Oct 1: Best from the blogosphere
October 1, 2018
A look at the best of the Internet, from an SPP point of view
Canada rises to ninth place in world retirement rankings
Pat yourself on the back, Canada – we’re the ninth-best country in the world to retire in.
Canada has moved up from 11th place to 9th place in the Natixis Investment Managers’ Global Retirement Index, reports MoneySense. Canada moved up a couple of places, the magazine reports, because of “improving economic conditions and environmental factors.”
The index takes into account 18 factors, such as “Finances in Retirement, Material Wellbeing, Quality of Life, and Health,” reports MoneySense. Canada has the “second-highest air quality and seventh-highest personal happiness scores in the entire index,” the article notes. A stronger job market last year pushed our unemployment rate lower, the article adds.
The top five countries were Switzerland, Iceland, Norway, Sweden and New Zealand. The next five were Australia, Ireland, Denmark, Canada, and the Netherlands.
Save with SPP notes that most of the Top 10 countries were hockey-playing country. Coincidence?
The USA, while good at hockey, came in at 16th overall, the magazine notes.
“Precarious” workers have less access to retirement savings: report
A report by the Canadian Centre for Policy Alternatives has found that only 40 per cent of workers in “precarious” jobs have access to retirement savings plans at work. That compares unfavourably, notes an article in Benefits Canada, to the 85 per cent of “secure professionals” who do have access to such plans at work.
The secure professional group, the article says, “was classified as having a full-time, permanent job for at least 30 hours per week, working for one employer that provides benefits and that they expect to be working for in one year’s time.” The “precarious” group, the article states, are either full time without these factors or working part time or contract.
The takeaway is that the so-called “gig” economy often leaves workers without workplace pension plans or retirement savings benefits. They must shoulder their own retirement savings program – easier said than done.
A nice “do-it-yourself” retirement program is the Saskatchewan Pension Plan. You decide how much you’ll contribute, and you can vary your contributions as you see fit over your working life. Check them out at www.saskpension.com.
|Written by Martin Biefer
|Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. After a 35-year career as a reporter, editor and pension communicator, Martin is enjoying life as a freelance writer. He’s a mediocre golfer, hopeful darts player and beginner line dancer who enjoys classic rock and sports, especially football. He and his wife Laura live with their Sheltie, Duncan, and their cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22|
Benefits Canada, Canadian Centre for Policy Alternatives, MoneySense, Natixis Investment Managers’ Global Retirement Index