How to go about securing the best Retirement Plan in Canada.
Latest News
What’s my RRSP contribution limit for 2021? + MORE Jan 18th
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2021 and may even be looking forward to a hefty tax refund. (The deadline for filing this year is April 30, 2022, which is on a Saturday, by the way. So you actually have until May 2, 2022 to file.) You can help ensure that.... More »
How to maximize your last-minute RRSP contribution + MORE Jan 26th
Mark your calendars: the deadline for Registered Retirement Savings Plan (RRSP) contributions for the 2020 tax year is March 1, 2021. But before you rush to deposit your money in a GIC or high-interest RRSP savings account at a local bank and call it a win, you should know there are other options th.... More »
Timing the withdrawal of RRSP savings to minimize your tax hit + MORE Sep 14th
Q. I’ve been fully retired since 2018, and living only on government pension (QPP, OAS and GIS). I have some RRSP and TFSA investments, and would like some help with determining when I should start withdrawing funds—and whether I will need to pay tax. I’ll be turning 71 in December 202.... More »
Single, no pension? Here’s how to plan for retirement in Canada Jul 4th
Being single in retirement has some financial obstacles. Some people are single as they enter retirement. Others become single due to divorce or death prior to or after retiring. Here are some considerations for planning your retirement as a singleton, especially if you have no defined benefit (DB) .... More »
Why “unretirement” may be the fate of so many Canadians Mar 14th
The idea of “unretirement” seems to be making a comeback as more Canadians find themselves under economic stress. Even before the tariff threats emerged under Trump 2.0, seniors and near-retirees were finding the economic uncertainty and rising cost of living becoming uncomfortable. No surprise .... More »
REIT investing: The risks of chasing returns
– moneysense.ca
Q: My wife and I are both retired. She is 70 and I am 76. Our residential house is paid off and so is our rental condominium which gives us a net income of about $5,000. We have cash investments of about $650,000 at a financial institution which has not done well the past year, giving a return of below 1% for the year, but has somewhat improved.
My RRIF of about $300,000 has done well in a private REIT. The returns are very good. My wife has her RRSP there as well and we plan on converting that to RRIF next year and stay with the same REIT. We recently transferred our TFSA there. In total we have about $850,000 in Private REITs. They return on average 8% not including the rise in unit value of the shares.
Is this worrisome? What should I do differently?
—K
A: Thanks for your question, K. I have a few thoughts I’ll share.
First, I want to point out a fundamental investment error I see people make with their Registered Retirement Income Funds (RRIFs). The minimum withdrawals at your age 76 is 5…
Morneau Shepell defends its dealings with Ottawa amid minister’s controversy
– canadianbusiness.com
The human resources and pension management firm at the centre of the conflict-of-interest controversy raging around Finance Minister Bill Morneau has itself joined the debate.
In a statement today, Morneau Shepell is refuting opposition claims that it has benefited from having its former executive chairman sitting at the Liberal cabinet table.
Political rivals have called on the federal ethics watchdog to investigate Morneau for spearheading pension reform legislation that could benefit Morneau Shepell and, through his personal holdings, the minister himself.
But the company says it wasn’t consulted on Bill C-27, even though it has stated its support for the concepts in the proposed legislation.
Morneau Shepell also says it wouldn’t expect to see a benefit from Bill C-27, since it would simply give federally regulated pension plans the option to use target-benefit plans, but not require them to do so.
The company also responded to media reports that suggest Morneau Shepell obtained and renewed contracts with the federal government after the Liberals won power…
In a statement today, Morneau Shepell is refuting opposition claims that it has benefited from having its former executive chairman sitting at the Liberal cabinet table.
Political rivals have called on the federal ethics watchdog to investigate Morneau for spearheading pension reform legislation that could benefit Morneau Shepell and, through his personal holdings, the minister himself.
But the company says it wasn’t consulted on Bill C-27, even though it has stated its support for the concepts in the proposed legislation.
Morneau Shepell also says it wouldn’t expect to see a benefit from Bill C-27, since it would simply give federally regulated pension plans the option to use target-benefit plans, but not require them to do so.
The company also responded to media reports that suggest Morneau Shepell obtained and renewed contracts with the federal government after the Liberals won power…
The current plight of Sears Canada retirees has left many wondering why some pension plans are underfunded, why they are not given priority in the event of a bankruptcy and what could be done to better protect pensioners under the law.
The human resources and pension management firm at the centre of the conflict-of-interest controversy raging around Finance Minister Bill Morneau has itself joined the debate.
