What happens to group retirement plans after employees leave? In choosing or managing a workplace retirement plan, one question that employers should be asking is what happens to employees after they leave or retire. For most Group RRSPs and TFSAs provided by big insurers and banks in Canada, the answer is former employees get moved …
Don’t let big insurance companies “roll over” you Read More »
Canada’s economy is doing well, our unemployment rate is at its lowest level in decades, and the average net worth of Canadians is increasing. If we look more closely at the financial health of Canadian households, though, the numbers tell a contrasting story. Technological change, globalization and automation have transformed Canada’s labour market, and rising …
3 practical policy solutions to help Canadians buffer financial risks Read More »
In its fall economic statement, the federal government launched a consultation on how best to strengthen retirement security for Canadians. The consultation is welcome. The recent enhancement to the Canada Pension Plan, a years-long process that begins next month, represents an important measure to improve the public pillars of our retirement system, but much more …
Making life more affordable through efficient retirement savings Read More »
Weaning the retirement industry off our obsession with regulatory categories The retirement industry has a problem. We are obsessed with regulatory categories. When people talk about the kind of retirement plan they have, they inevitably talk about the regulatory category. “It’s a Group RRSP.” Or a target-benefit plan. Or a defined-benefit plan. Or a …
The Brookings Institution, a leading American policy think tank, invited Common Wealth and Canada’s top public sector pension plans, Healthcare of Ontario Pension Plan (HOOPP) and OPTrust, as well as President Hassan Yussuff of the Canadian Labour Congress, to discuss the Canadian retirement income and pension system and its relevance to American policy debates. …
Fixing the U.S. retirement system – Does Canada have the answers? Read More »
Co-Founder Alex Mazer presented at the 2017 ACPM National Conference on September 13. Click here for his presentation, “Expanding access to high-quality retirement plans for modest earners”, which was part of a plenary session on Changes and Choices – The New Economy and Plan Design Considerations. Canadians are earning income in non-traditional roles – the gig …
When I used to work on issues of retirement security and pension policy for the Ontario government, one refrain became so common that it was largely taken for granted by my colleagues and me: The retirement crisis is an issue for the middle class only. Lower- and moderate-income people needn’t worry about retirement because the government safety …
Rethinking retirement security for modest earners Read More »
Over the past year, Common Wealth has had the opportunity to partner with SEIU Healthcare, an Ontario-based union, to design and implement a new retirement plan called My65+. We believe that My65+, which was launched at an event in Toronto last week, is the first retirement plan specifically designed for the needs of modest-earning workers, …
For many people, a pension is a thing of the past — something that may have helped their parents or grandparents, but is unlikely to help them. Outside the public sector, where most workers continue to enjoy a pension plan, pensions are largely viewed as a phenomenon in irreversible decline. We at Common Wealth disagree. Pensions have …
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