Canadian seniors warned about GIC scam
Investors, including Canadian seniors, are advised to exercise caution when considering Guaranteed Investment Certificate (GIC) offers online. Fraudulent websites have been identified that aim to deceive individuals by impersonating legitimate financial institutions and their representatives. These scams often claim to offer high returns on GICs but do not provide legitimate investments or financial advice. Investors […]
Tariffs changing shopping habits of Canadians
Food Processing Skills Canada (FPSC) released the just published consumer research report, Impact of US Tariffs on Canadian Food Consumer Behaviour. This report is part of a series of consumer surveys gathering insights into Canadians’ grocery shopping habits, perceptions of available products, and response to increasing food prices and inflation. This final report in the series […]
Canadian seniors need more financial flexibilities
The Securities and Investment Management Association (SIMA) welcomes the recent public-policy discussion about retirement savings strategies that would provide seniors with more financial flexibility as they age. More Canadians are working into their later 60s and 70s, highlighting the need to modernize policies. At the same time, updating retirement savings rules is essential to help […]
Inflation has Canadians rethinking retirement
CIBC today revealed new poll findings that signal a significant shift in how Canadians approach retirement, as two-thirds of those surveyed (66%) say that recent economic changes, including rising inflation and an increased cost of living, have made them adjust their retirement plans. Of those polled, more than 70% anticipate working in their retirement, either […]
More Canadian seniors going hungry
Toronto City Council has declared food insecurity an emergency, drawing attention to a systemic crisis that impacts over 1 in 10 Torontonians, including many seniors. This declaration underscores the urgent need for collective action as the city faces the rising demand for food assistance. “Toronto declaring food insecurity an emergency should be a wake-up call for […]
OAS in Canada might not be enough
A report from Canada’s auditor general says the federal department that delivers Old Age Security (OAS) and other programs to assist seniors “did not have a comprehensive view” of the needs of Canada’s elderly and doesn’t know if the monthly payments are providing seniors with enough financial support. The report found Employment and Social Development Canada is collecting […]
Canadian seniors can save on their taxes
Whether you’re a homeowner, are saving for your first home, or just bought your first home, there are tax incentives you should know about. These incentives could help you reduce housing costs and maximize your savings. The Canada Revenue Agency (CRA) is here to make sure you have the information you need to take advantage […]
Canadian seniors tossing retirement playbook
This year, older Canadians will throw out the traditional retirement playbook and embrace new financial, technological and familial norms to live more independent and enriching lives. Insights like this from HomeEquity Bank and Ipsos reveal five key predictions for Canadians aged 55+ that will have ripple effects across Gen X, Millennials, Gen Z and even […]
Inflation Outlook for Canadian Seniors in 2025
As Canadian seniors look to 2025, inflation remains a significant concern. Rising prices for goods and services can stretch fixed incomes, making it challenging for retirees to maintain their standard of living. Understanding the potential impacts of inflation and planning for its effects are essential for seniors navigating the financial landscape. Current Trends in Inflation […]
How Canadian seniors get scammed at the bank
As online fraud and scams targeting older adults reach alarming levels, Techie Nesters, a trusted advocate for older adults, is calling on Canada’s banks to take more active steps to stop fraud before it’s too late. Despite free fraud support calls and educational sessions at community hubs like Collingwood’s Leisure Time Club, fraudsters continue to exploit seniors, often using tactics that lead them directly to […]
