“Just over 60 per cent of Canadians do not have a workplace pension plan. Canadians work hard to realize their retirement dreams, and PRPPs will offer them a new, low-cost and accessible pension option to help meet their goals,” said Minister of State for Finance Menzies
“The financial crisis and the impact of that and what people have lived through these last few years have really changed people’s views about how turbulent markets really are and how much risk there is out there.”
View the video here on your mobile device. Why are young people not attracted to the insurance industry? Hi, I’m Shelley Ridgewell and welcome to Word Up, a mini-show that will be offering a slightly different perspective on the insurance industry. A lot of us did not initially choose to have a career in insurance. [...]
In 1981, there were approximately six people working for each retiree. By 2031, the ratio will be three to one, Statistics Canada says
Randstad’s Global Workmonitor survey finds Canadian employees are noticing that retaining talented and well-qualified employees is a growing issue for employers
Report finds 22 percent of retired Canadians are supporting their children and 14 percent are supporting at least one parent
The RRSP deadline is fast approaching (reminder: it’s midnight on March 1), and while many Canadians are filing taxes and taking a close look at their finances, some are feeling a bit of regret. A recent Scotiabank study conducted by Harris/Decima found that, if Canadians could begin their investment planning all over again, two-in-five (39 [...]
American International Group’s Robert Benmosche has received a positive health prognosis that will allow him to continue his role as the company’s President and CEO. “My doctors have given me an encouraging prognosis as I continue to undergo treatment for cancer,” Benmosche said in a statement. “As we all know, nothing in life is certain, [...]
Canadians aged 25 to 34 fear that they will have to work longer into their golden years, according to a poll commissioned by Edward Jones. This is a concern that has increased over the past four years – in 2006, 28 per cent of Canadians aged 25 to 34 listed this as their top fear [...]
The first wave of Canada’s Boomer generation turn 65 years old in 2011, and almost one-quarter (23 per cent) are concerned about having enough savings, according to the 21st Annual RBC RRSP Poll. However, the majority (71 per cent) of Boomers who will reach their milestone 65th birthdays, with financial plans in hand, say that [...]
View the video here on your mobile device. The next time you are thinking about how little the respect the younger generation pays, or how slow members of the older generation are, stop and take a look around your office. Recent human resources studies have found that Canadian workplaces now employ up to four generations. [...]
Almost half of pre-retired Canadians above the age of 45 are not fully prepared for a comfortable retirement, according to the results of a survey. In the Ipsos Reid survey commissioned by the Canadian Institute of Actuaries (CIA), specific results for pre-retirees include: – Only 45 percent agree that they are confident in their financial [...]
The federal government is too generous in subsidizing public service pensions and its time to start leveling the playing field with the private sector, the Canadian Federation of Independent Business says. “The federal government uses taxpayer dollars to ever-so-generously outmatch its employees’ pension contributions,” the CFIB said in a submission to the federal government’s consultations [...]
An Ontario man is suing General Motors of Canada on behalf of himself and other retired white-collar employees of the automaker. The suit claims GM Canada violated its contractual obligations by rolling back post-retirement benefits in recent years. The lead plaintiff, Joseph O’Neill, belongs to a group representing more than 3,500 retired employees of the [...]
Standard Life Financial says premiums and deposits in Canada grew 15 per cent to $1.3 billion in the first quarter, as investors regained some confidence in their savings. The company, which is Standard Life PLC’s largest operation outside of the United Kingdom, said the increase for the three months ended March 31 compares to $1.1 [...]
Four-in-ten Canadians (39 per cent) over the age of 50, who have assets of at least $100,000, retired with some form of debt and one-quarter (22 per cent) entered retirement with a mortgage on their primary residence, according to the first annual RBC Retirement Myths and Realities poll, which examines Canadians’ expectations and experiences in [...]
The Conference Board says Canada has about four years to prepare for the economic shock of the retiring baby boom generation. In a long-term outlook released on April 28, the Ottawa-based think tank says Canada’s economy will grow rather robustly between now and 2015, more so than the Bank of Canada estimates. But that is [...]
With mortgage rates already on the rise and the prospect of higher rates coming, new research from Investors Group reveals that Canadian mortgage holders may be overly confident that they can take higher borrowing costs in stride, and that mortgage payments won’t be an obstacle to retirement. According to Statistics Canada, more than 4.8 million [...]
