"I think part of the issue may be a communication issue," says Dr. Sinha, NIA Director of Health Policy Research. "We've been using the term 'that you need two doses to be fully vaccinated' and I think people may not be aware of the significant added benefit of actually why that third dose is so important and how it can really help people get the protection they need for all of us to try to get through this winter more safely."
Read MoreApplying for your pension early can be very expensive
“Deferral of QPP and CPP payments is the most underused and poorly understood disbursement solution in the country,” says Bonnie-Jeanne MacDonald, Director of Financial Security Research at the University's National Institute on Ageing.
Read MoreReducing mortality risk
“The No. 1 issue [that affects mortality risk] is the presence of chronic illnesses,” Sinha said. “But, if you do survive those and manage to live healthy and not develop things [such as] diabetes or cardiovascular disease, and you luckily don’t get accosted by cancer along the way, then there are other illnesses that are likely to catch up with you over time, such as dementia,” says Dr. Samir Sinha, NIA Director of Health Policy Research.
Read MoreThe best dividend stocks for a retirement portfolio
A recent survey conducted by Ipsos for Ryerson University’s National Institute on Ageing and HomeEquity Bank revealed that many Canadians are nervous about their retirement prospects. That survey saw 75% of respondents nearing or in early retirement say that the COVID-19 pandemic had them more concerned about their family’s financial security and well-being. A previous survey conducted by Ipsos revealed that nearly a quarter of respondents were delaying retirement due to the pandemic. Today, I want to look at the best dividend stocks to hold in a retirement portfolio right now.
Read MoreUnvaxxed loved ones? How to handle tense family gatherings over the holidays
The holiday season is just a month away, and unlike last year when gatherings meant video calls and quiet celebrations with household members, this year promises to be a little less muted. The National Institute on Ageing has a COVID-19 Visit Risk calculator online that can help people assess how safe a visit or gathering will be.
Read MoreWith fewer outbreaks, some Saskatoon care homes loosening visitor restrictions
According to the National Institute on Ageing at Ryerson University in Toronto, which has been tracking the virus in care homes across the country, there have been 694 cases and 123 deaths in about 164 long-term care homes in the province since the beginning of the pandemic.
Read MoreWorried about running out of money in retirement? A new type of pension plan may soon solve that problem
Dr. Bonnie-Jeanne MacDonald, NIA Director of Financial Security Research, hopes government will move quickly on the necessary regulatory changes and that Canada’s first stand-alone DP pools will be introduced in a year or so.
“It’s a way to democratize pensions,” she said. “To make a lifetime income available to any Canadian who wants to have one.”
Dynamic Pension pools urgently needed to support Canadians' retirement income security
A new report published by the NIA and the Global Risk Institute (GRI), Affordable Lifetime Pension Income for a Better Tomorrow: How We Can Address the $1.5-trillion Decumulation Disconnect in the Canadian Retirement Income System with Dynamic Pension Pools, explains why Dynamic Pension (DP) pools are urgently needed
to make retirement income security possible for millions of Canadian seniors.
With 10 million baby boomers now entering retirement—with longer life expectancies and a greater dependency on private savings to sustain them—it’s more important than ever to find solutions that will help retiring Canadians turn their accumulated savings into low-cost lifetime pension income.
Dynamic pension pools a viable decumulation option for Canadians: report
“Retiring Canadians are more worried than ever that their savings won’t sustain them in retirement — and these fears are legitimate,” said Bonnie-Jeanne MacDonald, Director of Financial Security research at the National Institute on Ageing and the report’s lead author. “Financial markets, inflation and health expenses are just some of the big unknowns that retirees will need to face over 10, 20, 30 or even 40 years.”
Read MoreDP pools should be available to more retiring Canadians, report says
Millions of baby boomers entering retirement and facing a “$1.5-trillion decumulation disconnect” need better options for reliable income as they age, a new report says.
The report from Ryerson University’s National Institute on Ageing and the Global Risk Institute, released Tuesday, said the decline in traditional workplace defined benefit pension plans has left today’s retirees depending much more on personal savings and sub-par retirement saving vehicles.
Can Dynamic Pension Pools strengthen Canadians’ Retirement Income Security?
While DP pools are recognized as a powerful decumulation solution in many other ageing countries around the world they aren’t yet broadly available in Canada.
“Turning lifetime savings into lifetime income is more than just a challenge: it’s an impossible task that threatens the financial and emotional security of a growing portion of the Canadian population,” says Dr. Bonnie-Jeanne MacDonald, NIA Director of Financial Security Research. “DP pools are a proven and viable solution with the potential to improve retirement financial security for millions of retiring Canadians.”
Amid soaring prices, retired Canadians are staying in their homes: ‘This is a wake-up call for all of us’
Ninety-six per cent of Ontario seniors over age 55 currently plan to remain in their own homes for as long as possible. The reasons are clear. Many have watched with panic as long-term care residents bore the brunt of the pandemic, with thousands dying and many forced to isolate for months. “The pandemic has created an opportunity to rethink a number of different approaches to aging,” says Dr. Samir Sinha, Director of Health Policy Research at the National Institute on Ageing. “They’re thinking: ‘I don’t want to be one of those statistics on the news.’”
Read MoreCare as we age: Transforming long-term care
In this episode, Dr. Samir Sinha talks about long-term care and how we can better support individuals as they age. Cracks in the long-term care system in Canada were visible long before the pandemic. COVID just further amplified the failures in a system meant to support and care for the most vulnerable. The question is: Will this finally be the impetus need for real change to happen? And if so, what will it look like and how do we get there?
Read MorePeter Chow: No Monoclonal Antibodies in Sault Ontario – But We Have Fluvoxamine
“When we’re hearing about some individuals who are dying who happen to have been fully vaccinated, it starts creating doubt in the minds of others about whether the vaccine is even worth it at all,” said Dr. Samir Sinha, NIA Director of Health Policy Research at the NIA.
Read MoreAgeism is discrimination too: 3 important takeaways from Generous Futures — Addressing Ageism
The season 2 premiere Addressing Ageism highlights how charitable giving is carving new pathways for seniors. The panel, moderated by Michael Nicin, Executive Director, National Institute on Ageing features experts in the field, Dr. Samir Sinha, Mitch Frazer, Chameli Naraine, and Delores Lawrence.
Read MoreAchieving scale in pensions through portfolio aggregation
We find that there is a correlation between portfolio size and investment performance. We argue that benefits likely begin to accrue above a certain minimum size. Moreover, Keith Ambachtsheer, Senior Fellow, NIA, and his coauthors find that larger pension plans capture more of their total returns by way of lower total expense ratios than those of smaller plans.
Read MoreIn the race to a net-zero and inclusive future, Canadian pension funds have a critical role to play - and a new report shows how
“As stewards of our retirement savings, pension funds have important roles to play in securing the future living standards of Canadians in a just and livable world.” said Keith Ambachtsheer, Senior Fellow, National Institute on Ageing. “To that end, we should all welcome the Canadian Pensions Dashboard for Responsible Investing, which will provide important ongoing information on how effectively Canada’s pension funds are fulfilling their mission.”
Read MoreCETFA urges more advisors to help clients prepare for vulnerable aging
CETFA has increasingly raised the financial implications of vulnerable aging this year. This past summer, it held a webinar with Michael Nicin, the Executive Director of Ryerson’s National Institute of Ageing, to flag some of the costs and concerns of financially planning for vulnerable aging.
Read MoreSeniors brace for guaranteed income supplement cuts
"For seniors in Canada who are low income and not receiving any other forms of income, the government gives them about $950 a month (the Guaranteed Income Supplement - GIS). But for every dollar someone earns, that amount is reduced by 50 cents. In the pandemic, 90,000 seniors were working enough to quality for CERB so they would receive $2,000 a month," says Dr. Bonnie-Jeanne MacDonald, NIA Director of Financial Security Research. Dr. MacDonald further explains that due to this, these low income seniors are not able to collect their GIS.
Read MoreImproving the globe's retirement income systems: How are we doing... and how can we do better?
The 13th edition of the Mercer CFA Institute Global Pension Index (MCGPI) has just been released. Titled “Pension Reform in Challenging Times”, the report notes that while there are a few well-designed and managed national retirement income systems (RIS) in the world, many could and should do better, including in Canada. Read NIA Senior Fellow Keith Ambachtsheer's full article.
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