There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
Stock news for investors: Air Canada profit drops more than 50% in Q2 amid “challenging environment” Aug 1st
Here’s a round-up of news for Canadian investors this week.
Air Canada
George Weston
Lightspeed
Bombardier
Gildan Activewear
TFI
Algoma Steel
Featured RRSP Accounts
featured
EQ Bank
.... More »
Are you entitled to anything when your ex-spouse dies? + MORE Jul 6th
Q. My ex-husband died a month ago. Am I allowed any amount of his CPP or his military pension, although we were divorced?
–Ginette
A. I am sorry for your loss, Ginette. As you may already know, the end of a marriage or common-law relationship doesn’t automatically sever all ties between partner.... More »
“Get to know and minimize the investing fees you pay”: Michael McCullough, MoneySense contributing editor + MORE Nov 1st
Financial writer and editor Michael McCullough has made a career of helping Canadians understand a wide range of money topics, from real estate to alternative investments. In addition to being a MoneySense contributor and contributing editor, Michael writes for The Globe and Mail and BCBusiness, and.... More »
Strategies to make taxable investing easier + MORE Feb 3rd
In Episode 4 of the Canadian Couch Potato podcast, I answered the following question from a listener named Jakob:
I’m currently investing with all my ETFs in RRSP and TFSA accounts. This year, however, I’ll finish paying off my mortgage, so I will have more surplus cash and will have to start us.... More »
House rich, cash poor in retirement
– moneysense.ca
Getty ImagesQ: My wife (58) and I (57) are house rich, cash poor and just got approved for a line of credit for $600,000. We’re planning to retire at 65. We have no savings, no RRSPs and no TFSAs. When I reach retirement, I would like to get about $20,000 per year to spend on top of CPP and OAS. That’s the reason why I applied for the line of credit. Right now I’m still working and my annual income is about $70,000. If I borrow to invest, I could claim the interest on my tax return. Is it the right move or is there a better way to prepare for retirement?—T.
A: In an ideal world, we all go into retirement with a pension, investments and a paid-off house. In the real world, that doesn’t always happen. All you can do is try to plan the best course of action.
First off, the maximum CPP at age 65 is currently $12,460 and OAS is $6,765. Entitlement to CPP is based on years of contributions, while OAS is based on years of residency in Canada. These pensions are indexed to inflation…
Nova Scotia to offer PRPPs on voluntary basis
– moneysense.ca
Getty ImagesHALIFAX – Pooled registered pension plans would be available for people in Nova Scotia under legislation introduced by the provincial government.
Finance Minister Diana Whalen says the government’s goal is to provide a low-cost, regulated pension option given that only 40 per cent of working Nova Scotians have a pension and less than 20 per cent contribute to a registered retirement savings plan.
The plans would be available to people who are self-employed and people without a participating employer.
Whalen says participation would be voluntary in plans that are administered by large financial institutions such as insurance companies.
She says Quebec has made pooled plans mandatory while Nova Scotia is joining three western provinces that have made their plans voluntary.
Whalen says the federal government has also passed legislation to enable pooled plans for federally-regulated industries.
The post Nova Scotia to offer PRPPs on voluntary basis appeared first on MoneySense.
A closer look at pension envy: Mayers
– thestar.com
Critics say public sector pension plans are unaffordable and unfair and should be wound up. But would it really be cheaper and fairer to do so?
Targets date funds are an attractive option for those planning their retirement, but there are a few things to keep in mind when choosing one.
