Pension Security

Canada'’s social security system has evolved gradually in response to a variety of social, economic and political factors. From modest beginnings in the early decades of this century, a system has developed which consists of universal benefits, social insurance plans, social assistance programs, and a wide array of health and social services. The document presents an overview of income security programs. More precisely, it looks at the Old age security program; Canada pension plan; reciprocal social security agreements; and, protection of client information.

"The Annotated Canada Pension Plan and Old Age Security Act is the first in-depth treatment of these two important statutes, as they have been interpreted by the case law. The authors review the legislation, regulations and decisions of the courts, the Pension Appeals Board and the Review Tribunal, providing exclusive insights into the law and the different ways in which it can be applied. The 2009 edition updates the legislation and digests of decisions issued by the Supreme Court of Canada, Federal Court, Pension Appeals Board and the Review Tribunal over the last year. All pending legislation will be incorporated into the Acts."--pub. desc.

As defined contribution pensions become prevalent, retirees are increasingly responsible for managing their own pension assets and thus their own financial literacy becomes crucial. Based on empirical evidence and new research, the book examines how financial literacy enhances retirement decision-making in ever more complex financial markets.

The media says you should be worried about your pension, the banks and financial advisors say Canadians aren't saving enough for their retirement, and Ottawa says drastic cuts to the Canada Pension Plan and Old Age Security lie ahead. Is the future sounding a little ominous? In the face of all this negativity, just what are you supposed to do? Pension experts Robert Drummond and Chris Roberts have nothing to sell, and they aren't trying to undermine government programs. This means they can provide unbiased and reliable advice, which is what they do in this no-holds-barred book.

This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing marketexperiences.Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.

Focusing on how Europe and the USA are dealing with the demographic, financial and political pressures on pension security, this book seeks to explore the links between two spheres often considered separately; i.e. old age security and global finance.