If you think healthcare costs are high already, the next two decades are likely to come as a shock, as aging boomers stretch the system to its limits. New research out of the C.D. Howe Institute by former Bank of Canada governor David Dodge and Richard Dion, a former economist at the Bank of Canada, […]
Planning for retirement income usually accepts that retirees can get by on far less than their pre-retirement income, as their expenses will be lower. But when it comes to household needs, spending barely declines at all, according to a report from Statistics Canada. Looking at spending and income patterns from 1982 and 2008, StatsCan found […]
Investors are finally getting the message that they need to save more for their retirement, making an aging population less of a drag and more of a growth driver for the asset management industry, according to a survey of CEOs in the business. The PwC survey found that 68% of CEOs at asset management firms […]
TMX Group has announced the integration of two new on-book dark order types—Dark Mid-point and Dark Limit Orders—into the existing order books on Toronto Stock Exchange and TSX Venture Exchange. Dark orders allow institutional traders to place large buy and sell orders while limiting their impact on the price of the security they are trading. […]
After months of being lectured on their debt accumulation habits, Canadians have apparently taken up another bad habit, in part to combat the first: raiding their retirement plans. According to a survey conducted by Leger Marketing for BMO Financial, roughly 40% of Canadians with an RRSP admit they have made withdrawals from their plan before […]
While the federal government’s proposed pooled registered pension plan (PRPP) has its critics, pension plan sponsors welcome the relief that it could afford them, according to the latest MorneauShepell 60 Second Survey. Among the 79 participating organizations, the survey found 74% were considering adopting a PRPP because it would allow them to offload fiduciary liability […]
There’s a sunny outlook for the U.S. economy, which may be positioned to outperform in 2011, according to Laurentian Bank. The U.S. economy has already recovered “all economic activity lost during the recession,” and is building upon that base, says Sébastien Lavoie, assistant chief economist at Laurentian Bank Securities. “Two events that occurred recently in […]
Urgent action is needed to improve the financial literacy of Canadians, as individuals must increasingly take responsibility for their own future, according to the Task Force on Financial Literacy. The task force submitted its final report to the federal government this morning. “Financial literacy is critical to the prosperity of Canadians and the nation,” said […]
TMX Group, operator of the Toronto Stock Exchange, has announced that it will merge with the London Stock Exchange (LSE). The result would be a trans-Atlantic market with a dominant role in capital financing for the mining industry. The spin off for Canadian investors is that the investing population of Britain—more than double that of […]
If you needed reassurance that Canadians do, in fact, need financial advice, it’s here. Despite a dominant belief that now is a good time to invest, Canadians are wary of entering the market. A new survey commissioned by Franklin Templeton Investments finds that bullish sentiment outweighs bearish sentiment by a ratio of four to one. […]