There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
Self-employed with no pension Aug 16th
The year 1975 was the high water mark for bell bottoms, soul music and workplace pensions. Back then, around half of Canadian workers had some sort of pension plan through their employers to save for retirement. These days, just under 40%. For the roughly 2.6 million Canadians who work for.... More »
Is now the time for retirees to sell stocks and buy GICs? + MORE Aug 2nd
Ask MoneySense
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
.... More »
Nicholas Hui, P.Eng, Certified Financial Planner + MORE Mar 22nd
Who is Nicholas Hui?
Nicholas Hui was an automotive engineer for 20 years before becoming a Certified Financial Planner. He brings the same systematic approach from his engineering background to his practise now as an advice-only planner. Nicholas specializes in helping young families and profess.... More »
Stock news for investors: Air Canada Q3 profit plunges to as strike weighs on results + MORE Nov 8th
Here’s a round-up of news for Canadian investors this week.
Air Canada
Fortis
Thomson Reuters
Suncor
Cameco
Maple Leaf Foods
Sun Life Financial
Cineplex
Corus Entertainment
Xanadu Quantum Technologies
Featured RRSP Accounts
.... More »
Stock news for investors: Canopy Growth to acquire MTL Cannabis in $125-million deal + MORE Dec 20th
Here’s a round-up of news for Canadian investors this week.
Canopy Growth
Blackberry
Transat
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 1.50% in.... More »
Canada 10th for retirement security worldwide
– moneysense.ca
Canadians worrying about the state of their retirement savings can enjoy some good news this week: Canada has been ranked 10th in the 2016 Global Retirement index, up from 12th last year. The annual ranking, by Natixis Global Asset Management, compares the state of retirement security in 43 countries around the world. The ranking placed Norway, Switzerland and Iceland in the top three slots, the United States at 14, with Brazil, Greece and India rounding out the bottom of the list.
The news comes just a few weeks after Canada’s finance ministers agreed to an expansion of the Canada Pension Plan. “When you look at what is driving these results for Canada, we can point to some things that are clearly working, and some things on the horizon that it would be good to address now,” says Ed Farrington, executive vice president for retirement at Natixis. “What we’re hoping is that this ranking will provide policy makers, employers and individuals with information to use moving forward with planning for retirement savings programs…
The news comes just a few weeks after Canada’s finance ministers agreed to an expansion of the Canada Pension Plan. “When you look at what is driving these results for Canada, we can point to some things that are clearly working, and some things on the horizon that it would be good to address now,” says Ed Farrington, executive vice president for retirement at Natixis. “What we’re hoping is that this ranking will provide policy makers, employers and individuals with information to use moving forward with planning for retirement savings programs…
Should I trust my advisor or accountant?
– moneysense.ca
(Martin Barraud/Getty Images)Q: We seem to be in a financial dilemma. Different perspectives on RRSPs at a time when my husband is retired and I am going to retire. He has a pension, I do not. The accountant is of the opinion that we should start converting our RRSP monies into cash, which is what I anticipated we would do upon retirement. Our financial advisor [feels] that we should deplete our savings completely and then turn to our RRSP fund at RRIF age [of 71].
Where do I turn to get solid financial advice as I feel that we need an investment advisor however I am uncertain whose interests are being looked after.
—Lea
A: It’s tough making financial decisions when you get conflicting opinions. But it’s not uncommon. One of the problems with generic or rule of thumb advice, however, is that it doesn’t necessarily apply to you, no matter who is giving it. So let’s focus in on some of the specifics in your case, Lea.
First off, assuming your husband’s pension is a defined benefit pension plan, he’s eligible to split up to 50% of his pension income with you on his tax return…
