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To: The Finance Department From: Alexandre Laurin Date: February 24, 2020 Re: Building on the Early Success: Time for a TFSA Tune-Up Tax-Free Savings Accounts (TFSAs) have had great success over the past decade, but could use a tune-up. In my new C.D. Howe Institute paper, I show that after a decade in existence, there is now enough data and empirical analysis on TFSA use to…

The Study in Brief Simple changes to tax rules can improve retirement security for Canadians, as well as make the retirement system more equitable among different classes of savers, and more efficient at managing longevity risks for capital decumulation. This E-Brief provides a discussion of needed retirement-related tax changes impacting members of capital accumulation plans, such as RRSPs and…

Reforms underway to the Canada Pension Plan (CPP), which impose higher penalties for opting to receive CPP before age 65 and greater rewards for delaying take-up until after 65, were meant to ensure people do not have a strong financial incentive to retire early and take-up CPP at age 60, according to a report from the C.D. Howe Institute.  In “Comparing Nest Eggs: How CPP Reform Affects…

The battle over Enbridge Line 5 – unfolding in a Michigan courtroom – shows how declarations of friendship between Canadian and American governments are hostage to local politics. This past February, the Prime Minister and the U.S. President concluded a Roadmap for a Renewed U.S.-Canada Partnership. While the Roadmap doesn’t refer to pipeline issues, in spirit and intent it should prevent actions…

From: William B.P. Robson and Jeremy M. Kronick To: Federal and Provincial Finance Ministers Date: April 13, 2020 Re: Backstopping provincial borrowing Governments around the world are responding to the COVID-19 crisis with myriad measures – additional resources for healthcare, supports for individuals and businesses, tax deferrals and public health edicts that have slowed or…

What returns can we earn on our saving? In planning for retirement, few questions matter more. Project prudently and all should be well; count on a bonanza that falls through – not so good. What is true for individuals is true for pension plans. Those that forecast conservatively and back their obligations well tend to pay what they promise; those assuming turbo-charged returns to fund rich…