News
Marriage after retirement
If you are a retired member of the Canada Pension Plan or Quebec Pension Plan and marry after retirement, your spouse is NOT entitled to a survivor pension in the event of your death. However, you may choose to provide your spouse with a pension at the time of your...
Indexing rate “Retired members” Pension
The indexing rate for 2018 in Canada is 1.6%. The indexing of public service pension plan benefits is governed by two pieces of legislation; the Public Service Superannuation Act (PSSA) and the Supplementary Retirement Benefits Act (SRBA). Pension increases for...
New Monies for Canadian Military Disability Plan
The Service Income Security Insurance Plan (SISIP), a long-term disability insurance plan for members of the Canadian military, is getting $622 million in new funding to backstop the plan's deficit, according to budgetary numbers tabled this week in the House of...
OHIP Plus May be a Negative
OHIP+ has a great premise, but the devil may be in the details. The program was created so that children and young people under age 25 get free prescription meds. As good as the universal program is in Canada, one area of concern has always been access to medications....
When You Will Die …
Well, the problem has been solved. Canadian Business has a calculator that tells you how old you will be when you die. They ask things like height, weight, parents with heart disease, etc. For me, the answer was 79.6 years. I didn't like that result, so I reduced my...
Will Sears Fall Short of Pension Obligations?
Here is an amazing story. First, Sears Canada closed on January 14, 2018 after sixty-five years of operations in Canada. 14,140 employees lost their jobs at Sears over the past year, and hundreds of retail locations were shut down. This of course represents a dramatic...
Nigerian Pension Reform Success Story
In 2005, Penad had a small part to play in the major pension reform announced in Nigeria in 2003. The Nigerian government set up a national contributory pension scheme to ensure that all Nigerians had the opportunity to save for retirement and build pension accounts....
Would You Rather Own 31% of a Success or 81% of a Flop? Bombardier’s Story
Donald Trump promised to put American workers and companies first, but now it appears he has created a monster new competitor for one of America's leading firms -- Boeing. It was announced today that Canada's Bombardier and Europe's Airbus (both Boeing competitors)...
Expanded Canada Pension Plan Benefits Who, Exactly?
Robert Brown, a fellow with the Canadian Institute of Actuaries, wonders in this post (see link below) how the recent expansion to the Canada Pension Plan will impact various levels of beneficiaries. One would expect, based on the press and government messaging at the...