Sept. 29: BEST FROM THE BLOGOSPHERE

September 29, 2025

There’s no question we are living in uncertain times – how will the trade war and its tariffs impact investing and Canada’s job markets?

We may not yet know exactly where things will land, but – according to a Money Canada piece by Nicholas Sokic – Canadians “are staying diligent in saving for retirement.”

In fact, he writes, citing a report from Sun Life, retirement savings contributions are, on average, at $9,500, “a six per cent increase from 2022.”

“The ‘buy Canadian’ sentiment that gained popularity earlier this year may also be having an impact on how people are investing their money. While some are adjusting their finances, it’s encouraging to see that they aren’t reactively pulling their money out of the market,” Sun Life’s Dave Jones, senior vice-president, group retirement services, states in the article.

“In the first quarter of 2025, members moved their money out of U.S. equity funds at the highest rate witnessed since the beginning of the COVID-19 pandemic. While more people are reducing their risk exposure, they are not withdrawing their money from their plans. Withdrawal rates remain stable when compared to past years,” the article continues.

Other findings outlined in the article:

• 70 per cent of plan members “who engaged with an advisor” were seen as being more likely to take action with their finances than those without such help.
• 42 per cent of plan member balances are in “target date funds,” a type of investment that becomes more conservative (and less exposed to equities) as the member ages.
• Workplace pension plan members are, on average, retiring “two years earlier than the average Canadian.”
• Average workplace pension plan balances in the Sun Life survey were at $94,220.

The idea that Canadians are saving more these days is also captured in an article on the Statistics Canada website.

“Recent analysis from Statistics Canada on the `third pillar’ of the retirement income system — in addition to government pension plans — hows that there has been an increasing share of families’ contributions to one or more of the three registered savings accounts: Registered Pension Plan (RPP), Registered Retirement Savings Plan (RRSP), and the tax-free savings account (TFSA),” the article begins.

In 2009, just over half of Canadian families contributed to one or more of these savings vehicles – a rate of 52.3 per cent,” the article continues. By 2022, that percentage had jumped to “nearly three in five families (58.1 per cent),” the article adds.

TFSAs increased in popularity in the 2009 to 2002 period, while contributions to RPPs and RRSPs “stayed flat, or declined over the same period,” the article notes.

These articles show, it would seem, that Canadians see that saving for retirement is important, even if the times are challenging.

If you have a retirement savings program through your workplace, be sure you are signed up and contributing – often there can be an employer match.

If you don’t have a workplace plan and aren’t sure how to go about investing for retirement on your own, the Saskatchewan Pension Plan may be just the ticket. With SPP, you decide how much you want to save, and SPP’s team does the rest. Your savings dollars will be invested in a low-cost, professionally managed pooled fund.

When it’s time to depart from the workforce, your options for turning your savings into income include getting a lifetime monthly annuity payment from SPP, or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Money Canada, Statistics Canada

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