In Crisis? Average Retirement Age Grows for Some

Evelyn Jacks

A report updated on July 31 from Statistics Canada provides new data on who is retiring in Canada and when.  Is there in fact a retirement planning crisis in Canada?   Who is experiencing it?  You might be surprised at these new facts.  You may also want to weigh in on your observations on August 16 at noon when we present a national Meeting of the Minds with the Society of RWMs™.  Check out the stats and the pointed questions we will be asking our participants to weigh in on August.  Your opinion matters. Please join us.

Annual Retirement Age By Class Of Worker:

Statistics Canada. Table 14-10-0060-01  Retirement age by class of worker, annual

Do these stats reflect the client base you are serving today?  How are your retirement income clients managing in this inflationary environment? Have they been inclined to adjust their retirement income needs and/or make lifestyle changes?

Host and Chair of the Society of RWMs, Kristin Ramlal and our panel of experts will discuss:

• PROPOSED PENSION PLAN CHANGES: A C.D. Howe Institute study recently agued that we need a tax reform to provide Canadians more retirement savings room and allow OAS/CPP deferral after 70. Do you agree? Why, why not?
• PROPOSED RETIREMENT INCOME PLAN CHANGES Do you believe that the mandatory minimum RIF withdrawal rates continue to meet Canadians’ retirement income needs who are concerned about outliving their assets? Would delaying the mandatory RRSP conversion to a RIF help Canadians?
• INVESTMENT ASSET ALLOCATION FOR DECUMULATION: Do you agree that this new retirement reality calls for a new investment portfolio strategy? Any recommendations you would like to share?
• RETIREMENT PLANING FOR THOSE WITH GROUP FINANCIAL BENEFITS: How does retirement planning differ for your clients with group retirement plans (Group RRSP, Pension Plans, DPSP…)?
• REAL WEALTH MANAGEMENT FOR RETIREMENT PLANNING: How does RWM position you to be an irreplaceable resource for your clients for retirement planning?
• ROUND TABLE:THE REAL WEALTH MANAGEMENT TAKEAWAYS.You’ll be exposed important calculations using the RWM Discover Calculators
  • Tax efficient retirement income projector – 20 years out
  • CPP Calculator – early or late?
  • Donation Savings Calculator

Here’s how to register for this free educational event: https://learn.knowledgebureau.com/courses/dodging-the-retirement-crisis