The other day I came across an article from GM Canada. They recently transferred $1.8 billion of their pension assets to an annuity for their salaried pension plan members who retired prior to June 2020. This represents about $300,000 per employee on average. Why would GM Canada do this rather than manage a pension plan […]
In September 2020, I began a quarterly report on “Annuities”. In a nutshell, I’ll show the change in annuity payments over time, when all other parameters are held constant. Since I began reporting, interest rates have increased slightly, and so did annuity payouts. Methodology Every three months, I update the default annuity quote (using the Cannex […]
Most people generally understand what a doctor, lawyer or engineer is and when they might likely need one. When a consumer needs financial advice, should they go to a “financial adviser” or “financial planner”? My industry is still working on that issue after 20 years. I started in financial services in the year 2000 with […]
Whether you are already retired or planning to retire in the next 10 years, the Variable Retirement Income (VRI) can help quantify how comfortable you are with your retirement income strategy. Over the past decades, companies are shifting their pension plans away from defined benefit (DB) pension plans to defined contribution (DC). Why? Companies no […]
Dying in Ontario is Now More Complicated Ontario enacted new regulations to the estate settlement process on January 1, 2015. What this means is that now there’s more red tape and delays settling an estate. It’s also more work and responsibility for the executor who implements the wishes of the testator. What Major Changes Have Been Implemented Enhanced compliance […]