The Retirement Crisis

(April 27, 2015) Legislation to allow Nova Scotia pension plans to be transferred to the Nova Scotia Public Service Superannuation Plan (PSPP) will reduce costs and provide members which greater security, reports Benefits Canada. “This historic legislation could help reduce costs at universities while giving more...

(April 24, 2015) Upping the annual contribution limit for the Tax Free Savings Account (TFSA) to $10,000 from $5,500 will “provide Canadians with an opportunity to accumulate tax-free savings at a significantly higher rate over the course of their adult years,” writes Karen Tarbox at Benefits Canada. However,...

(April 24, 2015) A new study by the Employee Benefits Research Institute (EBRI) shows that while confidence in having enough money to enjoy a comfortable retirement is up, one-third of Americans still report to having virtually no money set aside for retirement, writes Ken Berry at CPA Practice Advisor. That’s the...

(April 24, 2015) OPTrust, which administers the OPSEU Pension Plan for more than 86,000 members and retirees, reported 2014 investment returns of 12 per cent, net of external management fees. In doing so the plan outperformed its benchmark return of 6.2 per cent, increasing its assets to $17.5 billion by the end of...

(April 24, 2015) Ontario’s upcoming budget is expected to have “a number of significant announcements regarding pension reform,” reports Benefits and Pensions Monitor. The 2015 budget, Building OntarioUp, will include draft legislation for the Ontario Retirement Pension Plan Administrative Corporation, which will be...

(April 23, 2015) When looking for commonality between older and younger workers, look no further than appreciation for workplace pensions, writes Martin Biefer for the Hospital News. This benefit is “highly valued” and sought after, he writes. “Research by the Gandalf Group recently found that 79 per cent of Canadians...

(April 23, 2015) When asked how to best fund New Jersey’s pension system, a new poll suggests two-thirds of New Jerseyans say money should be raised through income taxes on millionaires, reports www.NJ.com. However, running into that strategy is a pledge by Gov. Chris Christie not to raise income taxes – “a...