Posts Tagged ‘pensions’
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Retire at age 70? Young people may have to under plan [U.S.]
Monday, July 12th, 2010
July 9, 2010
Young Americans might not get full Social Security retirement benefits until they reach age 70 if some trial balloons that prominent lawmakers of both parties are floating become law. No one who’s slated to receive benefits in the next decade or two is likely to be affected, but there’s a gentle, growing and unusually bipartisan push to raise the retirement age for full Social Security benefits for people born in the 1960s and after.
Tags: economy, pensions
Posted in Social Security Policy Context | No Comments »
Breakthrough on pensions?
Wednesday, June 16th, 2010
Jun 16 2010
the politicians did a dramatic about-face and emerged with a consensus for a beefed-up Canada Pension Plan. Ontario’s Dwight Duncan took the lead by calling for an expanded, mandatory CPP — rather than taking the path of least resistance with merely voluntary schemes that would benefit only workers with the means to pay more.
Tags: pensions, standard of living
Posted in Social Security Debates | No Comments »
How to build a bigger, safer nest egg
Monday, June 14th, 2010
Jun 13 2010
The current average wage in Canada is approximately $41,000 per year, and the maximum CPP benefit is about $11,500. Our proposal to expand CPP benefits over time to more than $21,000 a year is financially sound and a practical solution to the retirement security crisis. Expansion of benefits would be phased in and financed by a modest increase in the premiums paid by workers and employers. For someone earning $30,000 a year, the increase would amount to just 6 cents per working hour annually.
Tags: pensions, standard of living
Posted in Social Security Debates | No Comments »
Ottawa and Ontario call for higher CPP benefits
Friday, June 11th, 2010
Jun 10 2010
“I believe that we should consider a modest, phased-in and fully funded enhancement to defined benefits under the Canada Pension Plan in order to increase savings adequacy in the future,” federal Finance Minister James Flaherty says in a letter to Ontario’s Finance Minister Dwight Duncan Thursday. The Flaherty letter was released late in the day after Duncan made public a letter he had earlier sent to his provincial and federal counterparts calling for similar enhancements to the CPP.
Tags: pensions, standard of living
Posted in Social Security Debates | No Comments »
Ontario to urge expansion of Canada Pension Plan
Friday, June 11th, 2010
Jun 10 2010
… the province is urging all governments to agree to a modest expansion of the Canada Pension Plan… In coming years, the share of retirees failing to meet the desired savings for 70 per cent income replacement is projected to rise from 15 per cent for those born in the 1940s to just over 24 per cent for those born in the 1980s, the report says. And the findings show that a disproportionate number of middle-income Canadians will end up in this group of 24 per cent who face a declining standard of living when retired.
Tags: pensions, standard of living
Posted in Social Security Debates | No Comments »
A new pension deal
Wednesday, June 2nd, 2010
June 1, 2010
The requirements for an improved retirement savings system have to include cost-effectiveness and adequacy while reaching a broad base of Canadians. The infrastructure, expertise, capacity and proven cost-efficiency to meet those requirements already exists in the private financial service sector’s workplace-based retirement savings programs, including pensions, group RRSPs and deferred profit-sharing plans. These capital accumulation plans have grown 70% in eight years and the potential for increased participation is clear…
Tags: pensions, standard of living
Posted in Debates | 1 Comment »
Parliament to vote on securing pensions at failing companies
Tuesday, May 25th, 2010
May 25, 2010
Politicians of all federal parties are being pressed to vote Wednesday to raise the security of vulnerable pension plans. Pensioners are urging them to support a bill from a Thunder Bay New Democrat that would bring Canada’s bankruptcy law up to the standard in most other developed nations… The bill would give pension promises equal standing with secured loans when companies restructure under bankruptcy protection, or go out of business.
Tags: pensions, standard of living
Posted in Debates | No Comments »
Flaherty right to worry about burden on young workers [pensions]
Tuesday, May 11th, 2010
May 10 2010
Jim Flaherty has stated the first principle for any national initiative to help Canadians increase their retirement income should be: Do no harm… “I think we have to be conscious that we don’t put a burden onto (young workers) that benefits those of us who are older. That’s important. “I want (younger workers) to have confidence in the system. I also want the system to be there for them when they’re older.”
Tags: pensions, standard of living
Posted in Social Security Debates | No Comments »
Beware ‘pensioncare’
Saturday, May 8th, 2010
May 08, 2010
The main argument at work here is the belief that large institutions such as the CPP Investment Board and major state agencies such as the Ontario Teachers’ Pension Plan can investment money more efficiently and at lower costs than a private mutual fund or other market-driven investment firm. Individual Canadians are apparently too dumb to manage their own money in a market setting, and it is the role of the state to intervene to save investors from themselves.
Tags: pensions, standard of living
Posted in Social Security Debates | No Comments »
Accountants call on governments to require company pension plans
Saturday, May 1st, 2010
May 01 2010
Canadian governments should make businesses offer pension plans, although nothing so costly as civil servants enjoy, argue researchers for a group of 73,000 accountants… The authors cite the huge divide between those with and without pension plans… Lefebvre and Gosalia advocate moving toward pension plans that would guarantee a base level of income in retirement, while also offering a savings plan that could have variable results.
Tags: pensions, standard of living
Posted in Debates | 1 Comment »
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