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One of the big concerns in Canada is the number of baby boomers that are going to retire and put pressure on the retirement income system. The two key components of the retirement income system in Canada is the Canada Pension Plan (CPP) and the Old Age Security (OAS). The CPP program was reviewed in…
One of my regular media gigs is sitting on the Alberta Primetime Monday Money Panel and for our year end show, we were asked to talk about some interesting stories from 2011 or share stories of interest and things we are watching in the new year. 30 seconds is not much time to respond properly…
I am just 35 going to be 36 soon, how do I know the needs of a 65+ year old and how can I advise him/her to save money on the things they need and cut back on things they don’t need? Before you wonder and cast serious doubt on my wisdom, let me tell…
Being someone who works with Group Retirement Savings Plans, I am watching the development of the Pooled Registered Pension Plan very closely. I’ve also been quite vocal on how I think the PRPP should work. Most recently, the government has released it’s framework for the Pooled Registered Pension Plan. Ted Menzies, Minister of Finance, said…
Lifestyle planning is about determining how you want to live as you age and ensuring that you acquire the resources and supports you will need to live in this manner. Lifestyle planning also addresses planning for contingencies, the “what ifs” in life that are or may be out of our control such as disability, chronic…
When you retire with a defined benefit plan you can choose from a selection of pension options including normal, guaranteed term, single life or joint life pension. All pensions are paid for your lifetime, and are based on the same actuarial value. The monthly payments vary because of the differences in the optional features. Normal…
Canadian summers are altogether too short. It seems like all I have time for is a couple rounds of golf and a few drinks on the patio before the weather starts turning crappy again. With a couple of snow days common in both April and October, that means summer really only lasts 5 months. I’m…
