Canadian Seniors Feeling Growing Financial Strain
Canadian seniors are increasingly feeling financial pressure as the cost of living continues to rise, and many are finding that their retirement savings and fixed incomes are being stretched further than expected. Recent survey data shows that while helping family members has long been part of life for many older Canadians, it’s now having a […]
Easy financial tips for Canadian seniors
As many Canadians approach retirement age, it’s smart for seniors to review their financial situation — and to use smart strategies that help stretch their savings, reduce stress, and maintain flexibility. Below are some tips and approaches that tend to separate those who do well from those who struggle. ✅ What “Financially Ahead” Looks Like […]
Canadian seniors can apply for this benefit
The Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario, the Honourable Patty Hajdu, announced that persons with disabilities will be able to apply for the new Canada Disability Benefit (CDB) as of June 20, 2025. First payments will begin in July 2025 for applications received and approved by June 30, 2025. […]
Canadian seniors see jump in debt problems
A new national study from Money.ca reveals that Canada is facing a mounting debt and delinquency crisis, with average non-mortgage debt rising and delinquency rates spiking sharply across the country. The findings from Canada’s Rising Debt Crisis shed light on growing financial vulnerability among Canadians, fueled by inflationary pressures, high housing costs, and rising interest rates. The report, which examines data across […]
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 […]
