Greener Pastures: Resetting the Age of Eligibility for Social Security Based on Actuarial Science
With retirees living longer and the working-age population remaining relatively stable, the growing demand for financial support in retirement will potentially strain social security programs, according to a new report from the C.D. Howe Institute. In “Greener Pastures: Resetting the Age of Eligibility for Social Security Based on Actuarial Science,” authors Robert L. Brown, and […] Robert L. Brown on BNN: The case for resetting the age of eligibility for social security
Robert L. Brown, professor emeritus of the University of Waterloo, joins BNN to dig into the C.D. Howe report he co-authored, which proposes that Ottawa raise the age of eligibility for seniors’ benefits to 67.
Click here to read the report, Greener Pastures: Resetting the Age of Eligibility for Social Security Based on Actuarial Science.
Bigger CPP, Bigger Risks: What “Fully Funded” Expansion Means and Doesn’t Mean
Younger Canadians are at a material risk of picking up the tab should the soon-to-be expanded Canada Pension Plan experience investment return shortfalls, according to a new C.D. Howe Institute report. In “Bigger CPP, Bigger Risks: What “Fully Funded” Expansion Means and Doesn’t Mean,” authors William B.P. Robson and Alexandre Laurin assess the risks of […] Ambachtsheer & Leech – Time for Innovation in Federal Government-Sponsored Workplace Pension Plans
From: Keith Ambachtsheer and Jim Leech To: The Honourable Bill Morneau, Minister of Finance Date: March 14, 2017 Re: Time for Innovation in Federal Government-Sponsored Workplace Pension Plans A recent Globe and Mail article quoted Minister Bains as saying “Innovation is about making things better in ways that benefit everyone,” suggesting the best way to […]Bob Baldwin – In The “db” Pension Plans Versus “dc” Debate, Tb Plans Have Plenty Of Appeal
From: Bob Baldwin To: Legislators and Public at Large Date: December 19, 2016 Re: In the “DB” pension plans versus “DC” debate, TB plans have plenty of appeal Advocates for pure defined benefit (DB) pension plans have criticized Bill C-27 which would allow federally regulated employers to replace their defined benefit plans with target benefit […] It Turns out Canadians are a lot Richer than We Think: Financial Post Op-Ed
We have often heard that Canadians are unprepared for retirement. Low interest rates have meant low returns to saving and have accelerated the demise of defined-benefit pension plans in the private sector. People — we are told — are not saving enough for retirement to compensate. But such fears of retirement unpreparedness are overblown.
Studies on the subject have typically ignored retirement savings beyond the three traditional retirement pillars of: 1) Old-Age Security (OAS and the Guaranteed Income Supplement); 2) CPP and the Quebec Pension Plan; and 3) workplace pensions and RRSPs. Specifically, gloomier reports have neglected wealth accumulated in the fourth pillar of retirement, made up of non-pension assets. As Fred…
Intelligence Chat – “Fourth Pillar” Assets Improve Retirement Outlook for Canadians
How can fourth-pillar assets significantly improve the outlook for Canadian households’ retirement readiness? Read the full report Une vision globale : Comment le quatrième pilier affecte la préparation à la retraite
Les actifs du quatrième pilier peuvent améliorer considérablement les perspectives de préparation à la retraite des ménages canadiens, selon un nouveau rapport de l’Institut C.D. Howe. Dans « Une vision globale : Comment le quatrième pilier affecte la préparation à la retraite », les auteurs Jeremy Kronick et Alexandre Laurin présentent une évaluation globale des actifs […] The Bigger Picture: How the Fourth Pillar Impacts Retirement Preparedness
Fourth-pillar assets significantly improve the outlook for Canadian households’ retirement readiness, according to a new report from the C.D. Howe Institute. In “The Bigger Picture: How the Fourth Pillar Impacts Retirement Preparedness,” authors Jeremy Kronick and Alexandre Laurin provide a comprehensive assessment of fourth-pillar assets in Canada. Pour lire ce rapport en français, cliquez ici. Assessing the Retirement Income Prospects of Canada’s Future Elderly: A Review of Five Studies
Five different studies on the level of preparedness of Canada’s future retirees have some common conclusions, according to a new report from the C.D. Howe Institute. In “Assessing the Retirement Income Prospects of Canada’s Future Elderly: A Review of Five Studies,” author Bob Baldwin looks beyond the headline conclusions of the five most talked about […] Ottawa is ignoring the changing realities of the retirement age – Globe and Mail Op-Ed
Earlier this week, The Globe and Mail revealed internal research by government officials showing a global trend toward older normal pension ages, with most OECD countries’ target policy retirement age to be raised to at least 67 by around 2050. An eventual increase in the normal retirement age, here in Canada, appears inevitable.
Despite this trend, Ottawa recently reversed course and cancelled a scheduled gradual increase in the Old Age Security (OAS) eligibility age from 65 to 67, to be fully implemented by 2030. The recent decision fails to recognize longer life expectancy since the 65-year-old benchmark was adopted, and the current marked trend towards later retirements. Projections show that by 2030, about 40 per…
The Pressing Question: Does CPP Expansion Help Low Earners?
Low earners stand to gain little from an expanded Canada Pension Plan (CPP), according to a new C.D. Howe Institute report. In “The Pressing Question: Does CPP Expansion Help Low Earners?”, authors Kevin Milligan and Tammy Schirle show the large differences in the net payoff from the expanded CPP for lower and higher earners.