News
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
