Category Advocacy
Impressions of the Whitehorse Pension Conference
Impressions of the Whitehorse Pension Conference In a Nutshell There were no recommendations and no actions coming out of the meeting. Another conference planned for May 2010. Despite the data presented and the optimistic assumptions used to generate it, the conclusion of the Mintz report is that (mostly) all is well with Canada’s pension system. […]
Nortel Settlement Agreement- What’s in it for pensioners?
Nortel Settlement Agreement- What’s in it for pensioners? In a nutshell The Nortel Settlement agreement offers pensioners about a $2,000 value now, while it forces pensioners to forgo a potential of up 5-50 times as much upside later, if a successful fight can mounted to receive claims priority and/or action against Nortel, its Board, Officers […]
Retirement Income System Consultations Spring 2010
Retirement Income System Consultations Spring 2010 (The following, with minor changes, was sent as input to Canada’s Department of Finance request for input on Retirement Income System reform.) The current Pillars 1 and 2 (CPP/OAS/GIS) work adequately for population earning less than median Canadian incomes. Pillar 3, the DB and DC/RRSP system, which is the […]
Nortel pensioners’ CCAA claim: How will the final windup ratio be determined?
Nortel pensioners’ CCAA claim: How will the final windup ratio be determined? We just heard from the latest Koskie Minsky report to Nortel pensioners, that the latest ‘estimated’ windup ratio is 64%. This is the lowest number we have heard so far from official sources. The reasons suggested for this low number are because earlier […]
Ontario pension reform: What really needs to be done!
Ontario pension reform: What really needs to be done! Reform proposals? On August 24, 2010 Ontario Minister of Finance Duncan tabled proposed reforms. These ‘reforms’ can be best described as tinkering, rather than grabbing the bull by the horn in an effort to tackle the fundamental changes that Canadian pensions, now in systemic failure, really […]
Patrik Marier- IRPP Study: Improving Canada’s retirement saving- Lessons from abroad, Ideas from home
Patrik Marier- IRPP Study: Improving Canada’s retirement saving- Lessons from abroad, Ideas from home Summary Patrik Marier in the IRPP study “Improving Canada’s retirement saving- Lessons from abroad, Ideas from home”indicates that “Until now Canada’s retirement income system has done well in alleviating elders’ poverty and helping workers maintain their standard of living in retirement. […]
Feedback on “Securing Our Retirement Future: Consulting with Ontarians on Canada’s Retirement Income System”
Feedback on “Securing Our Retirement Future: Consulting with Ontarians on Canada’s Retirement Income System” Peter Benedek, CFA, RetirementAction.com Recommendations- Highlights Of Canada’s three-pillar retirement income system, only Pillar 1 (OAS/GIS) is doing its job of minimizing seniors’ poverty. Pillar 2 (CPP/QPP) is failing due to very low replacement targets and low earnings ceilings, thus dramatically […]
New Ontario pension windup flexibility is great but must include ‘self-administration’ option
New Ontario pension windup flexibility is great but must include ‘self-administration’ option It is wonderful to read that Ontario Finance Minister Duncan decided to broaden the available options upon pension wind-up, rather than forcing pensioners into an annuity. The Nortel pensioner group NRPC’s announcement in the context of the so called Financial Sponsorship Model-FSM (ominously) […]
PRPP: An agreement to kick the can down the road and deliver more fees to Canada’s financial industry
(Originally posted Dec 21, 2010; re-hosted in March 2012) In a nutshell Given the limited granularity available in the PRPP (Pooled Retirement Pension Plan) announcement, we must conclude that this is an agreement to do nothing, except perhaps a handout to the financial services industry at the expense of the average Canadian. By taking advantage of […]
Pension Reform: It’s not rocket science
Pension Reform: It’s not rocket science In a nutshell With the latest re-vectoring of the federal government’s ideas on pension reform (PRPP), we compare it to some of the more meritorious proposals tabled for pension reform (or already operational in the Saskatchewan SPP). PRPP comes up wanting in comparison to the others based on the […]
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