Canada's most trusted resource on retirement income, updated for tumultuous times. As the global economy faces uncertainty in the face of high inflation--at levels seen only twice before in this century--and the specter of recession looms, individuals in retirement or near to it are understandably anxious about living well long-term. Canadians need the tools to make better-informed choices to turn their retirement savings into retirement income for life. This revised and updated edition: Explains how higher interest rates and higher inflation present both new opportunities and challenges to retirees -- Illustrates how the expansion of the CPP (which started in 2019) will affect upcoming retirees -- Examines the impact of inflation on the deferral of CPP and OAS pensions -- Explores whether level-income annuities are still relevant and asks whether there are better products on the market -- Provides a revamped retirement calculator. Actuary Frederick Vettese demystifies a complex and often frightening subject and provides practical, actionable advice. With over one thousand Canadians turning 65 every day, the cultivation of good decumulation practices--the way in which you draw down assets in retirement--has become an urgent matter that no one can afford to ignore.
Identifying the decumulation problem -- A five-part solution -- Exploring other situations -- Tying up loose ends -- Making it happen -- Appendices. Summary of takeaways -- Summmary of LIFs and RRIFs -- Assumptions underlying PERC.
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