The world continues to face many pressures including high inflation.
1. GDP Risks - https://www.icis.com/explore/resources/news/2021/11/02/10701324/labour-shortage-poses-long-term-threat-to-us-gdp-economist
2. Inflation - https://www.thestreet.com/investing/earnings-beat-during-economic-slowdown
3. Energy crisis - https://news.sky.com/story/four-more-energy-firms-collapse-taking-total-number-of-firms-failing-during-crisis-to-18-12458114
4. Energy crisis - https://www.bloomberg.com/news/articles/2021-09-27/europe-s-energy-crisis-is-about-to-go-global-as-gas-prices-soar?utm_medium=cpc_search&utm_campaign=NB_ACQ_DSAXX_DSATESTTCPAXX_EVG_XXXX_XXX_COALL_EN_EN_X_BLOM_GO_SE_XXX_XXXXXXXXXX&gclid=Cj0KCQjw5oiMBhDtARIsAJi0qk3WzP_DyOjk333Yhse63d0gXD2B3OGCDUuRAF30MROt_IoiwBR-LqgaAlYWEALw_wcB&gclsrc=aw.ds
5. Food https://atlantic.ctvnews.ca/dairy-prices-expected-to-jump-in-the-new-year-1.5649789
6. Food https://www.aginfo.net/report/51186/The-Agribusiness-Update/Ag-Tech-Theft-Rises-and-Food-Prices-Continue-Upward-Trend
7. Global poverty - https://www.therecord.com/opinion/letters-to-the-editors/2021/11/02/global-poverty-has-risen-what-will-new-minister-do.html
8. Food - https://fortune.com/2021/11/01/elon-musk-net-worth-tesla-shares-hunger-tweet-world-food-program/
9. Household debt - https://www.fitchratings.com/research/banks/pandemic-induced-stimulus-spurs-higher-household-leverage-in-apac-markets-02-11-2021
10. Household savings - https://www.mpamag.com/ca/news/general/rbc-on-canadian-households-record-pandemic-savings/315231
2. PAUL YOUNG - BIO
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
Contact information:
Paul_Young_CGA@Hotmail.com
3. AGENDA
• Global Pension Index
• RRSP / Contribution for 2021
• TFSA
• CPP
• OAS
• Private Pension Plans
• Stock Market
• Blog – Pensions
• Blog – Pensions
• Optional Workforce
• Global Inflation
• Summary
4. PAUL YOUNG - BIO
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos
5. GLOBAL PENSION INDEX
Source - https://www.mercer.com.au/our-thinking/global-pension-index.html#contactForm
2020 Report
2020 Report
2015 Report
7. TFSA (TAX FREE SAVINGS ACCOUNT)
Source -
https://www.investmentexecutive.com/news/indus
try-news/tfsa-assets-rise-19-year-over-year/
Source https://www.advisor.ca/news/industry-
news/tfsa-assets-rise-8-year-over-year/
Canadians held a total of $298.1 billion in their TFSAs in 2018, with the average TFSA holder having $20,292, according
to statistics released by the Canada Revenue Agency (CRA) on Wednesday.
The figures reflect the total fair market value (FMV) of all TFSAs at the end of the 2018 contribution year, the most
recent year for which the CRA has statistics.
Total assets held in TFSAs was up 7.7% from 2017, when the total FMV of all TFSAs was $276.7 billion. The average
FMV of assets held in TFSAs per individual TFSA holder was up 3.4% from the previous year, when it was $19,633.
The average unused TFSA contribution room in 2018 was $34,165, up 10.4% from 2017 when the average unused
room was $30,947.
TFSA holders under the age of 30 held $15.2 billion in TFSAs in 2018, up 2.5% from the previous year.
TFSAs are gaining in popularity among younger clients, says Graham Priest, an investment advisor with BlueShore
Financial in Vancouver.
“They like the flexibility of TFSAs for savings,” Priest said. “They don’t get taxed on withdrawals, and they don’t lose
contribution room [as with RRSPs].”
11. 11
PENSION RETURNS – 4Q20
Source - https://www150.statcan.gc.ca/n1/daily-quotidien/210216/dq210216b-eng.htm
Here is my brief look at pensions - https://www.slideshare.net/paulyoungcga/pensions-what-up-with-pension-returns-
242900583
12. STOCK MARKET
Blog – Stock Market – WE – October 29, 2021
Here is my look at the stock markets - https://www.slideshare.net/paulyoungcga/what-is-up-with-stock-marklet-october-29-2021
13. BLOG – PENSION CRISIS
The pension wealth of Canadians grew 10.4% in nominal terms in 2019, increasing to $4,250 billion by the end of
the year after slower growth in 2018 (+0.7%). This faster pace of growth was predominately due to gains in equity
markets, which impacted the market value of assets. By the end of 2019 the Toronto Stock Exchange (TSX) and
Standard & Poor's 500 (S&P 500) increased by 19.1% and 28.9%, respectively, a rebound from the end
of 2018 when markets sharply declined.
Source - https://www150.statcan.gc.ca/n1/daily-quotidien/201211/dq201211c-eng.htm
My work
https://www2.slideshare.net/paulyoungcga/pensions-what-up-with-pension-returns
“Pension funds continued to grow strongly in 2020, underpinned by ongoing multi-decade themes such as the rotation
from equities to alternatives and the growth of defined contribution (DC), now the dominant global pensions model,” said
Marisa Hall, co-head of the Thinking Ahead Institute.
“This paints a picture of a resilient industry in good health and relatively well placed to weather the effects – economic and
otherwise – of the ongoing pandemic. This is good news for billions of savers around the world.
“However, this shouldn’t mask the growing set of challenges that industry leaders face, particularly around addressing
broader stakeholder groups’ needs and wants, while continuing to deliver financial security for their fund members.”
https://www.theactuary.com/2021/02/17/global-pension-fund-assets-record-double-digit-growth
14. OPTIONAL WORKFORCE
/ RETIREMENT
Source - https://www.nextbigfuture.com/2021/03/a-world-with-most-in-a-work-optional-
state.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2Fadvancednano+%28next
bigfuture%29 or https://www.schroders.com/en/uk/private-investor/insights/markets/global-investment-trends-survey-
2015/ or https://www.newswire.ca/news-releases/global-survey-when-it-comes-to-saving-for-retirement-canadians-feel-
they-weathered-global-economic-downturn-better-than-any-other-nation-516475421.html
Many European countries have high rates of people
successfully reaching retirement or a work optional state.
The savings rate can be higher and the medical system
and elder care systems can be nationally structured where
there is never the risk of large financial payouts for any
medical procedure or for elder care costs where the
nursing costs are paid for by the elderly or their families.
Post-2009 Recession (2015 Report)
Although the research suggests that Canadians
weathered the economic downturn relatively well, it
also shows that on average, Canadians feel somewhat
less prepared for the realities of retirement than their
international peers. In fact, four in 10 Canadians are
not confident in their ability to maintain a comfortable
retirement – somewhat above the global average of
35%.
16. GLOBAL COST OF LIVING
Key Implications
In the latest highly anticipated decision, the Bank of Canada changed up the script. It pulled forward the timing of when it
expected the output gap to close to the middle quarters of next year as it judged that supply disruptions were weighing more
heavily on the economy's productive capacity. So, even as the GDP forecast was revised down in this MPR, the output gap closed
sooner than what the Bank had projected in July.
In terms of our own view, we expect the Bank will raise rates three times next year, taking the overnight rate to 1% by the end of
2022. Inflation is heating up, and it would be prudent to remove some monetary stimulus as the economy continues down the
road to recovery.
We must acknowledge that there is significant uncertainty around the economic outlook right now. A resurgence of the pandemic
could result in greater stimulus, but if there is a faster-than-expected acceleration in household spending, the Bank could raise
rates at a faster clip. The Bank of Canada is showing that it is nimble and will react quickly to the evolving economic
landscape.
https://economics.td.com/ca-boc-interest-rate-announcement
Additional Links:
https://www.slideshare.net/paulyoungcga/what-is-next-for-global-monetary-policies-october-2021
Global Inflation: https://www.wsj.com/articles/central-banks-fuel-new-bets-on-tighter-money-as-inflation-rises-globally-
11635759002
That is a change as Tiff Macklen said inflation was transitory a few weeks ago.
https://www.slideshare.net/paulyoungcga/what-is-next-for-global-monetary-policies-october-2021
17. SUMMARY
• Structural employment issues have led to many issues with job quality - https://www.slideshare.net/paulyoungcga/job-quality-
and-labor-market-analysis-canada-january-2021
• Ability of governments around the world to bring in proper balanced when it comes to economic and environmental policies -
https://www.slideshare.net/paulyoungcga/how-to-maximized-the-circular-economy-244067365
• Countries need to do a better job with risk mitigation due to geopolitical events -
https://www.slideshare.net/paulyoungcga/crisis-and-emergency-management-how-best-to-manage-risk
• More and more companies are adopting sustainable reporting as part of managing their carbon and waste footprint -
https://ibm.box.com/s/vmyitcackqevvm1hcxv7wke6gudrpnce
• Affordability due to cost of housing and taxes like carbon taxes - https://www.slideshare.net/paulyoungcga/cost-of-living-
canada-january-2021
• Pension plans will continue to face uncertainty in terms of their asset value - https://due.com/blog/pros-and-cons-of-pension-
plans-today/ or https://fee.org/articles/the-5-states-with-the-most-underfunded-public-employee-pensions/ or
https://taxfoundation.org/state-public-pension-plan-funding-coronavirus/ or
https://www.investmentexecutive.com/news/research-and-markets/pandemic-puts-pressure-on-global-pensions/