2021 YMPE ANNOUNCED

The Canada Revenue Agency (CRA) has recently announced the maximum pensionable earnings for 2021 will be $61,600, up from $58,700 in 2020. This represents close to 5% increase.    Contributors who earn more than $61,600 in 2021 are not required or...

US State Pension Shortfalls Get Worse

A new report from the PEW Charitable Trust shows that funding for public sector retirement plans in states across the US is getting worse. New Jersey, for example, has only set aside 38% of what it needs to meet its pension commitments. Because public sector workers’...

Should Workplace Pension Plans be More Mandatory?

Governments everywhere are trying to nudge people to save more through various incentives such as tax-exempt pension contributions and structures such as automatic pension accounts (though in most cases members can opt-out). But what about employers? What is their...

2020 YMPE Announced

On November 1st, the Canada Revenue Agency (CRA) announced the maximum pensionable earnings for 2020 will be $58,700, up from $57,400 in 2019. Contributors who earn more than $58,700 in 2020 are not required or permitted to make additional contributions to the Canada...