Retirement In Canada

Retirement In Canada
INTRODUCTION
There is much debate on whether Canadians are financially prepared for retirement. For every study
claiming that Canadians are saving enough for their retirement, there is another that claims savings
levels are too low. However, one point that nearly all experts will agree on is that retirement is
changing. Advances in the health field are allowing people to live longer and be more active in their
later years. As people live longer, they have to work longer to maintain their standard of living. And
working longer could be beneficial to individuals, as well as to the economy. This paper will discuss
how these reasons are causing the face and timing of retirement to change.
PEOPLE CAN WORK LONGER
In 1965, Canada introduced ... Show more content on Helpwriting.net ...
Currently, the population of Canada is shifting towards a higher ratio of retirees, and economic
growth is expected to suffer. For the first time in Canada's history, there are more people over the
age of 65 than under the age of 15, and this trend is continuing to spread the gap (Parkinson,
McFarland, & McKenna, 2015, para. 8). The percentage of Canadians over the age of 65 has also
been increasing. This age group represented 8% of the population in 1971, it is now at 16%
(Parkinson et al., 2015, para. 8). This shift from working–age to retired has a couple of negative
effects on the economy. First of all, people in retirement have lower average incomes than those in
the workforce so they pay less in taxes, while using more tax–subsidized services such as healthcare
and OAS. The second effect is that it causes the workforce to shrink, which results in slowing
economic growth. The labour force is Canada has grown by an average of 1.6% in the last fifteen
years, but with more of the population ratio shifting to retirement age, that growth will slow to 0.5%
(Parkinson et al., 2015, para. 14). "Forecasters say this labour stagnation will likely keep real
economic growth below 2 per cent annually over the next decade, below the average of about 2.5
per cent over the past quarter–century." (Parkinson et al., 2015, para. 14). If some of the population
continues to work past the age of 65, Canada's economic growth won't be reduced by as
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Northeastern Mutual Life: Preparing for Employee Terminations
Case Study: Northeastern Mutual Life: Preparing for Employee Terminations
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Introduction
Northeastern Mutual Life, the major subsidiary of the Calgary Insurance Group, is one of the largest
life insurance providers in Canada. Northeastern Mutual Life has more than three million individual
and business customers in Canada. Among its nine thousand employees, Northeastern Mutual Life
employs two thousand six hundred administrative staff.
Gordon Gillingham is the president and chief executive officer (CEO) of Northeastern Mutual Life.
From 1996 to 2000, the return on equity (ROE) of Northeastern Mutual Life has declined steadily
from 11.5 ... Show more content on Helpwriting.net ...
* Normally, when the employees leave their jobs or are terminated, Northeastern Mutual Life
"returns all cumulative contributions plus nominal interests, which is a lot less than the present
value of the employees' future pension and health benefits" (pg. 8). However, Alberta Pension
Commission could order a partial windup of the pension fund, which is substantially more than the
cumulative nominal contribution of those employees. Moreover, according to regulations, the
company is required to file reports to the Alberta Government if it plans to terminate more than 50
people per month. * The requirement of partial windup proposes a problem. It is estimated that if a
partial windup was ordered at Northeastern Mutual Life, it will cost its pension fund an extra
$62,500 per qualified employee that is terminated. * Furthermore, a partial windup can even create
25 to 50 million dollars to Northeastern Mutual Life's current pension liabilities if the senior staff
are terminated. * By contrast, if Gillingham does not voluntarily windup the pension fund or is not
ordered to do so, he will reduce the company's current pension liability by $45,000 per employee.
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Ethical Issues * Obligation to shareholders. CEO's main goal is presumably profit–maximization to
shareholders. The shareholders

The Alleviation Of Poverty And The Complete Eradication Of...
The alleviation of poverty and the complete eradication of financial constraints among most
individuals are two important processes that strive towards the achievement of a better life. The
inclusion of income security programs in the federal policies and programs of most governments is
supposed to protect its citizens from impoverished situations once they grow older. This paper is a
brief essay that discuses one income security program (Canada Pension Plan) that affects life in a
day–to–day manner in specific focus to the country of Canada.
The Canada Pension Plan is one of the income security programs set up by the government in order
to assist its citizens to save for their future (Gros et al, 2013). As a college student living within the
Canadian community, this program has numerous benefits to financial future. To begin with, the
CPP allows individuals to make contributions early in life and then begin to receive monthly
payments once individual touch the age of sixty. However, there are some factors that may influence
the process of policy making for this income security program. One of the factors that affect CPP is
the salary and remuneration one receives (Hemmeter, 2015). This is because the pension is deducted
from the salary based on the earnings that one makes.
According to Steve Hick, income security programs are mainly devised to save Canadians from
unexpected economy circumstances that could arise and interrupt their lives (2013, p. 3).
Historically, the

Poverty In Canada
In 1914, Canadas poverty rate was at a high of approximately twenty percent. At this time in
Canada, it did not matter what age you were, either six months or ninety–nine years old the
likeliness of being poor were very high. Poverty does not only destroy a person's life, it is crippling
to a country its self. Canada was hit hard with poverty, especially during and after the Great
Depression and our government knew there was a need for help. Over the past century, the
government of Canada has created many different types of social programs.1 These programs
implemented Canada have been a big success and have become a very sufficient part in protecting
Canadian citizens from the moment of birth to the moment of death. The three main social programs
... Show more content on Helpwriting.net ...
This was created for individuals or families who make little to no income, and provides them with
money they need to survive. It is a monthly or in some cases a biweekly financial aid that provides
help to get the person or family up to better living standards. There are different types of welfare,
they assist with covering the cost of things like food, housing, child and medical care, and cash
allowance.6 The main goal of this program is to insure that people can go through their life with the
necessary needs and proper living obligations. This was created in 1938 right after world war two
and has brought our poverty rate down forty percent from the rate it was in the 1930s.7 Over sixty
percent of our population is on some sort of government welfare or most likely will be on one at one
point in their life. Each different type of welfare program has different rules, eligibility, benefit and
provisions regarding special assistance. Throughout the duration of the past seventy years, our
government has made it easier to receive this social program, so that Canada can fight off poverty.
Without welfare many people would not be able to afford the everyday needs of life and our poverty
rate would most likely be increased immensely.8 On that note, this is why welfare is one of the main
protection from poverty in

The Charter Of Rights And Freedoms
The Charter of Rights and Freedoms is part of the Constitution and it was added to the Constitution
in 1982. The Constitution has many laws about the essential guidelines one must follow in our
country. It also governs how the government/ organizations should treat their citizens. The Charter
allows the citizens and newcomers to feel like they are appreciated and also safe. However, there are
situations where the Charter cannot protect you. The Charter can be stretched and can be looked at
from different perspectives which is why these cases are very controversial. In Canada, we have
many levels of courts so if someone was rejected by a lower court, they can appeal to a higher one.
Cases that include an individual that feels as if their rights haven't been respected take months
because the appeal to present their case in front of a higher court can take weeks. It is the
understanding of the individual that the if he/she brings a case to the court, they will win because
courts are equal and unbiased but when that is not always the case. There are many cases when the
judge cannot decide because both the challenger and the law are correct. In today's society, equality
issues are ever growing, these cases are brought based on section 15 of the charter that promises
Canadians are fair and equal trial regardless of the differences. Decisions are very tough, so they are
usually made on the grounds of evidence, statutes and precedent cases.
A great example of these controversial

Canadian Pension Plan
1. What benefits does the Canada Pension Plan provide?
The Canada Pension Plan is a contributory, earnings–related social insurance program. It ensures a
measure of protection to a contributor and his or her family against the loss of income due to
retirement, disability and death.
There are three kinds of Canada Pension Plan benefits:
* disability benefits (which include benefits for disabled contributors and benefits for their
dependent children); * retirement pension; and * survivor benefits (which include the death benefit,
the survivor 's pension and the children 's benefit).
The Canada Pension Plan operates throughout Canada, although the province of Quebec has its own
similar program, the Quebec Pension ... Show more content on Helpwriting.net ...
The information is supplied through Canada Customs and Revenue Agency (CCRA), formerly
known as Revenue Canada, and Revenu Québec.
It is important that you check your T4 slip (the statement of earnings you receive from your
employer each year) to make sure that your name and social insurance number are the same as on
your social insurance card. If not, your Canada Pension Plan contributions will not be credited to
your Canada Pension Plan account. This could mean not getting benefits to which you are entitled or
a reduction in your pension.
If you change your name or lose your social insurance card, you should contact the Human
Resources Canada Centre nearest you as soon as possible.
8. How do I find out how much I have contributed?
You should automatically receive a Statement of Contributions annually. However, you can ask for a
statement once a year.
Your Statement of Contributions shows, by year, the total amount of your Canada Pension Plan
contributions, and your "pensionable" earnings on which they are based. If you are over age 30, it
also estimates what your pension or benefit would be if you were eligible now.

Check your statement carefully – particularly your earnings and contributions. You should compare
these amounts to any previous T4 (income tax) slips. If you disagree with any of the figures, contact
us immediately. It could have an effect on the amount

Sears Canada Pension Crisis
The Sears Canada situation has put the former and current employees at the risk of not getting their
full pensions and other benefits paid as promised by the company. This problem was raised due to
the underfunding of the pension plan by the company. this deficit has but over 16,000 former and
current Sears Canada employees at risk of not getting their full pensions. (MacDonald, 2017) This is
due to the pensioner not having any priority's when a company goes through their bankruptcy
process. In order to help those who are affected by this, the government should take actions towards
protecting and preserving the pension of the employees. The help of the government would help
reduce other problems that will arise due to employees not getting their full pension. Such problems
that would arise are; the burden on taxpayers to pay for the loss of the employees and how it is
unfair and unethical for the employees to suffer from the company's faults. The Sears Canada
bankruptcy has been put many former and current employees at the risk of not getting all of their
pensions and benefits as promised by the company after their retirement. This can become a
problem to taxpayers because ... Show more content on Helpwriting.net ...
The government should put laws in place where it can help those who are in a defined benefit plans
get their full pension and benefits when a company is going through bankruptcy. These laws can
help protect employees from losing some or all of their pensions. Therefore, the government should
take measures on protecting and preserving the pension of employees who are on the verge of losing
some or all of their pension due to the company going through bankruptcy. This is currently
happening to the former and current employees of Sears Canada, who are on the verge of losing
some of their

Air Canada's Business Case Study
Air Canada maintains several defined benefit pension plans, including domestic registered pension
plans, supplemental pension plans and international pension plans. Air Canada's pension funding
obligations may vary significantly based on a wide variety of factors. Any changes to these factors
may result in an increase in Air Canada's obligations. Besides, deteriorating economic conditions or
a prolonged period of low or decreasing interest rates may result in significant increases in Air
Canada's funding obligations, which could result in a huge adverse effect on Air Canada`s business.
Underfunded pension plans, failure or inability by Air Canada to make required cash contributions
to its registered pension plans will harm Air Canada`s ... Show more content on Helpwriting.net ...
In section 9.8, MD&A provides more detailed information on above mentioned issue.
Current legal proceedings
Air Canada is involved in or may be subject to legal proceedings which could negatively impact the
company`s operations. Recently, Air Canada was involved in investigations by competition
authorities relating to Air Canada Cargo division and mandatory retirement issues. MD&A explains
the details of the court proceedings.
External risks
Fuel cost, airport user and air navigation fees, foreign exchange, Aeroplan, Star Alliance, key
suppliers, regional carriers, economic and geopolitical conditions, competition.
Fuel cost
Cost of fuel is also one of Air Canada's largest operation costs items. Fuel prices have and may
continue to fluctuate widely depending on many factors and, therefore Air Canada cannot accurately
predict fuel prices. Due to the competitive nature of the airline industry, Air Canada may not be able
to pass an increase in fuel prices to its customers by increasing its fares. In addition, Air Canada
may be unable to appropriately or sufficiently hedge the risks associated with fluctuations in fuel
prices. Furthermore, the impact of lower jet fuel prices could be offset by increased price
competition, resulting in decreased revenues. Significant fluctuations in fuel prices could have a
potential negative effect on Air Canada.
Foreign

Why Is Canada Becoming More Socialist
Canada is becoming more socialist every day.
I agree with this statement. The 3 major reasons that shows Canada a Socialist Country is:
Best place to start a business
This is one of the major reason that shows Canada a Socialist Country. Per Forbes American
Business Magazine, among top ten countries, Canada is one of the best place to start a business. The
support from the government is so feasible. In Canada, it takes only three days to start a business.
Even though they have strong government regulations, the business environment is very favorable.
Mostly, things are better run by the government than that of the private sectors. One of the main
challenge facing by the business people is financial support. The financial contributions and

The Ontario Retirement Pension Plan
The purpose of this paper is to investigate the creation of the Ontario Retirement Pension Plan and
to argue that it is a necessary and potentially effective way to ensure that workers in the private
sector in Ontario will be able to retire and live comfortably. This conclusion is not made lightly as it
is import to view any broadening of government influence through the most critical of lenses.
However, there is an increasing need for Ontarians to save for retirement and it is becoming more
and more apparent that private pension plans will not be able to meet the needs of most people. This
is because too few people have private pensions and the once that do exist sit on volatile ground. In
order to understand why the ORPP is justifiable policy, it is necessary to understand the scope,
extent and dimensions of the policy problem. With the Baby Boomers in the process of retirement
there are fewer people paying to support the pensions of greater numbers of people. Governments at
the federal, provincial and municipal levels have all made financial promises without taking steps to
ensure that promised programs are adequately funded. This is creating two classes of retirees. The
first are public sector employees with extremely generous tax–payer funded guaranteed pensions.
The second is everyone else– the 80 percent of people who depend on other, far less desirable
means like the Canadian Pension which is drastically underfunded particularly when compared to
the pension

The Retirement Pension Plan ( Cpp ) Benefits? Essay
Turning 60? When is the best age to start Canada Pension Plan (CPP) benefits? As you approach age
of 60, it's time to take benefit of your life long hard work in terms of pension benefits. First, you
need to decide at what age you would like to begin your CPP pension benefits. As this decision will
impact your total pension benefits for the rest of your life, caution is advised. This article will help
you to understand when the best age is to being your Canada Pension Plan (CPP) benefits. Let's
assume that Joey, Chandler and Ross will each turn 60 on 9th Sep 2016. Let's also assume that
according to each of their respective CPP Statements of Contribution, they will each receive $1,000
per month if they start their retirement benefit at the age of 65. The difference though is that Joey,
Chandler and Ross wish to start their pension benefits different ages: Joey at age 60, Chandler at age
65, and Ross at age 70. We will analyze how much will they receive as a CPP benefit each year. We
know that as per Canada Pension Plan if you begin CPP before age 65, your pension benefit will be
reduced by 0.6% per month; and if you begin receiving benefits after age 65, your pension benefit
will increase by 0.7% per month. This means that Joey will have reduction of 36% (60 months ×
0.6%) of CPP benefit per month and Ross will receive 42% (60 months × 0.7%) more of CPP
benefit per month. Chandler will receive the same amount as per his CPP Statement of Contribution
(due to

The Impact Of Social Work On The Elderly
When you think about social work, you come to mind of professionals stepping in to help families,
communities and organizations. I neglect consider the elderly and put them last in need of care and
assistance. In terms of the idea about social work with the elderly it has a small impact. The role of
the social worker has a part of administrative requirements. Throughout the period of time and
development of social work there is casework that deal with the elderly. The practice of this that
deal with the elderly had very little recognition until it was carried out by the National Health
Service and Community Care Act 1990 (Jordan, 2005, pp. 43). Social work in Canadian seniors is
that the aging can be attributed to the three factors that ... Show more content on Helpwriting.net ...
This shows that Canada does excellent benefit services and welfare of the elderly that are low
income. The Canada Pension Plan (CPP) retirement pension provides a monthly benefit to eligible
applicants. Also, the Private pension plans provide workers with retirement income to increase their
income from public pension plans. Many business pension funds now underfunded; may be unable
to pay out to retirees. There is concern that Old Age Security/Guaranteed Income Supplement are no
longer adequate. Since 2008 financial crisis led to drop in value of RRSP investments. This
challenges the pension system and the elderly that need social assistance and a way of living
becomes more difficult in the process. Life expectancy has doubled over the past 100 years.
Majority of seniors do not engage in behaviours harmful to their health. There is a health gap
between seniors with low incomes and those with higher incomes. Seniors face a number of
common issues: Inactivity, accidents, victims of fraud and mandatory retirement. Elder abuse and
neglect of seniors is the mistreatment of older people by those in a position of trust, power, or
responsibility for their care. Neglect is frequently associated with abuse. Abuse may take place in
the home or institutional setting. Institutional Abuse is any act or omission directed at a resident that
causes the person harm, or that wrongfully deprives that person of his or her independence. Social
work in the long term care settings

Unexpected Inflation
Unexpected Inflation and Redistribution of Wealth in Canada
Césaire A. Meh, Canadian Economic Analysis, and Yaz Terajima, Financial Stability
One of the most important arguments in favour of price stability is that unexpected inflation
generates changes in the distribution of income and wealth among different economic agents. These
redistributions occur because many loans in the economy are specified in fixed–dollar terms.
Unexpected inflation redistributes wealth from creditors to debtors by reducing the real value of
nominal assets and liabilities. This article quantifies the redistributional effects of unexpected
inflation in Canada. To this end, we first provide comprehensive evidence of the nominal assets and
liabilities of various ... Show more content on Helpwriting.net ...
Hence, when inflation is high, the value of these assets and liabilities falls in terms of purchasing
power, since the prices of other goods and services go up with inflation, but payments on these
financial claims are fixed. The extent of the changes in the purchasing power of financial assets and
liabilities also depends on the term to maturity, as we will show later on. In this section, we
document Canadian holdings by type and maturity in various categories of assets and liabilities.
Specifically, we look at asset and liability positions for three sectors: household, government, and
non–residents.5 We also consider different groups of households. The objective is to show that,
among these different groups of agents, holdings of nominal assets and liabilities differ in both
qualitatively and quantitatively important ways. Given that these differences exist, there is potential
for redistribution among them following inflation shocks.
(SFS). The NBSA documents the ownership of financial and non–financial assets and liabilities by
sector. We use the NBSA to compute the net asset and liability positions of the household,
government, and foreign sectors. The SFS is a household survey data set on income and wealth. We
use the 2005 wave (the latest available), involving about 5,000 households, with weights to produce
Canadian aggregates. It provides a comprehensive

Lester B Pearson Impact On Society
Throughout history there have been many great Canadians who have changed Canada in a positive
way. Lester Bowles Pearson (see figure 1) was a Toronto professor, a historian, and the 14th Prime
Minister of Canada. Lester Pearson was in office from 1963–1968 and was considered a great
leader. Through his many important decisions and accomplishments, he made a significant positive
impact in developing Canada's history.
Lester B. Pearson was born in Toronto in 1897 and died in 1972. During his lifetime he improved
the lives of many Canadians by implementing a Canada Pension Plan, introducing Canada's first
distinctive national flag, oversaw the adoption of an official national anthem, and the enactment of a
Universal Medicare System.
Under Lester ... Show more content on Helpwriting.net ...
Before Lester B. Pearson came into office there was no healthcare system in Canada resulting in
poor health for many Canadians. When the Medicare system was introduced it meant a better life for
many citizens of Canada. A Medicare system was first developed during WWI to help wounded
veterans. 7 In July of 1962, Medicare became the "first government–controlled, universal,
comprehensive single–payer medical insurance plan in North America."8 With the availability of
Medicare, sick labourers returned to good health allowing them to go back to work. The return to
work provided family members with an increase in income, therefore stimulating the economy with
the extra money available to spend. The Medicare system promoted a sense of patriotism wherein
Canadians helped Canadians. Because of Pearson's implementation of the Medicare system, positive
significant changes resulted for

Why Canada Is A Social Policy Perspective
1. Canada is known to be one of the most developed countries in the world, with a wide range of
social programs that contribute to a high–standard of living. As with many mixed economies,
Canada could be described as a 'welfare society ', meaning that the government plays a major role in
ensuring the well–being of its citizens. This comes in the form of free healthcare, access to
education, employment insurance and various other social programs. Despite Canada 's record of
being a fiscally balanced and responsible nation, there are still several pressing issues facing the
economy and country as a whole, specifically from a social policy perspective. Four key issues
include:
I. Senior Citizen Income Security
It is estimated that by 2030, ... Show more content on Helpwriting.net ...
(Service Canada, 2013)
As a senior policy analyst, I would purpose that the Government of Canada take steps to educate
citizens about the importance of individual household fiscal responsibility, and having a personal
retirement fund. I would also suggest creating an incentive that gives major employers a tax break,
in exchange for providing their employees with private sector retirement and pension plans.
II. Low–income Assistance
The Canadian 'Welfare' system provides financial support to citizens in need and attempts to ensure
that individuals and families are not at risk of living in poverty.
While this policy works in theory, there are many flaws to the system, which hurt the average
citizen, as opposed to protecting them. For example, it is nearly impossible for someone to apply for
low–income assistance, if they have any type of savings in the bank.
In essence, this means for an individual in need, they must first drain their entire savings, retirement
and education accounts, before becoming eligible for provincial benefits. This makes it incredibly
difficult for someone to escape the welfare system and cycle of poverty, essentially forcing them to
become destitute. (Mosebraalen, 2010)
The guidelines surrounding a Welfare recipient's right to work also complicate the process. Working
part–time or even temporary jobs will disqualify an individual from receiving benefits. Often times,
this will discourage people from even trying to find employment.
As

Essay on Canadian's Aging Population
There is diversity among all Canadian, hence there is differences among the aging population. Not
all seniors are aging well and have the appropriate programs and services to meet their needs. Some
seniors are victims of abuse and some are living in isolation and poverty. Some seniors suffer from
chronic illness and other socio–economic factors limit the amount of money they can put away for
retirement. Hence these middle and low income elderly retirees will have to depend mainly on the
pension plan that is offered between the age of 60– 65. The age of 60–65 is regarded in Canada as
the age of retirement. This paper will focus mainly on the disadvantaged older populations. The
disadvantaged older populations are those who are currently ... Show more content on
Helpwriting.net ...
These concerns were reinforced by the fact that many elderly Canadians were applying for public
relief." However, it was not until several provinces began complaining about the amounting cost of
relief that lead to the federal old age pension scheme. "Guest (as sited in Chappell, 2006) the federal
government made a commitment to assist the elderly and the old age pensions act was established in
1927." All Canadians were entitled once they reach the age of seventy or older in contrast to today,
one can retire at the age of 60–65. The Canadian government eventually shared the cost of relief
with the provincial government. The old age pension act has been criticized because of the
inadequate in benefit pay outs. According to Guest (as sited in Chappell, 2006) in 1951, the old age
pension was replaced by two pension plans, Old Age Security and Old Age Assistance." The Old
Age Security provides universal benefits and was funded by the federal government while the Old
Age Assistance was funded by the federal and provincial government and managed by the province.
As Guest (1997) pointed out, The Canadian Pension plan and Quebec Pension Plan was introduced
in 1965 which individuals could collect once they retired, however they had to have made
contribution between the ages of eighteen to seventy years of their working life.
People also had the opportunity to contribute to

Pension Law Case Study
Residents in Abbotsford, BC seeking legal counsel pertaining to pension division governed by the
section of Benefits and Pension Law will discover changes affecting survivors, limited members and
maturing pensions. In general, legal assistance is needed when benefit and pensions are affected as a
result of changes within a relationship. Legal services in Abbotsford, BC include advice on the
pension plan at issue, clarification of division options available and drafting of the pension division
arrangements.
Your pension is planned for retirement income and may be connected to public and private pension
benefits related to the Canada Pension Plan (CPP), Registered Retirement Savings Plan (RRSP),
Life Income Funds (LIF), supplemental plans, disability and flex benefits. The CPP in British
Columbia is the most traditional plan for retiring after working a full time career. All workers start
... Show more content on Helpwriting.net ...
CPP benefits have stipulations for receiving disability, spouse and pension sharing and death
benefits. More important are the guidelines to continue receiving pension distributions according the
General Drop out Provision; covering child rearing, common law partners and reduction of work
contribution as a primary caregiver within the CPP guidelines.
Legal Procedure
Today, CPP changes in pension law reform, particularly for division requiring expert and legal
guidance. Legal services may fall into two categories; business benefits and pension and family law
for litigation or class actions. Litigation is a process to resolve disputes by filing a complaint. The
complaint is governed through a legal process to determine the change or value of benefits under
family law practices. A class action is usually business related representing the collective who may
have suffered damages. Both methods require some level of legal representation to reach a
settlement.
Family

Canada In The 1950's And 1960s
The 1950s and 1960s were widely recognized as the second "Golden Age" after the 1920s.
However, it is questioned whether it really was a period of growth and stability for all the citizens of
Canada. Many French Canadians have brought up the question about if their rights and needs were
properly recognized by Canada during this time period. The needs of French Canadians were met to
an extent by Canada in the 1950s and 1960s because of the inclusion of their culture, the economic
standing of French Canadians, and the unification of Canada as a country.
First, the cultural needs of French Canadian citizens were recognized and worked towards in an
effort to sustain their culture. Canada included the language aspect of French Canadian culture ...
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Through creating an accepting, unified nation, French–Canadians were both more included and
accepted in the country. The introduction of the Canadian flag in the 1960s presented a new view on
French–Canadian equality in Canada. Past Prime Minister Lester B. Pearson wanted to create a
national flag for Canada that could act as a unifying force of the country, leading to the creation of
the Maple Leaf flag, which is still used to represent Canada as a whole today. With this request
which was granted by Parliament in 1964 and by Queen Elizabeth II in 1965, French Canadians
became a more unified group along with the rest of Canada due to this new symbol of the country
that represented all of its citizens as a whole instead of only clusters of them. Moreover, unity in
Canada was improved through the Medical Care Act of 1996. This act changed health care from a
business for profit under private agencies into a service for the all of the people of Canada, in
addition to extending health care coverage for doctor services outside hospitals for Canadians. With
this act, the prospect of equality between the citizens of Canada, including citizens of Quebec began
to improve, which further promoted the idea that Canada and its population should act as a more
unified force with acceptance and inclusion between all of the individuals in it. Thus, with the
introduction of the national flag, as well as national health care in Canada, French Canadians
became a more respected, established group that was included in many other rights and laws,
showing their equality to and harmony with the rest of

A Pension Policy For The Province Of Ontario
A pension policy for the province of Ontario is being discussed, in an attempt to make it more
effective or being readily available. The existing issue is how it functions in low interests rates and
low returns in equity markets. Also, the low participation in such plans is failing the system as a
whole. It is important the government to protect workers in the private sector; as it is noted one–
third of the paid workforce in 2005 was in a registered pension plan. Canada lacks when it comes to
voluntary employer–sponsored pension plans and tax–assisted programs, like the TFSA, who must
improve their services. The current pension plan fails to accommodate for private sector workers
that are provided with no other occupation–related pension program other than the CPP. Many of the
solvency funding rules are still adopted from the Ontario Pension Benefits Act in 1966. The
voluntary participation system has failed in Canada. The government must change into a
compulsory contribution system for it to achieve the sufficient accumulation of assets. It is of
concern that "nearly two thirds of private sector DB pensions plans operated either closed or frozen
plans". All pension plans should be based on individual circumstances, but currently the system
lacks in regulating. The other main issue is low household saving rates that are misbalancing
pension funds reserves. Many politicians are focusing on the type of pension scheme to use, instead
of finding a way to increase the level

A Recipient Of And Oas Pension Before You Are Eligible For...
How To Apply You have to be a recipient of and OAS pension before you are eligible for the GIS
benefits. If you are delaying your OAS pension, you will not be eligible for the GIS benefit even
though you meet the other requirements. If you are already a recipient of the OAS pension, but not
the GIC benefit, you can apply online using the My Service Canada Account service, or by mail.
See the Resource section of the chapter for more information. If you are currently receiving the GIS,
your benefits will be renewed automatically each year, as long as you remain eligible and file an
annual income tax return on time. If you do not file your return on time, you will receive a renewal
form from Service Canada. If you do not renew your application for the GIS in the spring by either
filing your income tax return or completing a Renewal of Guaranteed Income Supplement form,
your GIS benefit will stop in July of that year. 2.1.3 CPP/QPP Retirement Pension The
Canada/Quebec Pension Plan Retirement Pension provides a monthly taxable benefit to an
individual who meets the eligibility requirements. Eligibility Requirements You are eligible to apply
for a retirement pension when you are age 60 or over if you have made at least one contribution to
the plan, regardless of whether you have stopped working or not. The standard age to begin
receiving the pension is 65. However, you can take a permanently reduced pension as early as age
60 or take a permanently increased pension after age 65.

401 Plan Should Not Be The Retirement Options
Employer matched 401k plan should not be the only retirement options people have its one of a few.
Company pensions are almost a thing of the past many companies are doing away with this benefit
due to cost associated with maintaining this plan. Today most people don't even stay at a job longer
than five years, with this type of turnaround it would make it that much more costly to an
organization to maintain this benefit. The key to addressing the retirement needs of your employees
it to educate them. By providing educational retirement workshops the employee will be better
equip in making informed decisions about retirement. We all know it's never early to plan for
retirement the earlier the better. Young people as young as twenty should have a retirement plan
already under way, when you are educated and informed you put yourself in a better position in the
long run. As the HR professional in charge of informing the employees I would have a meeting
broken into groups by departments. At the meeting I will explain our company's retirement options
company wide. Literature should be distributed explaining the plan how it works and what to expect
when that time comes. Keeping the lines of communication open with the employees is essential;
the employee should understand fully all aspects of the employer sponsored retirement plans.
Outsourcing has grown in popularity in recent year's health care reform along with compliance
challenges are the biggest contributing

History Of Independent Contractors And Employees
Introduction Independent contractors and employees are two significantly different types of workers
and this distinction is clearly important in the realm of business as it alters many policies. As a
result, the court is often tasked with the question of differentiating the two types of workers. To help
the judges with this question, the upper level courts have created multiple tests to help determine an
employee from an independent contractor ranging from the test developed in the case of 1671122
Ontario Ltd. v. Sagaz Industries Canada Inc, Housen v. Nikolaisen, 2002 SCC 33 to Wolf v. The
Queen, 2002 D.T.C. 6053. This is concerning to have these many tests as it creates confusion, but in
the case of Connor Homes v Canada, 2013 the court attempts to create a uniform test. This paper
will use the concept of F.I.L.A.R., fact, issue, law, application, ratio to examine the Connor Homes
case to show why this case's outcome substantially impacts business practices.
Facts Before describing the facts of the case, it is worth noting that all the facts have already went
through the court scrutiny as the facts are taken from the subscript of the Appeal court. What this
means is that the facts are deem to be legitimate as the lower level courts would have already
questioned the creditability of the facts, since the upper level courts do not concern itself with
questions of law.
Connor Homes is the appellant in this case and he is a license foster care operator. This means he

How Did Lester B Pearson Change Canada
Lester B Pearson was a very influential Canadian who made a difference to every Canadian. He was
responsible for implementing universal healthcare for all Canadians nation wide, Canadian pension
plan and the modern idea of peacekeeping.
He was in charge for putting into action a universal healthcare system for all of Canada. "Canadians
must have equal access to state–provided medical services. Parliament passed the Medical Care Act
in 1966 but financial exigencies postponed its operation for a year"(English, 2005). This form of
social welfare was different for the time compared to other countries. With the system that he
implemented this has given Canadians a lot of freedom financially. This has changed Canadian
citizens in a way where ... Show more content on Helpwriting.net ...
In the department of Health and Welfare, the new government had developed a national contributory
pension plan that was based on the Liberal campaign promises. (English, 284–285)
This gave Canadians a monthly income that they would pay into during their working career and
receive it when they become 65 years old. This also put Canada a step forward in defining itself as
the great nation that it is today. The Canada Pension Plan is another example of Lester B. Pearson's
edicts that helped improve the social security programs for all in Canada.
Lastly he helped solve global conflicts between nations by putting together the United Nations
Emergency Force to help stop the Suez Canal crisis in 1957. We support the effort that is being done
and come together and mutually agree with one another that a peace treaty must be agreed upon
(Lester B. Pearson, 148–150). The Newspaper stated that an immediate cease–fire was in effect for
both countries and a U.N force was to patrol the borders if need be (John English, 136). At the time
what he did by creating the United Nations Emergency Force was considered the first real
demonstrations of what would be called

Pepsico vs. Coca-Cola: Pension Plan Analysis
Which pension plan is more secure Pepsico or Coca–Cola?
Coca–Cola's pension
Coca–Cola was one of the earliest companies to adopt a cash–balance plan for their employees ever
since Congress passed the Pension Protection Act in 2006.
The cash–balance plan states that employees will receive annual cash weighted credits that are equal
to a percentage of pay and that these credits will start at 3% of pay and increase with age.
The Coca–Cola's cash–balance plan is also accredited with interest which makes the pay more and
raises its attractiveness.
This cash–balance plan is far more seductive and lucrative to employees than traditional plans since
their benefits accrue faster. In traditional plans, such as those in Pepsi, workers have to work many
years until they actually see benefits pay off.
Coca–Cola also allowed its employees to set up new cash balance plans without fear of litigation.
This is different to some other companies who were actually sued in their implementation of cash–
balance plans since they had imposed them in such a way that they had inserted age discrimination.
In 2008, Coca–Cola accorded $149 million in terms of pension plans and $23 million was
discretionary. Their cash benefits for medical reasons in connection with pension were
approximated to be $100 million in 2009 although their pension rate in that year plunged too
somewhat due to the recession. Their medical plans are funded on a pay–as–you–go basis.
Pepsi's Pension
PepsiCo's pension plan

The Canadian Oil Industry's Impact On Canada
A Nation at a Cross– Road: The Canadian Oil Industry's Impact on Canada The Overview: Diverse
and multi–faceted, the Canadian business market is one of the strongest functioning mixed market
economies in the world. Within the Canadian economy, the oil and gas sector stands as one of the
largest and most influential sectors. The oil and gas industry is unique as it affects almost every
person and sector of the economy worldwide, whether it is through commodity or material input
costs. In Canada, this growing industry could allow for the country to be the one of the "biggest
energy producers in the world" leading to a massive paradigm shift globally. The question that has
arisen from this shift is whether or not the Canadian oil and gas industry inclusive of the upstream,
and midstream sectors, has a net positive benefit to Canada. This essay will explore and seek to
understand the myriad of issues that this industry faces daily. The reason this question has to be
answered is simple, Canada sits at a very important junction in its evolution; does it continue to
push forward to become an energy superpower or does it let the environmental conversation win,
pushing forward instead with a clean energy agenda? This essay will hopefully drive this
conversation forward. Research and Analysis: Part 1: Canadian Upstream Sector (Drilling and
Production) The first of three pillars that make up the oil and gas industry in Canada is the upstream
sector, which is comprised of

Canadian Political Parties
"Choices made, whether bad or good, follow you forever and affect everyone in their path one way
or another" (Spredemann). This quote strongly relates to the issue on hand, if the new formed
political parties had an affect on how Canada is now. Firstly, the social credit party fought for things
which are now available in Canada. Secondly, the Parti Quebecois stood for Quebec's independence,
and today, they have much more political power as a province than they used to. Thirdly, without
the CCF, Canada might have not had the social programs it has today. In brief, without the creation
of new political parties in Canada, the freedoms and amenities available might have not existed.
The social credit party fought for things which are now available ... Show more content on
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Firstly, Canada has two official languages and considers Francophones a major part in Canadian
history. Even though, French–speaking Canadians are a minority in today's society, they are
recognized as a minority and play a major role in Canadian society and politics. Secondly, the
people of Quebec were given the opportunity to vote in the referendum of 1995, voting yes or no for
independence of Quebec. Many Quebecois wanted independency from the rest of Canada, and the
results were very close. The percentage of people who said no were 50.58% and 49.42% of people
said yes. The party which was in provincial power at the time, was Parti Quebecois. Thirdly,
Quebec's strong pride for it's language and culture, has caused French to be the only prominent
language in Quebec. The people of Quebec feared that Francophones would assimilate and lose heir
language and culture. A law was passed which made it mandatory that signs must be in French or
the French must be bigger than the English. There is actually a police force which fines people for
putting up English signs. As a result, Quebec has much more political power as a province than they
ever used

How Did Pearson Change Canada
While in the position of prime minister, Pearson improved the quality of life for all Canadians. He
did this in various ways, one of which was by creating universal healthcare within Canada. Pearson,
with association with the then Minister of National Health Allan MacEachen, developed a new
medical care program in 1967. This was outlined by The Medical Care Act, and it had offered to
share the cost of one–half of all provincial medical services provided by clinical doctors. Also, the
program ensured that every patient received equal treatment and prices from their doctors. This
assistance/insurance plan was available to every citizen from any province. Prior to the
implementation of this program, doctors had the ability to charge a patient ... Show more content on
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However, after the CPP came into effect, Pearson had changed their low status into a higher one.
This pension plan compelled workers to save for the future and thus allowed the senior population
of workers to live a prosperous life with guaranteed income. With more money, seniors could
maintain the possessions and assets that they had prior to retirement and not have to give them up
due to their impoverished situation and need for more money. Likewise, they would not have to
sacrifice as much of their daily habits and pleasures because they could not afford to partake in
them. However, seniors were not the only individuals who experienced positive change because of
this plan, so did the workers themselves. Employees felt a sense of safety and satisfaction when
going about their lives since they knew that their financial future was more promising than bleak.
With this plan, Pearson subdued most of the anxiety that workers would experience when
contemplating their future by forcing them to constantly secure their own future. Thus, based on
Lester B. Pearson's contribution to the making of universal healthcare in Canada as well as the
Canadian Pension Plan, it can be concluded that Pearson positively changed the health, mental and
economic well–being of all

Pension System In Australia
Overview Global retirement income systems are stretched to the limit these days. People on the
verge of retiring are worse off than those who retired a decade earlier due to the rising cost of
purchasing an annual flow of future income in most jurisdictions around the world. According to
Glenn Stevens, governor of Reserve Bank in Australia, the global retirement income system is under
a lot of pressure, and the problem "must be acute" in Europe, where sovereign yields in some
countries are negative for significant durations. Mr. Steven's went on to say, "How will an adequate
flow of income be generated for the retired community in the future, in a world in which long–term
nominal returns on low–risk assets are so low?" According to Mr. Stevens, "they have to accept a lot
more risk to generate the expected flow of future income they want," he warned. So, in a world in
which long–term yields on low–risk assets (i.e., bonds) are so low, what's a retiree to do? Pension
systems vary across countries, and there's no single model for all. The pension landscape is
changing In OECD countries. Recent reforms are changing the way pension savings are distributed.
In several jurisdictions like Britain, Denmark, Australia, Holland, Sweden, Switzerland and Canada,
pension reforms have allowed retirees to take control of their own retirement pots to spend as they
please. The changes apply to people with defined contribution pension schemes, which both
employer and employee contribute to

Sears Canada Essay
Almost everyone has heard about the demise of Sears Canada. The loss of such an established and
renowned retail company caused quite a stir. While many speculated the company hadn't done all it
could to keep up with a changing retail environment, others pointed to those same changes as a
herald of things to come. Of more interest to employers and HR managers, employees, and the
general public alike was the way Sears handled issues such as benefits and pensions for current and
former employees. The Sears Situation Sears announced it was liquidating and closing all retail
locations shortly after a country–wide rebranding effort. The retailer had long been in trouble, and
the effort was meant to revitalize the company's brand and make it more ... Show more content on
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As the middle class has been hollowed out in Canada, there were fewer of these shoppers and more
shoppers at either end of the spectrum. Both higher–end shoppers and lower–end shoppers avoided
Sears, for opposite reasons. Other factors were at play, including a dowdy brand image among
younger consumers, a lack of perceived quality, and pricing. Management practices can also be
called into question, particularly when it came to supporting employees who were losing their jobs
and benefits. The Sears Solution Clearly, Sears Canada found it could no longer operate and decided
to wind down its operations. All current Sears employees lost their jobs, in addition to their benefits.
Those former employees who had been receiving pensions from Sears Canada had their pensions
cut off. This move outraged employees, their families, and members of the general public. Making
matters worse, Sears Canada opted to pay large bonuses to executives and upper management.
Many argued those bonuses could have, and should have, been used to support employees as they
looked for new work or to help those who were relying on Sears Canada for their income in
retirement or while on disability. The

Js Woodsworth Biography
J. S. Woodsworth was born in Etobicoke, Ontario on July 29, 1874
(http://www.thecanadianencyclopedia.ca/en/article/james–shaver–woodsworth/). Woodsworth went
to Wesley College in Winnipeg, Manitoba after he finished high–school in 1891. In 1896,
Woodsworth was ordained as a Methodist Minister, following in his father's footsteps. Two years
later, Wordsworth entered the theological course at Victoria College in Toronto (A Prophet in
Politics). He also attended Oxford University in England in 1899. After he returned to Canada, he
began working as the minister at Grace Church in Winnipeg. Woodsworth started doing missionary
and social work in Winnipeg and Toronto slums, focussing on the poor and immigrant families. In
1904, he married ... Show more content on Helpwriting.net ...
The strike failed, and Woodsworth realized that the only way to change things was through the
government. Woodsworth was a popular Winnipeg politician because of his part in the Winnipeg
General Strike, leading to his election as the Winnipeg North Centre Member of Parliament in 1921.
His slogan was "Human Needs before Property Rights"
(https://www.historicacanada.ca/content/heritage–minutes/js–woodsworth). Woodsworth's purpose
was to "establish a strong working–class political party on the British model" (A Prophet in Politics
p 130). He held the position at the House of Commons until his death. As a Member of Parliament,
he was an advocate for farmers, the elderly, labourers, immigrants, and the unemployed, and his
main goals included labour rights, improved social welfare, and democratic socialism for Canada. In
the 1920s, he sat with the Progressive Party of Canada, and joined the more radical faction of the
party, known as the Ginger Group. In 1926, Woodsworth and another Labour Party member, A. A.
Heaps, held the balance of power in the House of Commons
(http://www.mhs.mb.ca/docs/people/woodsworth_js.shtml). In return for providing the votes Prime
Minister Mackenzie King needed to stay in power, the Prime Minister would introduce an old–age
pension plan. However, although the bill had been passed in the House of Commons, it did not get
passed in the Senate. Later on, there was another election, and the senators realized that if they
didn't pass the old–age pension plan, their own pensions would be at

Second World War Effects On Canada Essay
The second world war had a significant impact on Canada. Fought from 1939 to 1945, the war
consisted of many events which led to drastic changes for our country. Despite the destruction and
disaster it caused, the war played a part on shaping Canada's relationship with America. Most
importantly, their economy was benefited through Americanization. Canada's government was more
involved which led to a political system called the welfare state. The war also impacted Canada's
liberal view towards the acceptance of European immigration. World war two altered and benefited
every aspect of Canada's structure; economically, socially, and politically.
The war caused a great development in Canada's economy. Americanization played a big part in this
as it increased the relationship between both countries (Slater 8). Foreign ... Show more content on
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In 1945, the immigration policy changed and Immigration expanded (Quebec History). Thousands
of Europeans came to Canada hoping they could build a better life, however, Prime Minister King
did not allow all immigrants. May of 1947, he declared an immigration policy to control population
growth. He allowed immigrants who easily understood and strictly skope English or French (Filice).
Due to the economic growth, Canada was in need for people who could work in labor and
expanding industries. During this time, they experienced a large human migration from the
Netherlands. In 1947,about 15000 Dutch farmers came to Canada (Filice). Canada and the
Netherlands had an agreement known as the Netherlands Farm–Families Movement, which allowed
to immigrants to work on canadian farms until purchasing their own land (Filice). 2000 war brides
were also a part of the immigrants and many caused caused Canada's "baby boom" (Filice). This
increased Canada's birth rate to 24.3 and by 1946 it had jumped to 27.2 (Krotki and Henripin).
Immigration had a huge effect on Canada's population and created better lives for many

The Retirement Period Of Canada
Retirement Age in Canada
Mark Cummings–Snyder
6928881
Human Resource Management
HRM–2040
Pierre Brunet
March/14/2016
Every individual has the dream of freedom fifty–five, but as research has suggested it's becoming
more and more apparent that most individuals won't retire at fifty–five many won't retire at all.
Retirement age has had a significant impact on all generations from baby boomers to millennials. In
recent years' older generations are working longer, lifespans are increasing and government
pensions are fluctuating. Individuals and organizations are struggling to find a balance between
experience and opportunity. Poor economic conditions and longer lifespans have resulted in the
termination of mandatory retirement policies and the evolving opportunity for longer working
careers. Changes to Canadian Pension Plans and Old Age Security have been implemented as a
result. Financial insecurity has created cause for concern for individuals, organizations, and
governments. From published articles to government reports this essay will provide an in–depth
analysis on retirement age.
Removing Retirement
Overview
Retirement is an ongoing debate between individuals, governments, and organizations. In recent
years, the Canadian government enforced termination of mandatory retirement with one exemption.
Lifestyles have changed lifespans have increased and experience is essential in today's world.
Statistics show individuals want to continue working after

Canada 's Public Pension System
Canada 's public pension system consists of a combination of federally and provincially sponsored
programs:
1. The Old Age Security program which provides Canadians with a pension at age 65 if they satisfy
certain residence requirements.
2. The Canada/Quebec Pension Plan which provides Canadian workers and their families with
partial replacement of earnings in the case of retirement, disability or death.
3. The Provincial Income Supplement Programs which provide their low–income residents with an
income supplement to the Old Age Security benefits.
4. The Veterans Affairs Canada Program which provides qualified veterans with retirement,
disability, and death benefits.
These programs were created to help eligible Canadians answer concerns ... Show more content on
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Between 1965 and 1969, the age of eligibility went down gradually from 70 to 65. In the 1970s, the
government started to index the pension payments to the consumer price index, and to provide
supplemental benefits such as the Guaranteed Income Supplement, the Allowance, and the
Allowance for the Survivor to low–income pensioners.
In the late 1980s, after a prolonged period of inflation and economic stagnation, the government
began to see the pension system as costly and started to levy a special tax called "recovery tax" on
OAS pensions to reduce and ultimately eliminate the OAS pension for people whose annual income
exceeded a certain level.
Today, the benefits of the program include:
1) The OAS pension
2) The Guaranteed Income Supplement
3) The Allowance
4) The Allowance for Survivor.
The program is funded entirely by the general revenues of the Government of Canada, and provides
a basic level of support to those with no other sources of retirement income. In 2014, the total
expenditure of the program was 2.3% of GDP, with 35 billion paid in OAS pension and 10 billion in
Guaranteed Income Supplement to 5.5 million seniors.
Service Canada is the administrator for the OSA program. See Exhibit I more information.
1.2 Canada/Quebec Pension Plan
The Canada Pension Plan (CPP) is a mandatory contributory earnings–related public pension
program for Canadians since 1966.

Frailty Syndrome As Elderly Individuals Essay
Life expectancy has increased dramatically in the last century due primarily to the control of
infectious diseases, especially in the younger cohorts and the improvement of medical care and
nutrition. This has, however, resulted in a large percentage of the older population suffering chronic
diseases.
The population within Canada is aging and we are living longer than we have in the past. According
to Statistics Canada (2012), from 1920–1922, a man's average lifespan was 59 years of age and a
woman's average lifespan was 61 years of age; in 2012, this has now increased to 79 for men and 83
for women. This increasing lifespan has created a new frontier in the health and wellbeing of the
elderly as it has resulted in a consequent increase in complex health care needs of elderly people
with Frailty Syndrome. Fried et al. (2005) identify Frailty Syndrome as elderly individuals "meeting
three out of five phenotypic criteria indicating compromised energetics: low grip strength, low
energy, slowed walking speed, low physical activity, and/or
Health care systems across Canada are becoming strained by this aging cohort and will continue to
become even more so in the coming years. It is estimated that the number of frail elderly in Canada
will "double to well over 2 million within the next 20 years" (Young, 2015, pg. 1) and it is
imperative that we look at how we are going to be able to support this through changes in our
healthcare system. One means of doing this is to create more

Essay On Social Welfare In Canada
How did Canadians life improve after the Social Welfare State? As we know, the Social Welfare
State was published in 1967, which was used to provide help to those poverty, homelessness,
unemployment or disability citizens. To help them had a better live condition or had enough money
to survive. Therefore the Canadian government set up several policies to improve Canadians life.
For instance, the Canadian Pension Plan, Canada Health Act and Child Welfare League of Canada.
These policies or laws finally successfully helped Canadians life after used them. First of all,
Canada government established the Canadian Pension Plan in 1965 which was help to transfer
workers income to retired. This policy worked for the workers average lifetime earning 25%.
During that time the maximum help was $8842. Also it provided help to the disability and orphans.
"The CPP used to funded on a pay–as–you–go basis." (Encyclopedia) Means that CPP would pay
for the pension and 2 years emergency fund. The left money would land to the provinces or
government. This basis was used to accelerate the growth of contribution rate, accumulated more
funds to ... Show more content on Helpwriting.net ...
The retired workers could get enough pension so that they could live more comfortable and didn't
nave any pressure. The vulnerable children also got safe and comprehensive protection according to
the Child Welfare League of Canada, such as their rights, welfare and justice, as well as worked
with other countries to met their targets. Lastly, all the Canada citizens could get effective and
guaranteed health care form the Canada Health Act, citizens treated equally and wherever they were,
always could get help, also there was no discrimination to others. Form those points, the Canadians
life were improved sustainable by the legislated or established the Canadian Pension Plan, Canada
Health Act and Child Welfare League of

Equinox Asset Management Case Study
Portfolio Management Case 6 Equinox Asset Management Executive Summary Role playing Tom
Henne, I'm trying to penetrate into pension market and change the way pension funds are run
currently. The fund size is hard to tell since the cost structure of Equinox is unknown. But I have a
rough idea of running a medium–size fund (between $30 to $50 million) targeting medium–size
clients. I also decide to choose option 1 as the fee structure. These ideas are generated through
analysis of current economic environment, Henne's objectives, correlation between existing funds
and TSX index, performance and size of existing funds. Pension funds in Canada Pension funds are
established in order to provide income for people who are retired. So ... Show more content on
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20% of a small fund can be too little for Equinox. If Equinox targets large funds, it can only hold
1% to 5% of them. Large pension funds may not be willing to separate its asset into small pieces
because it will rise the cost of management. Equinox's marketing point The most attractive
marketing point should be the fee structure. Equinox's MER is much lower than other pension
funds. Getting paid based on the return of the fund instead of the size can effectively eliminate the
agency problem since it aligns the interest of clients and managers. Clients can see greater
opportunities to get higher return by investing in Equinox. 2 Equinox should provide lower MER or
it can show no strength compared to the existing big pension funds. Option 4 is too risky for Henne
given current market environment. He may not be able to cover the cost if the market has not come
out of the downturn. 3 Equinox needs $52.5 million to cover the fixed cost if Henne chooses option
2 and $105 million if he chooses option 1 4 A medium size fund of $30 to $50 million has little
difference in return based on fund size no matter Henne chooses option 1 or 2.. Henne also appears
to be pretty confident in the performance of Equinox. So it can be more profitable for Henne to
choose an option with higher performance fee based on excess over returns. Appendix: Chart 1:
Information of Six Funds in Exhibit 3 London Life Canadian Equity RBC Canadian Equity CIBC

Canada Pension Plan Pros And Cons
1. Canada Pension Plan (CPP) – CPP is a government sponsored pension plan available to all
working Canadians. Everyone pays into it and receives retirement benefits based on how much and
how long each person pays into it. The CPP provides pensions and benefits when contributors retire,
become disabled, or die. The amount you contribute is based on your employment income. You
make contributions only on your annual earnings between a minimum and a maximum amount
(these are called your pensionable earnings). The minimum amount is frozen at $3,500. The
maximum amount is set each January, based on increases in the average wage in Canada. The
maximum amount for 2015 is 53,600 The expected income from Canada pension plan for Alan is
$6,156 annually and for Alicia is $8,964 annually. (Additional information – Appendix A) 2. Old
Age Security (OAS) – The OAS program is operated by the federal government in accordance with
the Old Age Security Act. It is essentially a public assistance program, meaning that recipients of the
benefits do not contribute directly to the cost of providing the benefits. The Old Age Security (OAS)
pension is a monthly payment available to most Canadians 65 years of age who meet the Canadian
legal status and ... Show more content on Helpwriting.net ...
Registered retirement savings plan (RRSP) & Registered retirement income fund (RRIF) – RRSP is
an account that holds savings and investment assets. It has various tax–advantages when compared
to investing outside of tax–preferred accounts. RRSP was formed primarily to promote savings for
retirement. Your contribution room builds up from the time you begin to work. Amongst both, Alicia
has invested in RRSP whereas Alan has not invested in RRSP. But you both have different RRSP
contribution room which could be helpful for future investments. You both will have a contribution
room of $172,016 and $372,160 (Alan and Alicia) in 2052.It has been assumed that Alicia invested
in her RRSP in 2011 and contribution room is adjusted for the

Changes in Pension Accounting Over Time Have Improved...
Pensions are financial arrangements that allow individuals to receive an income stream during their
retirement years (Tatum, 2011). They are found in government institutions, private businesses,
professional groups and various other settings. Pensions funds can be found as a part of an
institutions or as an independent plan. Pension plans are a major participant in the capital markets.
For example, consider the fact that Ontario Teachers' Pension Plan has a net asset value of $96.4
billion at the end of December 31, 2009. Due to the large stake of pension plans in the local and
global economy, there is a persistent pressure to improve pension accounting. These changes have
gained momentum with the recent adoption of the International ... Show more content on
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In the DC plan, the final benefits are unknown, but there are fixed contributions whereas in the DC
plan, because there is promise of a numerical benefit, the contributions vary as a result of time value
of money. This fundamentally means that the risk for the final benefit payout in the DB plan is
borne by the employer whereas in the DC plan, the pensioner bears this risk (Beechy & Conrad,
2008). Contributions to a pension fund are an expense for the employer, hence to describe in simple
terms, on a per pay basis, an employer will credit the pension fund with amount of pension funds the
employee is entitled to. This amount is the present value of the future payment stream payable to the
employee upon retirement (Beechy & Conrad, 2008). The present value calculations of these
obligations require estimates of factors such as: investment earnings, future salary increases,
employee turnover, mortality rates, and life expectancy after retirement (Beechy & Conrad, 2008).
Actuarial models are used to generate the probabilities used to calculate the pension obligation
today, that will result in the promised payout in the future. While companies do not have to worry
about the funding status of DC plans, those that offer the DB plan bear the perpetual burden of
ensuring that the plans are funded. There are three basic actuarial methods that can be used by an
employer to fund the plan. The first method is the accumulated benefit

A New Generation Of Workers
A new generation of workers are in the midst of taking over the workforce: Generation Y, also
known as the Millennials. Baby boomers are ending their employment life cycle and transitioning
into retirement, leaving Millennials as the soon–to–be dominant generation in the workforce. By
2020, more than 46% of labour will be provided by these millennials. (Weber, 2016) As this
transition begins, a new trend within the workforce has also begun. Modern workers are no longer
spending their entire career with one employer. In fact, according to data from the Bureau of Labour
Statistics, the average worker today only stays at each of his or her jobs for 4.4 years. However, the
expected tenure of the workforce's youngest employees is about half of that. Ninety–one percent of
Millennials (born between 1977–1997) expect to stay in a job for less than three years, meaning
they would have 15 to 20 jobs over the course of their working lives. (Meister, 2012) With career
development and work–life balance on the forefront of the millennial mind, gone is the era of
employers using base salary in order to compete for the worker talent pool. They now have to
consider the total compensation package, which includes all forms of money, benefits, services, and
other "perks" eligible to the employee when competing with other firms, as modern employees have
begun to place just as strong of an importance on benefits as they do salary. The various benefit
packages offered by employers play a

Retirement In Canada

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