Interestingly and unexpectedly, the Tories seem to be suggesting at expanding the CPP program to allow for a voluntary additional payment that will mean receiving higher payments in retirement.
The timing of the election cannot be ignored. We applaud this proposal as it’s clear that Canadians are, unfortunately, doing a poor job of saving for retirement.
There has been a lot of talk lately about the Canadian energy sector and how Canada is poised to be a leader in energy production, if managed well.
In regards to investing in the energy sector, George Soros, an investor with a praised track record, has recently placed his bet on our energy sector.
Financial post has an excellent article on the subject that we recommend checking out: George Soros is betting on the Canadian energy sector. Should you too?
See ATB Financial’s page about this offer. It appears to run until September of 2015.
Accounts have a monthly fee with the smallest being $3.95 with the exception of a no-fee student account. Expected criteria appies: moving over direct deposits or pre-authorized payments and having to wait several months before collecting your reward.
See this article from the Globe and Mail Canada: Cellphone carriers lose court challenge over CRTC wireless code
If you have signed a 3 year cell phone contract in recent times, or not so recent times, as of June 3, 2015 you will be able to cancel it without penalty, regardless of how much subsidy is left and regardless of when it was signed. You can walk away from your contract and not pay subsidy or cancellation fees (of course fees remaining for cell phone services rendered still apply).
This offer expires on July 17, 2015. See CIBC’s main page for this offer along with their terms and conditions.
Some of the terms include the account remaining open for a year as well as standard things like having to make direct deposits, bill payments, and so forth.
The Financial Consumer Agency of Canada has a section titled Cheque hold periods and access to funds: Your rights and responsibilities. It is worth a read if you’re encountering any problems or unusual delays in regards to cheques being held.
Bank of Montreal’s increases went into effect May 1, 2015 and they are not as high as others. Toronto-Dominion Bank’s increases were in April.
Royal Bank of Canada is increasing a variety of fees and transaction costs, effective June 1, 2015 as well increasing the age of senior eligibility for account fees.
CIBC and Scotiabank are expected to follow suit.
This will effect a large number of consumers and is not a trend we like to see. We will keep you updated on bank fees and on the release of our forth-coming bank selection tool.