How to go about securing the best Retirement Plan in Canada.
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Shakespeare's Uncomfortable Message for Baby Boomers Oct 28th
‘King Lear’ confronts the challenges of the empty nest, retirement and facing one’s own mortality..... More »
Planning for the (potential) costs of long-term care + MORE Feb 17th
According to the Ontario Long Term Care Association’s report This is Long-Term Care 2019, 82% of long-term care residents are 75 years of age or older, and 55% are 85 or older. Residents under 75 are generally those who “have experienced a brain injury, stroke, and other conditions that require .... More »
After inheriting a RRIF account, how to know what you owe the taxman Mar 10th
Q: I’m wondering if there is a simple way to calculate the tax liability to named RRIF beneficiaries upon death of the account holder?
My wife’s mother passed away in October 2018. My wife was one of 3 named beneficiaries of a RRIF worth $265,000, and her share was $117,000 (44%). There are no.... More »
Can you have too much invested inside an RRSP? + MORE Dec 9th
While not quite up there with outliving your money, for many seniors the idea of dying with too large an RRSP (Registered Retirement Savings Plan) or RRIF (Registered Retirement Income Fund) rankles. Handing over nearly half your nest egg to Ottawa after a lifetime of tax-deferred saving seems to ma.... More »
How financial advisors can help at different life stages + MORE Mar 23rd
When it comes to figuring out your finances and planning for the future, working with a pro can make this process easier. Canadians who feel hopeful about their financial future are more likely to be working with a financial professional, according to research by FP Canada.
Depending on you.... More »
Only two in ten workers around the world are certain they will have an easy retirement, a new global survey shows.Toronto StarDallaire resigns from Senate to take on international causesToronto StarOTTAWA—Roméo Dallaire's one-man crusade to prevent the global violence he witnessed firsthand in Rwanda has grown too demanding for him to stay on in the Senate, the former general says. Dallaire, in announcing his retirement from the upper …Roméo Dallaire resigns from SenateThe Globe and MailDallaire: Raising awareness of veterans' health, children in warOttawa CitizenA selection of quotes about the life and career of Romeo DallaireCalgary HeraldCANOEall 99 news articles »
The Ontario Liberals’ pension proposal needs work
– macleans.ca
Aaron Lynett/CPThe math behind the “million jobs” platform of the Ontario Progressive Conservatives has dominated economic discussion in the Ontario election campaign now underway. Those PC job claims deserve scrutiny, but we shouldn’t let other policies with greater potential impact on the lives of Ontarians escape our attention. For example, take the Ontario Liberal Party’s proposed Ontario Retirement Pension Plan (ORPP). The ORPP would shift about $3.5 billion per year from today’s workers into an investment fund worth tens of billions of dollars, and eventually pay out billions of dollars of pension income. I don’t see any other policy of this scale in the party platforms, so the ORPP is worth a much closer look.
In 2013 at the federal level there were serious discussions about expanding the Canada Pension Plan (CPP). During that period, I wrote a paper with Tammy Schirle examining the CPP expansion proposals. Much of what I learned about the CPP expansion can be applied to the Ontario Liberals’ proposed ORPP…
