More retirement homes on the way in Canada + MORE Jun 18th

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“What we will not do is reach into the pockets of middle-class Canadians with a mandatory payroll tax like the Liberals and NDP would do.” — Finance Minister Joe Oliver in the House of Commons, May 26.
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With the fall federal election approaching, political parties have already begun positioning on what’s becoming a key ballot-box issue: how best to boost retirement nest eggs through the Canada Pension Plan.
The New Democrats and Liberals have called for a mandatory add-on to the CPP, while the Conservatives have pledged to consult the provinces and other stakeholders on introducing a voluntary expansion to the public pension program. That dialogue, the Tories have promised, would begin after the October federal election.
Senior Conservative ministers, including Prime Minister Stephen Harper, have repeatedly warned that any forced increase to the CPP would essentially be a tax hike on Canadians and businesses.
The Liberals have defended compulsory CPP expansion, saying it’s no tax increase…

The financial markets have already spotted the Italian and French pension time bombs

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Canada is in store for a seniors’ retirement home construction boom to accommodate a surge in the number of aging baby boomers, and those building the facilities say they’ll include all the boomer-friendly comforts and conveniences of home.
Luc Maurice, a Quebec developer who’s spending $1 billion on new projects, is looking to double the number of units he operates in Quebec. And he expects at least $3 billion a year will need to be spent across the country to build and upgrade retirement facilities.
“It’s not about waiting to die,” he said when describing what seniors are looking for in today’s retirement homes.
Future seniors are expected to be wealthier, to live longer, healthier lives and to increasingly value their freedom and autonomy. Many will seek companionship because they have fewer children than current-day seniors, or no children at all.
While not all will seek extreme luxury, seniors want quality condo-style amenities including modern kitchens and an array of optional services that allow them to live independently, said Maurice, who plans to add 17 buildings with more than 5,500 units in Montreal, Gatineau and Quebec City over the next few years…

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Canadians are missing out on billions of dollars of potential retirement savings every year by not taking full advantage of matching contributions by their employers in group RRSP and defined contribution retirement plans.
Tom Reid of Sun Life Financial estimates more than $3 billion a year of potential company contributions go unmade because employees don’t make the required matching contributions to obtain them.
“That accumulates into a big number in a very short amount of time,” said Reid, senior vice-president of group retirement services at the insurance company.
In a group registered retirement savings plan or DC pension plan, employees and their sponsoring company each make contributions. The amounts vary from plan to plan, with some mandatory and others voluntary.
Reid said it’s “kind of critical” to find a way to get people to contribute the maximum allowed by their plans.
“Where are you going to get a better return?” Reid asks.
“If your company is willing to match dollar for dollar or 50 cents on the dollar for the contributions you put in, you should put in as much as they let you…