Don Ezra – Some welcome steps towards longevity insurance
To: The Hon. Bill Morneau, Minister of Finance From: Don Ezra Date: March 21, 2019 Re: Some welcome steps towards longevity insurance Thank you. It’s not perfect, but it’s a start in a good direction. Your proposed rules that would permit longevity insurance, known technically as “advanced life deferred annuities” were a welcome piece of this week’s budget. These […] Robson, Laurin – Tax Relief for the 2019 Federal Budget
To: The Honourable Bill Morneau, Minister of Finance From: William B.P. Robson and Alexandre Laurin Date: February 11, 2019 Re: Tax Relief for the 2019 Federal Budget The C.D. Howe Institute’s Shadow Federal Budget for 2019 last week aims to enhance Canada’s competitiveness and dynamism, while setting the stage for a return to surpluses during the next Parliament. Today we examine […] Hold The Panic: Maybe Canadians Aren’t Facing A Debt Insolvency Crisis After All – Financial Post Op-ed
For much of the last decade, Canadians have been told their debt levels were unsustainable and that their day of reckoning was fast approaching. Data recently released by the Office of the Superintendent of Bankruptcy (OSB) seem to indicate that day has arrived. According to the data, insolvencies by Canadian consumers were up 9.2 per cent in October 2018, compared to a year earlier.
To say the least, these results appear alarming. But in light of what we know about homeownership and net worth, we are not so sure. The data show that Canadians’ net worth has never been higher. Moreover, the data do not distinguish between the more harmful economic effects from households in negative net asset positions, or balance sheet…
Less Debt, More Growth: A Shadow Federal Budget for 2019
February 7 – Ottawa should spur growth through better tax competitiveness and get back into the black by curbing overspending, says the C.D. Howe Institute’s annual Shadow Federal Budget. In “Less Debt, More Growth: A Shadow Federal Budget for 2019”, authors William B.P. Robson and Alexandre Laurin show Ottawa could balance its budget in 2023/24 […] Landon, Smith – Discount Rates Matter And Here’s Why
From: Stuart Landon and Constance Smith To: Canada’s Pension Regulators Date: February 4, 2019 Re: Discount Rates Matter and Here’s Why Our new C.D. Howe Institute Commentary examines how the choice of a pension plan discount rate affects the tradeoff between the risk of holding insufficient assets to pay promised benefits and the cost of acquiring more assets. The choice of […] S1 E1 – Millennials & Municipalities
In this inaugural C.D. Howe Institute Podcast , host Michael Hainsworth sits down with Institute President and CEO, Bill Robson, to discuss the fiscal future of millennials and their children. Next, Bill takes us through recent Institute rankings of municipal budgets for transparency and accuracy. Finally, we take a sneak peek at the Institute’s upcoming federal […] Managing Uncertainty: The Search for a Golden Discount-Rate Rule for Defined-Benefit Pensions
Public-Sector pensions are using risky projections to calculate their future liabilities, according to a new report from the C.D. Howe Institute. In “Managing Uncertainty: The Search for a Golden Discount-Rate Rule for Defined-Benefit Pensions,” authors Stuart Landon and Constance Smith find that many pension plans use high discount rates that increase the risk they will […] Deferring Receipt of Public Pensions: Good Things Come to Those Who Wait
In this edition of Graphic Intelligence, we show how deferring receipt of public pension benefits can make retirement planning cheaper for Canadians. For each year of delaying take-up of C/QPP and OAS, the base benefit amounts increase. Delaying take-up of C/QPP from 60 to 70 increases base benefit amounts by 122 percent, and delaying OAS receipt […]Alexandre Laurin – Retirement policy planning for Budget 2019
Federal budgets are an annual rite of spring in Ottawa, as is the deluge of advice to the Department of Finance. But budget-making is a yearlong process, and the work is now in progress. Accordingly, the C.D. Howe Institute is presenting a series of Intelligence Memos in the next few weeks, outlining recommendations that we […]Coming “Part” Clean: Impact of the Recent Restatement to Ottawa’s Unfunded Pensions
In this edition of Graphic Intelligence, we show the impact of the recent Public Accounts of Canada’s restatement of the present value of future federal employee pension obligations as of March 31, 2017. Showing the obligations of unfunded pension plans at fair-market value (now discounted at current bond yields) increased total federal debt by $34.5 […] William B.P. Robson – Pensions Of Federal Employees Are Way Underfunded – Including Yours
From: William B.P. Robson To: Members of Parliament Date: October 11, 2018 Re: Pensions of Federal Employees are Way Underfunded – Including Yours The House of Commons Committee on Government Operations and Estimates recently held hearings about the pensions for federal government employees. That is good. The federal government provides pension benefits to its employees […]