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Canadian retirees spending an average $2,400 a month + MORE Jun 25th
(Getty Images / shapecharge)
Housing is the single greatest monthly expense Canadian retirees are facing, according to a new study.
On average, retired Canadians are spending $2,400 a month, or $28,800 a year as revealed by the BMO Wealth Management Study, with $668 of that going towards accommodati.... More »
The year in stocks. 2017: Bitcoin, dope and Trump Dec 30th
Wall Street had a great year in 2017. The Canadian market managed only a small gain. (Cultura Travel/WALTER ZERLA)
OK, let’s say goodbye to the market in 2017.
Your editors at MoneySense are almost always going to steer investors into a reliable but boring Couch Potato portfolio of a few low-fee .... More »
Visa vs. Mastercard: What are the differences (and do they really matter)? Jun 18th
A frequent question we hear at MoneySense is: Which is better—Visa or Mastercard? When looking for a credit card, there are all sorts of things to consider. What is the interest rate? Can you collect rewards points or get cash back for making purchases? Is there a bonus for signing up, and what ar.... More »
Auto insurance coverage in Ontario just changed + MORE Jun 2nd
Next time your auto insurance policy comes up for renewal, check your price: you might find it lower than expected. But before celebrating, check your coverage: you may find that’s decreased, too.
The Ontario government has revamped standard auto insurance policies, which comes into effect tod.... More »
Zooming out on the global economy + MORE Apr 13th
This week is all about the big picture.
In a world where economic policy is diverging widely, amidst a mixed bag of slowing growth, volatile oil prices and political instability (and don’t forget the Greek bailout talks!), you could safely ask if there’s a week that’s all about the.... More »
90 days – 1.75%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-12-19. Click on the link above to get more details or apply online.
40 days – 2.75%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online.
Adrian Wyld/CPThis article by Stefania Di Verdi was first published at MoneySense:
By 2017, all Ontario employees could have access to a secure defined benefit pension plan, thanks to new legislation being tabled by the provincial Liberals. The Ontario Registered Pension Plan (ORPP) is Premier Kathleen Wynne’s response to the federal Conservatives’ decision not to enhance CPP.
Some fear the plan’s mandatory contributions would handcuff investors’ autonomy, and leave already stretched workers and employers short on cash. However, it would achieve its ultimate goal: If the plan is implemented as proposed, many Ontarians will find that they don’t have to save for retirement on their own at all.
The ORPP will require all employees in the province not already enrolled in a comparable workplace plan to sock away 1.9% of earnings (on their first $90,000) in a professionally managed, low-cost fund. Employers will have to kick in 1.9% as well.
“I think a mandatory savings program makes sense,” says pension policy expert Bob Baldwin of the C…
Canaccord Genuity Group Inc., a Vancouver-based wealth management company, is shrinking its global capital markets staff by four per cent, it announced Sunday.
How Wynne’s ORPP will change savings habits
– moneysense.ca
(Illustration by Sebastien Thibault)By 2017, all Ontario employees could have access to a secure defined benefit pension plan, thanks to new legislation being tabled by the provincial Liberals. The Ontario Registered Pension Plan (ORPP) is Premier Kathleen Wynne’s response to the federal Conservatives’ decision not to enhance CPP.
Some fear the plan’s mandatory contributions would handcuff investors’ autonomy, and leave already stretched workers and employers short on cash. However, it would achieve its ultimate goal: If the plan is implemented as proposed, many Ontarians will find that they don’t have to save for retirement on their own at all.
The ORPP will require all employees in the province not already enrolled in a comparable workplace plan to sock away 1.9% of earnings (on their first $90,000) in a professionally managed, low-cost fund. Employers will have to kick in 1.9% as well.
66%
Workers in Ontario not enrolled in a workplace pension plan
Source: Ontario Ministry of Finance
“I think a mandatory savings program makes sense,” says pension policy expert Bob Baldwin of the C…
