Posts Tagged ‘pensions’

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Using boomers short-term could help gap in Nova Scotia labour shortage

Monday, January 28th, 2019

Retired or semi-retired boomers who want to continue to work — albeit in a more flexible, short-term way… can be dropped into situations to handle specific projects or to mentor or train transitioning staff. They also represent a fixed-cost hiring, with no lag time, and no legacy or professional development costs… So while automation, youth attraction/retention and immigration are essential considerations to sustain and grow the economy, so is figuring out how to best accommodate the fastest growing segment of the labour market: boomers choosing to return to the labour force.

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Young Barrie widow elated to see end of age discrimination

Monday, January 14th, 2019

… the legislation said if a person is under 35 and has no children, they do not qualify for a spouse’s CPP. The belief was a young widow without children could adapt financially to a loss… And now, she’s received a letter from the government asking her to reapply for CPP. “It said effective Jan. 1 you are no longer required to have dependent children”… The government estimates it will affect 40,000 people.

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Non-profit workers offered chance to join Ontario public sector pension plan

Monday, September 24th, 2018

As many as one million Ontarians who work for registered charities and non-profit organizations will be eligible to join the provincial government pension plan under an agreement being announced Monday… Everything from non-profit arts and culture organizations, daycares, sports and recreation facilities to health and social service providers will be invited to participate. “Hardly anyone in the sector has benefits or pensions, and our research has found this has become a significant recruitment and retention issue,”

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Social policy-making still stealthy after all these years

Tuesday, July 31st, 2018

Governments seem to love the stealth approach because history proves they can get away with it − for a while at least… Social policy by stealth has two main dimensions: indexation and complexity. Understanding these dimensions allows us to better understand and design social policy… Today, indexation stacks up pretty well. Most of Canada’s income programs and taxes are fully indexed… However, other programs are still complex. Employment Insurance… the Canada Pension Plan… Welfare remains a labyrinth that seems impervious to reform. The majority of welfare systems remain un-indexed.

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Labour force participation, immigration headline OECD’s Canada report

Tuesday, July 24th, 2018

… the OECD recommended, among other things, that Canada invest more in affordable child care, raise its retirement age and do a better job matching immigration applicants’ qualifications and experience to specific skills needs… “Get people to work longer or retire later, increasing female participation – that kind of thing has a bigger effect than changes in feasible amounts of immigration,”

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Deferring Receipt of Public Pension Benefits: A Tool for Flexibility

Tuesday, June 26th, 2018

C/QPP benefits can start at any time between age 60 and 70 and Old Age Security benefits at any time between 65 and 70… “Pushing back the deferral period to age 75 would enhance retirement planning flexibility for many middle-income Canadians,” says Morency. “As we wait for broader enhancements to be completed over the coming decades, this reform would be a good first step.”

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‘Unretirement’: Why many Americans try retirement and then change their minds

Tuesday, April 3rd, 2018

A 2010 analysis… found that more than a quarter of retirees later resumed working… in 2017… almost 40 per cent of workers over 65 had previously, at some point, retired… the Bureau of Labor Statistics supports that observation. It reported that the proportion of Americans over age 65 who were employed, full-time or part time, had climbed steadily from 12.8 per cent in 2000 to 18.8 per cent in 2016. More than half were working full time.

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Later Retirement versus Higher Immigration as Remedies for an Aging Population

Friday, March 30th, 2018

Increasing the age at which Canadians typically cease work and access benefits such as pensions is a far more practical and powerful tool to mitigate the economic and fiscal stresses of aging… Safeguarding our living standards and public programs against the stresses of aging requires other tools – in particular, rewards for people who stay economically active into their 60s and beyond. If we foster longer working life and address other challenges facing our pensions and healthcare, we will handle demographic change much better

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After the Sears debacle, why is Ontario making it easier to underfund pensions?

Wednesday, January 24th, 2018

Leaving retirees to scramble in their golden years is cruel, and it is unconscionable to expect an overtaxed middle class to foot the bill for corporate chicanery. If governments won’t stop companies from dodging their pension obligations, it’s just a matter of time before we see the next Sears Canada. And that’s a prospect that should worry us all.

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Pooled Risk Insurance Can Save Seniors from Cat Food

Tuesday, January 23rd, 2018

Longevity insurance can provide a secure income stream at older ages without many of the criticisms associated with traditional annuities, but Canadian tax environment is unfavourable for private-market longevity risk products. MacDonald proposes a national, completely voluntary program that would give retiring Canadians the option to buy into a pooled fund that provides a stable income stream starting at age 85: Canada’s Living Income For the Elderly (LIFE).

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