Decumulation is a clear and significant concern for the sponsors of capital accumulation plans, the results of Benefits Canada’s 2017 CAP Member Survey show. The annual survey found 61 per cent of plan sponsors would be likely to allow their members to leave their assets within their plans after they retire if regulations allowed. Of […]
A new report on income security in Ontario is recommending that the provincial government expand the provision of essential health benefits to all low-income people and modernize income and asset rules to ensure people can save for the future, according to a new report by the income security reform working groups. A substantial component of Ontario’s […]
The Canadian government will discontinue the Canada savings bond and Canada premium bonds program on Nov. 1, 2017. While existing bonds will continue as usual until they mature or the purchaser redeems them, the option of buying them through a payroll savings program will now be off the table. The program reached peak popularity in the 1980s, but […]
Two-thirds of households are setting aside money for retirement, taking advantage of either a registered pension plan, a registered retirement savings plan or a tax-free savings account, Statistics Canada said Wednesday as it released the latest batch of numbers from the 2016 census. Of 14 million households, 65.2 per cent made a contribution in 2015 […]
The Canadian Life and Health Insurance Association is recommending a number of ways the federal government can help ensure Canadians’ retirement income security in its submission for the 2018 federal budget. With more Canadians moving into capital accumulation plans, people need to have better options available to help secure their retirement, wrote the organization, noting there’s […]
The Conservative decade is over. The Liberals won all 33 seats in Atlantic Canada, and 184 overall, with 170 needed for a majority. Stephen Harper conceded to Justin Trudeau just after midnight, and Conservative Finance Minister Joe Oliver failed to win re-election in his riding of Eglinton-Lawrence. What does the red wave mean? Read: Hands […]
The annual contribution room for tax-free savings accounts (TFSAs) recently went up to $10,000, which means Canadians can now use them to build real wealth, argues a piece by MoneySense. Read: Hands off my TFSA contribution room! Yet, many Canadians still don’t understand the benefits of TFSAs—they see them as instruments where you simply stash […]
Canadians are heading to the polls in a month and a majority of them don't want the TFSA contribution limit to be reduced.
Shortly after the federal government announced it would increase the annual contribution limit for tax-free savings accounts (TFSAs) to $10,000, Liberal leader Justin Trudeau and NDP leader Thomas Mulcair both said they’d reverse the decision if elected this fall. Why? The increase will only benefit the rich, they argue.
Half of Canadians are unsure what they can hold in a tax-free savings account (TFSA), finds a CIBC poll.