News
Employers Offer Nutrition Programs
Two-thirds of Canadian organizations responding to a Conference Board of Canada survey offer nutrition programs, but less than half measure the impact of their programs on employees and few organizations are aware of what their initiatives eat up in costs
Hard Saving Now
The failure of Canadians to save for retirement may not be because they are lazy and irresponsible, says Jill Taylor-Smith, of Eckler Ltd. She told its ‘Reality Check: Coming to Grips with the Future of Capital Accumulation Plans in Canada’ seminar th
Green Perceptions Engage Employees
Workplace perceptions of employers’ environmental programs and practices help sustain high employee engagement
Canada Economy Expected To Grow
Canada’s economy is expected to grow between 1.7 per cent to two per cent this year
Opportunities of a testamentary trust
Our team often wonders why more Canadians aren’t taking advantage of a testamentary trust. It’s a relatively easy and incredibly flexible strategy that lets you control assets beyond life and potentially save your heirs significant tax, year after yea
Step back before buying a new home
In recent months, some banks and other institutions have been tempting potential home buyers by offering mortgages at eye-popping low rates. At the same time, other market observers warn that housing prices are likely to fall, so potential home buyers sho
Manage summer spending to increase savings
It’s a well-known (and discouraging) fact that Canadians aren't saving enough. Summer is coming but that doesn't mean you have to wait until the fall to boost your savings. There is no better time than the present to increase the amount you are putting
Few Want To Plan For Retirement
People who look forward to planning their retirement are few and far between, says the Desjardins ‘Personal Finance Index.’ It found in Quebec, only 46 per cent of the population actually engages in this type of planning. "Financial education is secon
Conversation Now On Psychological Health
With the introduction in January of the new voluntary Canadian standard on psychological health and safety in the workplace, the conversation in Canadian companies has turned to the importance of organizations being able to rely on a psychologically healt
Increasing CPP Would Hurt Economy
Increasing Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) benefits would hurt the Canadian economy and result in significant job losses, says a report from the Canadian Federation of Independent Business (CFIB).
Cancelling Work From Home Requires Steps
If an employer wants to maintain its right to recall employees back to work and cancel work-from-home arrangements, it needs to take certain steps, says a Fasken Martineau ‘HR Space.’
Strategy Must Motivate Employees
A wellness communications strategy must motivate employees to take action that will improve their lifestyle practices and reduce risk factors for chronic diseases such as high blood pressure, diabetes, and cardiovascular disease
Act Now Includes Same-sex
The Nova Scotia government is amending its Pensions Benefits Act to clarify that it includes same-sex couples and those who are living together but are not married.
Spring cleaning your financial paper files
Spring is in the air and you may be thinking of cleaning closets and windows, but what about your financial cupboards?
Need motivation to file on time?
A deadline that no taxpayer should ignore is now just weeks away: April 30 is the last day to file your return for the 2012 tax year, either electronically or by mail. There are so many reasons to file on time, yet many people still procrastinate. We’ve
Change In Government Could Hurt Recovery
Political uncertainty in Europe is pretty troubling, says Nathan Sheets, global head of international Economics at Citigroup. In the keynote presentation at the ’Financing & Investing Conference,’ he said if they can maintain the current political env
The 2013 Federal Budget – What you need to know
The 2013 Federal Budget, released on March 21, 2013 by Finance Minister, Jim Flaherty, focused on several key themes
Budget Proposes GST/HST Changes
Changes to the Goods and Services Tax/Harmonized Sales Tax (GST/HST) rules for registered pension plans (RPPs) and healthcare services and a streamlined process for correcting accidental over-contributions to RPPs are among the proposals in the federal go
Participation In Benefits Strong
Participation in healthcare benefits programs in Canada is strong (92%) especially when offered through their employer, says an HP health and wellness survey.
Women Allocate To Personal Causes
New research has found that women are allocating their time, money, and energy to both traditional investments such as real estate, but also personal causes related to family, themselves, and the world at large
Reforms Could Help Canadians Save For Retirement
A series of policy reforms would lend Canadians a hand to save for retirement without cutting into government revenue in the long run
Canadians Fear Exhausting Savings
Two out of every ten (19%) Canadians aged 50 and older have no idea how much they have saved for retirement, and half of all respondents believe they will exhaust their retirement savings within the first 10 years after they leave the workforce, says an I
Canadians Spend Too Much, Save Too Little
Canadians are spending too much, saving too little and carrying too much debt, says Blake Goldring, chairman and CEO at AGF Management Limited.
Retirement Solution Announced
The Standard Life Assurance Company of Canada has announced a new retirement solution ‒ ‘Pension in a Box.’ Designed to help small and medium-sized enterprises (SMEs) offer their employees a simple, flexible and online workplace retirement solution.
PRPPs Bring Equity To Workforce
Pooled registered pension plans (PRPPs) would bring more equity to the workforce by giving more Canadian workers access to employer pension plans, says Tom Reid, a senior vice-president at Sun Life Financial. He told attendees at the ‘National Summit on
Mental Illness Causing Disability
Mental illness, the fastest growing cause of disability in the Canadian workforce, and how employers and employees can contribute to a psychologically healthy work life will be the focus of the ‘14th Annual George Brown College Mental Health Conference.
Investors Acknowledge Emotional Investing
Thirty-four per cent of Canadian investors acknowledge that they take an emotional approach to investing and another quarter (26 per cent) are unsure of whether they do or not, says ‘Time to Take Stock,’ a report by Franklin Templeton Investments Corp
Standards Creep Into Law
While Canada’s new ‘National Standard on Psychological Health and Safety in the Workplace’ is voluntary, these measures can creep in legislation and adjudicator decisions, says Kristin Taylor, of Cassels Brock. Speaking at the CPBI Ontario region se
Employer Obligated To Accommodate Childcare Needs
The Federal Court of Canada has upheld the finding of the Canadian Human Rights Tribunal that "family status" under the Canadian Human Rights Act (CHRA) includes a parent's obligations to care for a child and that an employer is obligated to provide accom
Canadians Not Contributing This Year
With the RRSP contribution deadline just four weeks away, Scotiabank's annual ‘Investment Poll’ found that two-thirds of Canadians who plan to retire say their RRSPs will be their source of retirement funding (65%)
Retirement Not Taking It Easy
Retirement for most Canadians won't mean just sitting back and taking it easy
Employees Dissatisfied With Financial Situation
More than 60 per cent of employees are dissatisfied with their personal financial situation, with one in four feeling financially distressed.
Ability To Save For Retirement Impaired
Canadians (aged 18 to 54) are concerned that their ability to save for retirement will be impaired both by saving for their children's education (48 per cent) and by taking care of their aging parents (36 per cent), says the ‘23rd Annual RBC RRSP Poll.
Canadians Want Gradual Retirement
Canadians increasingly want to retire gradually, either by reducing their regular schedules or taking longer vacations, says a Desjardins Insurance retirement survey. It found that 75 per cent of respondents planned to transition into retirement over time
Trimming Budget Priority For 2013
Nearly four in 10 Canadians say ‘trimming the household budget’ is their top 2013 financial resolution. Next on the list were ‘creating a will or estate plan’ and ‘creating an emergency fund,’ both garnering 13 per cent of responses in the lat
Top 10 Features of a TFSA (Tax-Free Savings Account)
For the first time since its launch in 2009, the Tax-Free Savings Account (TFSA) has received a power boost – an extra $500 in annual contribution room to grow your money even faster. Here's an overview of the top features of having a TFSA account.
RRSPs: Why Wait For The Rush?
If you are typically a last-minute RRSP contributor, you’re not alone.
Retirees Confident About Finance, For Now
Most of Canada's retirees feel positive about their current finances in retirement, saying they are living the retirement they hoped for today. However, a CIBC poll has found some retirees are concerned they won't be able to sustain their lifestyle over t
TFSA or RRSP?
TFSAs are catching up to RRSPs as the preferred savings vehicle. In 2010, TFSA contributions totalled $21.8 billion versus $33.0 billion in RRSP contributions, the CBC reported. By mid-2011, just two and a half years after TFSAs were introduced; assets h
Living a less materialistic, more meaningful life
As a new year begins, it's an ideal time to pause and take stock of your life. Another year has come and gone. Are you enjoying a meaningful life - or are you stuck on the proverbial treadmill of today's materialistic world?
TFSA limits get extra boost in 2013
Now in its fifth year, the Tax-Free Savings Account has become hugely popular. Starting this year, the annual contribution limit rises by $500 to $5,500 to reflect inflation "creep" since the TFSA was launched in 2009.
More Canadians Turning To RRSPs
An increasing number of Canadians are investing in RRSPs, but most are not maxing out their annual contribution
DC Members Need To Work Longer
Changes in capital market returns and annuity purchase prices would have an impact on the potential retirement age of a Canadian worker in a benchmark Defined Contribution pension plan
Canadians Delaying Retirement
Canadians aged 50 and over are working later and delaying retirement, regardless of their level of education, says Statistics Canada.
Financial planning for young adults
With pension cutbacks and rising life expectancies, it's increasingly vital that young adults get an early start on the journey of sound financial planning. A lack of focus or missteps at this stage can unnecessarily delay long-term goals and financial we
Year-end tax tips for investors
Just weeks remain before the door closes on many of the opportunities to save tax on your investment accounts for the 2012 tax year. Ensure you're taking advantage of those that apply to your situation.
Private Sector Model For Public
Ontario's government employee pension plans must follow the private sector's lead in becoming sustainable for both employees and taxpayers alike, says Tim Hudak, Ontario PC leader. "Governments and union leaders too often make promises about benefits way
Canadians Prefer Time-off
Canada is the only country where employees would choose additional paid time off as their most preferred benefit, says a global survey by Mercer.
Homewood App Offers Range Of Health & Wellness Services
Homewood Human Solutions has released an app that makes accessing a complete range of health and wellness services as easy as touching a screen.
Harper Announces Increase to Annual Contribution Limit for TFSA
The Honourable Ted Menzies, Minister of State (Finance), and the Honourable Gail Shea, Minister of National Revenue, today announced that Canadians will be able to save an additional $500 in their Tax-Free Savings Account (TFSA) starting in 2013, raising
Employers Get Benefit Cost Reprieve
Canadian organizations got a modest reprieve from the increase in employee benefits costs in the past two years, but the relief will be short-lived, making cost containment an ongoing priority for employers, says the Conference Board of Canada’s ‘Bene
Ontario Seeks Feedback On Fund Pooling
The Ontario government will start asking individual pension plans, affected stakeholders, and others to provide their feedback on a recommendation that there is a significant opportunity for pension funds to realize benefits from the economies of scale an
Sun Life Helps Combat Diabetes
To help combat the diabetes epidemic in Canada, Sun Life Financial has made a $5 million commitment to the University Health Network (UHN) to support transformational research focused on finding a cure, as well as promoting and providing prevention and ca
Average Cost Of Benefits Now $7,000
The average cost of providing benefits to active employees is 10 per cent of gross annual payroll, or slightly more than $7,000 per full-time employee
Five essential strategies for retirement income
If you're semi-retired or soon-to-be retired, we recommend that you map out a retirement income plan - well before you intend to put it into action.
Markets Drop As U.S. Election Results Sink In
The combination of the re-election of President Barack Obama and continued Republican control of the House of Representatives means markets face ongoing legislative gridlock and policy uncertainty, says CIBC World Markets Inc. "By adding four more years t
Mortgages Being Carried Into Retirement
Almost a third (32%) of Canadians will likely still have their mortgage when they retire
Instability Stresses Young
The instability in today’s economy is contributing to high stress levels in young Canadians with 90 per cent of 18 to 24 year olds experiencing excessive stress and 72 per cent of adult Canadians feeling overwhelmed, says the third annual Sun Life ‘Ca
Grow-in Creates Termination Challenges
Ontario employers need to be careful when it comes to terminating employees who are eligible for grow-in benefits
Employers Need To Justify Retirement
Being able to demonstrate that a termination or other employment-related action was based on something other than age will only become increasingly important, says Fasken Martineau’s ‘The HR Space: Managing the End to Mandatory Retirement.’
Confidence To Save For Retirement Lacking
About four-in-10 respondents aren't confident in their ability to save for retirement and are relying on the value of their home to help fund their retirement, says a BMO Retirement Institute survey.
Retirement Plans Include Winning Lottery
One-third of Canadians admit winning the lottery or receiving a large inheritance is part of their plans for a secured financial future, says a survey for Credit Canada Debt Solutions and Capital One Canada.
Focus on Your Plan
There’s a growing sense of pessimism in the market place, and with it a general loss of perspective. Though many investors say they are long-term investors, their actions do not appear to be in sync with what they say.
Workforces Expanding This Year
More than 40 per cent of participating organizations are expanding their overall workforce in 2012 compared to just 27 per cent in 2010, says ‘Mercer's 2012 Attraction and Retention Survey.’ Moreover, fewer organizations today than two years ago are m
TFSA, RRSP Decision Tricky
Deciding whether to use Tax Free Savings Accounts (TFSAs) or Registered Retirement Savings Plans (RRSPs) to save retirement can be tricky, says David Chilton, author and panelist on the ‘Dragon’s Den.’
Oxford Proposes Toronto Casino
Oxford Properties Group, which invests in and manages real estate assets on behalf of OMERS, has proposed a $3 billion plus development project which includes a casino for downtown Toronto, ON.
One In Five Suffer Depression
More than one in five (22 per cent) of Canadian employees are currently suffering depression (14 per cent diagnosed), while an additional 16 per cent report having experienced depression previously. Further, 84 per cent of managers and supervisors continu
Satisfied Employees More Productive
The second annual Manulife Financial Small Business Research Report has found Canadian small business owners believe satisfied employees are more productive and focused and providing health and retirement benefits is a key component to boost employee prod
RESPs: The Ins and Outs
RESP’s have been prevalent since 1998 but have not been widely adopted because they are quite complex and often difficult to understand. People tend to be unsure on how to set them up properly to fit future needs and goals. Consulting with a financial a
NFL Referee DB Plan Frozen
The NFL Game Officials' Pension Plan will be frozen after the 2016 National Football League season under a labour agreement which will see them return to the field this week.
Secure Pension Plan Increasingly Important
A secure pension plan is an increasingly important component of an attractive pay package
Canadians Will Work For Lifestyle
Most of Canada's 50 to 59 year olds don't intend to give up their current lifestyle as they enter retirement, says a CIBC poll, despite falling short of their retirement savings goals.
Retirement Date Surprises Boomers
More than eight in 10 (85 per cent) pre-retired Boomers with financial assets of $100,000 or more believe they will have the choice of when to retire.
Defined Benefit Pension Plans Poised For Comeback
Defined Benefit pension plans are poised to make a comeback, says Pentegra Retirement Services. Its white paper says DB plan economics are shifting and will afford employers the opportunity for lower funding costs, thereby positioning DB plans to once aga
Public Service Union Goes On Offensive
The Ontario Public Service Employees Union is going on the offensive to educate members and fight back against proposed pension changes by the Ontario Liberal government.
Interest Rates Challenge Life Insurers
A rapid rise in or sustained low interest rates can be a challenge for insurers and especially life insurers, says Swiss Re study.
Long Retirement Costly To Government
Raising the retirement age solves a fiscal problem facing government with increasing numbers of Canadians retiring, but it does not solve the political or social problems, says Malcolm Hamilton, of Mercer.
More Savings, But Not Enough
While Canadians are trying to save more for retirement this year, they still are not saving enough, says a survey from the Canadian Payroll Association.
Working To Age 70 Not Enough
Working to age 70 will not guarantee adequate income in retirement for many, says research from the Employee Benefit Research Institute (EBRI). It found for approximately one-third of the households between the ages of 30 and 59 in 2007, working to age 70
RESPs offer a one-time 20% bonus - and much more
With children returning to school this month, it's a great time to consider how their post-secondary education will be funded in the future. Contributing to a Registered Education Savings Plan (RESP) is not only a great gift, but it also gets the federal
Make a lasting gift to your grandkids
Before you give away money, however, it's crucial that you ensure you have enough to last your lifetime. Our team can help you crunch the numbers. Once that's done, the main gifting considerations are the age of your grandchildren and amount of control yo
T is for tax-efficient
Looking for higher income in our low-interest environment? This type of investment income solution, available through our team, offers strong, steady cash flow and tax deferral along with the potential for capital preservation, growth and inflation protec
Students Want Finance Lessons
Seventy per cent of Ontario high school students say that learning how to manage their personal finances is important or very important, says a study from the Investor Education Fund (IEF). The study also revealed that 69 per cent of students think person
Half Have TFSA Account
Nearly half of Canadians (47 per cent) say they have a Tax-Free Savings Account, as the fifth year of the TFSA's availability approaches in 2013.
Do-it myselfers Face More Risk
Retirement plan participants who choose their own investment options are generally exposed to greater risk than target-date fund (TDF) investors
Action Needed On Public Pensions
With enrolments in public sector pension plans growing at twice the rate of growth for private sector employment levels, Canadians could face higher taxes and reduced government services unless action is taken soon.
Boomers Working In Retirement
Canadians in the heart of the baby boom (aged 50 to 59) have come up short on their savings goals and plan to supplement their income by working in retirement, says a CIBC poll.
Financial planning through each stage of life
As with your physical health, it pays to be proactive when it comes to financial health. By eating well, exercising and getting regular checkups you can minimize or avoid certain illnesses and maximize physical well-being. Similarly, by taking a holistic
Young Canadians Procrastinate On Retirement
Young Canadians are aware of the need to save for their retirement years, but many are procrastinating, says a report from the BMO Retirement Institute.
Healthcare Costs Slow
The overall trend in Canadian health benefit plan cost increases showed significant slowing for a second consecutive year, says a survey by Buck Consultants, A Xerox Company.
Starting Early Improves Outcome
Those who start saving for retirement in their 20s can make nearly double what an investor beginning in their 30s can, says research from Vanguard.
Canadians Richer Than Americans
Canadians have a higher household worth than Americans, says Environics Analytics ‘WealthScapes.’ On average, Canadian households have a net worth of $363,202, while American households have an average net worth of $319,970.
Employer Liability Upheld
An Ontario Court of Appeal decision confirms that employers may become liable to pay the full value of an employee’s short-term and long-term disability benefit entitlements where, following an employee’s termination without cause, those benefits are
Mental Illness Cost Tops $20 Billion
Mental illnesses cost Canada about $20.7 billion in 2012 and the cost is growing at a rate of approximately 1.9 per cent every year, says a Conference Board estimate of the economic impact of mental illness among working-age Canadians. This cost is expect
Economic Landscape Shifting
With the retirement of the baby boom generation, the economic landscape in Canada will shift and the greatest impact of that change will be felt by young Canadians (ages 18 to 29 years), says the ‘Manulife Financial Investor Sentiment Index.’ It indic
Wellness Makes Financial Sense
Organizations should invest in workplace wellness programs because it makes financial sense to do so, but Canadian employers are at the infancy stages of evaluating health and wellness programs and demonstrating the positive return on investment (ROI) tha
Canadians Face Working Longer
Coming changes in demographics will mean that unemployment rates will fall and Canadians will have to work longer and retire later, says Fred Vettese, chief actuary at Morneau Shepell, in a ‘Vision’ report. ‘When Can We Retire?’ says the average r
Everything Needs To Change To Fix Healthcare
In Canada’s healthcare system, it is hard to pinpoint which two or three things needs to change because all of it needs to change, says Don Drummond, former senior vice-president and chief economist at TD Bank and, more recently, chair of the Commission
Ottawa Approves PRPP Act
The passage of the Pooled Registered Pension Plans Act shows that the federal government is committed to helping Canadians save for retirement, says Ted Menzies, minister of finance.
Obesity As Disability Unclear
Is obesity a disability? The answer to that is “yes, no, maybe,” says Casey Dockendorff, an associate at Filion Wakely Thorup Angeletti LLP.
Engagement Offsets Costs To Accommodate
The legal obligation to accommodate employees with disabilities can be high, however, the resulting increased engagement and productivity of all staff can largely offset these costs, says Stuart Ducoffe, an employment lawyer during a presentation at the
Ontarians Concerned About Savings
More than 35 per cent of Ontarians are very concerned about having enough to retire on, says a survey by the Healthcare of Ontario Pension Plan (HOOPP)
Sponsors Should Prepare For Changes
Ontario plan sponsors who have not already taken steps to prepare for changes to the Pension Benefits Act (PBA) that take effect July 1 should act immediately to review and amend their plans and administration systems to address immediate vesting and lock
Enhanced CPP May Be Only Choice
The 50-year history of RRSPs suggests they have been a bust and there may be no other choice but to enhance Canada Pension Plan benefits for retired Canadians
Boomers Wish For Retirement
Most (71 per cent) Boomers can't wait to spend their time as they wish in retirement, but four-in-10 (42 per cent) of those not-yet-retired expect managing cash flow in retirement to be more difficult and 37 per cent are worried they do not have enough mo
Aging Wave Will Cause Historic Reversal
With the aging wave approaching a tsunami, Canada will soon experience an historical reversal that by 2015 will see a population comprised of more senior citizens than children.
Lack Of Debt Key To Retirement
Nearly nine in 10 Canadian homeowners say that being debt-free is key to their idea of a successful retirement, even more than most lifestyle factors, says a Manulife Bank survey.
Canadians Accept Responsibility
When it comes to ensuring their financial security in retirement, Canadians overall believe that they are primarily responsible (59 per cent)
Canadian Employers Offer Wellness
Nearly two-thirds of Canadian employers offer wellness initiatives to help workers enjoy better overall physical health
Expecting a tax refund?
A tax refund is much like receiving any other windfall - it's worth taking time to pause and evaluate your options. If you borrowed to make your RRSP contribution, paying off the loan should be your top priority. Beyond that, and perhaps after treating yo
OAS Change Has Little Impact On Retirement
Many Canadians aged 45 to 54, the first age group to be affected by the proposal to increase the age Canadians can collect Old Age Security (OAS) payments to 67, were already planning on working past age 65, say CIBC polls.
Pressure Increases To Keep Working
Although the impact of the changes to OAS and GIS announced in the federal 2012 budget will not start to be felt for the next 11 years, older workers approaching retirement will feel pressure to remain longer in the workforce to make up for the loss of pe
Defined Benefit Pension Plans Attract Younger Workers
More younger workers are accepting job offers from companies that offer Defined Benefit pension plans, says the ‘Retirement Attitudes Survey’ by Towers Watson. In 2009, the survey found 28 per cent of workers younger than age 40 said a DB plan was the
Harry Matheis receives prestigious award from Manulife Financial
Harry Matheis receives his 2 and 3 Star Master Builder award from Manulife Financial.
Employers Encourage Retirement Savings
Canadian employers are listening to their employees' concerns about achieving retirement income adequacy and are finding new and better ways to encourage retirement savings
9 tax filing tips that will save you money
From income-splitting to transferring unused credits, these could make tax time less painful
Privacy Rights Increasingly Recognized
There is an increasing recognition of individual privacy rights when it comes to access to employee medical information for employers trying to manage illness in the workplace, says Dan Fogel, of Hicks Morley.
Canada Can Become An International Leader In Financial Literacy
"Canada can become an international leader in financial literacy if governments succeed in creating a collaborative framework through policy and action, in co-operation with the private and voluntary sectors," said L. Jacques Ménard, chairman of BMO Nesb
Onus Shifts To Canadians
The continuing shift from Defined Benefit to Defined Contribution pension plans is creating a growing onus on Canadians to take care of planning their own retirement income.
RRSP Contributions Continue To Decline
RRSP contributions as a share of personal disposable income continue to decline, confirming a downward trend first identified by RBC Economics in 2010. Its 2012 RRSP Report, ‘Backing into the Future: Canada's Declining RRSP Contribution Rates,’ shows
Canadians In Limbo On Retirement Planning
Many Canadians remain in limbo when it comes to retirement planning, says Desjardins Financial Security's ‘2012 Retirement Survey.’ The survey indicates that Canadians who lack confidence in financial institutions and advisors are more likely to feel
Retirement Landscape Changing
The retirement landscape in Canada is changing with only three in 10 Canadians planning to be fully retired at age 66...
Canadians Unaware Of Needed Rate Of Return
Nearly half of Canadians don't know what rate of return they require on their investments to achieve their retirement goals...
Canadians Expect To Keep Working
While 52 per cent of Canadian workers anticipate working beyond the age of retirement, nearly half say they'd be happy to work for an additional two years beyond the official retirement age...
Canadians Know They Should Save, But Don’t
One-third of Canadians in their 40s (32 per cent) admit they haven't yet opened a registered retirement savings plan (RRSP) even though they realize they should...
Paying Off Credit Cards Highest Priority
Canadians are not taking the necessary steps to achieve financial peace of mind in retirement, says a survey from ING DIRECT. It found more than half of Canadians (58 per cent) don't feel financially prepared for retirement...
Young Canadians Using RRSPs
The ‘22nd Annual RBC RRSP Poll’ shows that 43 per cent of Canadians between the ages of 18 and 34 now hold RRSPs. This represents a shift from last year when the number of younger Canadians holding RRSPs dropped to its lowest point in almost a decade
Canadians Unprepared For Retirement
Many Canadians across a wide range of ages say they do not feel financially prepared for their retirement, says a CIBC poll, which also shows baby boomers named retirement planning their top financial priority for 2012.
Canadians More Optimistic About Retirement
Canadians are more optimistic than Americans about their ability to save for retirement, but many people in both countries expect that they'll have to delay retirement due to insufficient savings.
Canadians Lack Clear Picture Of Retirement
Only 16 per cent of Canadians and 23 per cent of those in the Boomer generation have a clear picture of their retirement and what they want to do, says research from TD Canada Trust.
PRPPs Treated Like RRSPs
It will be necessary that plan members clearly understand that their RRSP contribution room is directly affected by employer and member contributions to a Pooled Registered pension plan (PRPP)...
CPP Deduction Changes for 2012
Changes to the way employers deduct Canada Pension Plan (CPP) contributions are coming into effect January 1, 2012.
Ontario Government Introduces Family Caregiver Leave
The Ontario government has introduced Bill 30, the Family Caregiver Leave Act (Employment Standards Amendment), 2011. If passed, the Bill would amend the Employment Standards Act, 2000 (ESA) to permit employees to take an unpaid leave of absence of up to
CPP Contribution Rules Changing
Significant changes to the Canada Pension Plan (CPP) this January will affect both employees and self-employed workers ages 60 to 70.
Canadians Put Same Into RRSPs
More than two-thirds of Canadians will be contributing the same amount or more to their RRSP this year versus last, says a poll by BMO Financial Group.
Failure To Hike CPP Could Be Costly
Failing to adequately address Canada's growing pension deficit could end up costing the federal government in the future, says a report from the Canadian Centre for Policy Alternatives. It says failing to enrich the Canada Pension Plan will result in more
CPP May Be Required From Disability Benefits
Proposed amendments to the Canada Pension Plan (CPP) as part of the federal budget bill, Bill C-13, would, if passed, require employers to deduct CPP contributions on employer-paid disability benefits...
Canadians Put As Much In RRSPs
Most Canadians say they plan to keep investing at least as much in RRSPs as they did last year, despite recent volatility in North American and global stock markets, says an Investors Group poll.
More Can Participate In Pension Plans
The Canadian Federation of Independent Business (CFIB) and the Canadian Chamber of Commerce believe the federal government’s Pooled Registered Pension Plan (PRPP) will allow more employees, employers, and the self-employed to participate in pension pla
PRPP Plan Applauded
The Association of Canadian Pension Management (ACPM) and the Canadian Life and Health Insurance Association are both applauding the federal government for moving ahead and tabling Pooled Registered Pension Plan (PRPP) legislation as a means of expanding
CRA Scrutinizes Taxable Benefits
The Canada Revenue Agency is increasing the level of audit scrutiny on taxable benefits received by employees.
PRPP Plan Applauded
The Association of Canadian Pension Management (ACPM) and the Canadian Life and Health Insurance Association are both applauding the federal government for moving ahead and tabling Pooled Registered Pension Plan (PRPP) legislation as a means of expanding
Economic Uncertainty Undermines Retirement Expectations
More than 54 per cent of respondents age 45-plus have concerns about the economic uncertainty and how it may affect their retirement savings.
Break Coming With Benefit Plans
After two years of increasing inflation in health benefit plan costs, Canadian employers can now expect a break.
Canadians Will Work Longer
A 50-year-old worker in 2008 could expect to stay in the labour force 3.5 years longer than in the mid-1990s, says Statistics Canada.
Doubling Limit Fairness Issue
Doubling the retirement saving limit likely wouldn’t cost the government anything, says Malcolm Hamilton, a partner at Mercer.
Report Says Beef Up CPP
The Canada Pension Plan should be beefed up with higher premiums and benefits to protect against a trend by employers to stop offering Defined Benefit pension plans, says a report for the Institute for Research on Public Policy.
Retirement Saving Confidence Shaken
The plunge in stock markets since June has shaken Canadians' confidence regarding their retirement, says a National Bank of Canada survey.
Canadians Eye Retirement At 63
Canadians anticipate saving enough to retire at age 63 and most see themselves entering retirement without debt, says a CIBC poll.
Go ahead and tap that RRSP
Jason Heath (CFP) discusses the ins and outs of RRSP contributions and withdrawls.
Canadians Living Longer
Canadians are living longer than ever and the life expectancy gap between men and women continues to shrink, says Statistics Canada.
Best Solution for Canada's Pension System
"PRPPs are currently the only solution on the table as increasing the CPP is a dead issue as far as the federal government is concerned" says Graham Steele, Finance Minister of Nova Scotia.
Labour Concerns; Skilled Workers Shortage
The current recession would need to last 31 years before it would offset the labour market shortages caused by Canada’s declining birth rate since 1969, says Dr. Linda Duxbury of Carlton University.
Survey Shows Employers Want Flexibilty Over Balance
A global survey reveals a growing imbalance between what employers say about work-life balance and what they actually do. The WorldatWork’s Alliance for Work-Life Progress survey shows while 80 per cent of employers around the globe avow support for fam
EAP Access For Debt and Credit Counselling on the Rise
Almost two out of every three times that people accessed their employer's EAP (Employee Assistance Program) for financial assistance last year, it was for personal debt and/or credit reasons, says a Morneau Shepell Research Group report.
Retirement Plan Industry Coming of Age
As the retirement plan industry comes of age and enters a period of relative calm following a period characterized by tumultuous economic, socio-cultural, and regulatory change, the growing role of retirement advisors....
Canadians Feeling Unsettled About Retirement
Ongoing market volatility and global unrest continue to leave Canadians feeling unsettled about retirement, says the Russell ‘Financial Health Index.’
CFIB Warns Of Looming Pension Crisis
Canada’s public pension system isn’t fair or sustainable, says the Canadian Federation of Independent Business (CFIB) which is launching a campaign to highlight what it calls a looming pension crisis.
Conservatives Pooled Pension Plan Proposal
The Conservative government is opting for pension reform that will ensure that banks and insurance companies reap the maximum benefit while Canadian workers continue to get left behind, says Judy Sgro, Liberal critic for seniors and pension.
Employee Vehicle Benefits
A majority of organizations (89 per cent) continue to offer some type of vehicle benefit to employees, says the WorldatWork ‘Vehicle-Related Benefits Survey.’
Pension Funds In Crisis Mode
Pension funds are still in crisis mode and still driven by fear and macroeconomic myopia, says Standard Life Investments.
Canadians would rather keep their health benefit plan than receive $10,000.
Fifty-nine per cent of group health benefit plan members in Canada would rather keep their health benefit plan than receive $10,000, says the ‘sanofi-aventis Healthcare Survey.’
5 key risks Canadians face in saving for retirement
Canadians are living longer, healthier lives and in the wake of longevity, there are five key risks Canadians face in saving for retirement.
Health Care in Canada...An Employer's View
Harry Matheis discussing Health Care issues in Canada
Business Health: Summer 2008
businesshealth: Summer 2008
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Business Health: Spring 2008
businesshealth: Spring 2008
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Harry Matheis quote from
Taken from the September 2007 issue of Benefits and Pensions Monitor magazine, this article features an insight into what industry experts think they have learned in 100 issues of the magazine.
Business Health Volume 3:3 – July/August 2007
Benefits: The Line is Drawn / Pushing the Envelope / The Qualities of an Effective Asthma Program / Cancer: The Good, the Bad, and the Ugly / IWH Updates: Safety Training and Disability Management Practices
