0 Posts · 13 Articles
What's going on?

1 year ago

The Senator from Quebec

Royce Shook · The second Fake News story that is again making the rounds of email, Facebook, and Twitter, is the Senator from Quebec, and it is below in Italics. The problem is that this little article has been circulating on the Internet for about 10 years, here is what I found when I looked ...

2 years ago

Canada Pension Plan is it sustainable?

Royce Shook · In an article written in March 2021, called Public Pensions: Steady as they Go, the author Yan Barcelo asks the question: Are Canada's pension plans as sustainable as they seem? · A legitimate question and the first couple of paragraphs lead the reader to consider the idea that t ...

2 years ago

CPP and OAS enhancements coming

Royce Shook · One of the crucial aspects of pensions in Canada is the Canada Pension Plan (CPP). For 2020, the maximum monthly amount a new recipient could receive starting at age 65 is $1,175.83. However, the average monthly amount (for June 2020) is only $710.41, which means the average reti ...

3 years ago

Retirement a richly deserved break?

Royce Shook · Most of us in Canada dreamt about and looked ahead to retirement as a well-deserved rest after a lifetime of labour and we still do. For a long period, the dream was reality. In 1977, about 46% of all Canadians were covered by a registered pension plan (RPP). But time and practic ...

3 years ago

Will the age of retirement go up?

Royce Shook · In Finland in 2019, people in the country retired on an old-age pension at an average age of 61.5 years. In practice, that means a year-on-year increase of two months, said the Finnish Centre for Pensions in a press release. · The average effective retirement age has risen by 2. ...

4 years ago

What is your magic number?

Royce Shook · In Canada, retirees have an important foundation through the Canada Pension Plan (CPP) and Old Age Security (OAS) on which to start their retirement savings programs. · Still, CPP and OAS won’t pay for everything and it would be a mistake to assume that Canada’s national pension ...

4 years ago

Myths about the Canada Pension Plan (CPP)

Royce Shook · The Canada Pension Plan has a website that debunks the myths many of us have about the plan. To read more go to the link and check the sources. Back in the late 1990s, there were serious concerns about how long the CPP would be able to continue paying benefits. Indeed, the Office ...

4 years ago

Canada Pension Plan premiums are going up: is it a tax or an investment?

Royce Shook · Two sides to the same coin. If you view the CPP as an investment in your retirement funds, you see the logic of the following argument: · The last time CPP contributions were increased was 1997. During the entire seven years, the increase was phased in, employment rose and the ec ...

4 years ago

Retirement Planning 2019

Royce Shook · My friends and I were talking about how fortunate we were to have a defined benefit pension. My friends were talking about how much money a person who did not have a pension would have to save. As we discussed the topic, I realized that the calculations they were using were not a ...

4 years ago

Are you ready to retire? (Part 2)

Royce Shook · As you prepare your plan, think about what you will be doing through all three stages of retirement, not just the first stage. Imagining your retirement lifestyle also increases your desire to retire, while preparing you mentally for the changes retiring will mean to you. Develop ...

5 years ago

Get the facts straight.

Royce Shook · The following is an interesting response from a Canadian perspective on a letter that originated in the US in 2011 and is still making the rounds on the Internet with different names and situations. I like the response, the problem is that there is no Canadian or American Senator ...

5 years ago

Working longer could increase pension payouts.

Royce Shook · Japan recently took an interesting step when dealing with its ageing population. The · Japanese government policy on the elderly released Wednesday, January 17, said people should be allowed to delay the age they start receiving public pensions, to over 70, with the government ho ...

5 years ago

Liveable Wage in retirement

Royce Shook · Richard Thaler, who won the Nobel Prize suggests that employers should use the opt-out option rather than the current opt-in option to help employees invest for retirement. This is a good idea and one that the Canadian government follows with its pension plan, the Canadian Pensio ...

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