National Institute on Ageing

NEW REPORT! Did you know that nearly 200,000 members of Ontario-registered pension plans alone are "missing," leaving behind a staggering $3.6 billion in unclaimed pension funds? This issue isn’t just a local problem—it’s a global challenge that impacts financial security, administrative efficiency, and tax revenues. Our new report, Missing Pension Plan Members in Canada, dives deep into this pressing issue, exploring why pensions go unclaimed and what we can do about it. The consequences: • Canadians miss out on the retirement funds they’re owed. • Pension plan administrators face unnecessary complexity. • Governments lose out on tax revenue What can be done? Our report explores possible solutions that aim to: • Preserve members’ original entitlements • Effectively reunite workers with their pensions • Minimize the burden on plan administrators and government • Protect data privacy https://lnkd.in/epP25bmb #MissingPensions #FinancialSecurity #Retirement

🌍 On December 3, 2024, we join the world in commemorating the International Day of Persons with Disabilities. This year’s theme: “Amplifying the leadership of persons with disabilities for an inclusive and sustainable future.” Did you know that 16% of the global population lives with disabilities, yet they are often excluded from leadership roles in the health sector? Barriers like discrimination, stigma, and limited access to education and employment stand in their way. At the NIA, we believe that the voices of persons with disabilities—including older adults—need to be reflected in leadership in order to foster an inclusive society. Older adults with disabilities face unique challenges and must be part of the conversation to advance global health goals. https://lnkd.in/dZ4AH6YA

🌟 Today is #GivingTuesday! 🌟 Join us in building a Canada where older adults feel valued, included, supported, and prepared to age with confidence. At the National Institute on Ageing, we: ✅ Convene stakeholders to drive collective action ✅ Conduct research to improve ageing policies and practices ✅ Advance policy solutions and practice innovations concerning older adults ✅ Share information to empower older adults and decision-makers ✅ Shift attitudes and break down barriers to ageing well Your support helps us improve the lives of older adults and the systems that support them. Together, we can make a difference! 👉 Donate today: https://ow.ly/w7hr50UeSqy #GivingTuesdayCA

Thank you, Kevin Press, for a great article covering the latest paper in our 7-step series on help to inform better CPP/QPP claiming decisions. How can we help retirees not to make financial mistakes that their future — and likely more vulnerable — selves will pay the price for? https://lnkd.in/eFc2nUjn

Canadians face many psychological challenges in prioritizing their future needs and retirement plans. Learn more by reading the latest report in our 8-part paper series! https://lnkd.in/gu-Ngji9 #RetirementPlanning

How can we help retirees resist their natural inclinations toward money sooner over higher secure pension income later? In Steps 5 and 6 of the NIA’s paper series, by blending behavioural economics insights with financial mathematics, Bonnie-Jeanne MacDonald, PhD FSA FCIA introduces various financial metrics that make waiting for a bigger pension benefit tomorrow feel rewarding now. This includes the “SMarTS” strategy, where a pre-retiree would be told by their advisor how much more they can “Spend More Today Safely” by choosing to lock into higher lifetime income through delaying CPP/QPP benefits. More secure long-term income not only gives retirees the confidence to spend more, but it also gives them the financial case to do so and reduces their downside financial risk tomorrow, helping them achieve the retirement financial security they so badly want and will most likely need. Learn more about SMarTS by reading our latest report: https://lnkd.in/gu-Ngji9

📢 New Insights from the NIA: Strategies to Help Canadians Secure Greater Retirement Income When should you claim your CPP/QPP benefits? Timing this decision is critical to retirement security, yet many Canadians claim benefits earlier than necessary, leaving long-term income on the table. In Steps 5 & 6 of our paper series, Improving Long-term Financial Decision-making, we explore practical strategies to help retirees overcome the psychological factors that drive a wedge between what people say they want and need, and what they actually choose to do. These strategies include: 1. Strengthening the Connection to the Future Self, using tools like stories, testimonials and gamification techniques that help individuals visualize their future needs. By making these needs more tangible, Canadians are more likely to consider the long-term implications of their financial decisions today. 2. Framing Delayed Benefits as a Unique Financial Opportunity with Immediate Value, such as emphasizing the "Lifetime Loss" for those who choose earlier benefits and comparing deferral to affordable longevity insurance, to highlight the clear financial advantages of delaying CPP/QPP benefits. Learn more today: https://lnkd.in/gu-Ngji9

The NIA released 16 reports last year - all of which feature important research on the experiences and barriers facing older adults in Canada. This critical research can inform policy decisions, like the ones made on Parliament Hill. Our director of policy, Gabrielle Gallant, was in Ottawa this week to discuss our research with elected officials, including CPC Seniors’ Critic MP Anna Roberts , MP Yasir Naqvi 🇨🇦 and MP Michael Coteau. We appreciate the warm welcome we receive when in Ottawa!

Join us on Monday, December 2, from 2:30 to 4 p.m. for “Long-Term Care Transitions – Presented by Defy Dementia” an interactive virtual event hosted by Baycrest's Defy Dementia podcast team. In this webinar, Dr. Adriana Shnall, Program Director at Baycrest’s Koschitzky Centre for Innovations in Caregiving, will share essential insights to help you navigate the move to long-term care. The session will also include a live Q&A, allowing for questions and conversation. Hosted by Defy Dementia co-host Dr. Allison Sekuler, President and Chief Scientist at the Baycrest Academy for Research and Education, this empowers you with actionable steps to support this significant life change. This free event will be held virtually on Zoom, making it easy to attend from anywhere. This event is in partnership with the Ontario Centres for Learning, Research and Innovation in Long-Term Care. Funding for this event has been generously provided by The Slaight Family Foundation. 💻 For more details and to register, visit: https://lnkd.in/giW5UjKV

Did you know that caregivers give three hours of unpaid care for every hour provided by our healthcare system? One in four Canadians is a caregiver today – and 50% of Canadians will be a caregiver at some point in their lives. Caregiving is a critical issue facing older adults in Canada, and the NIA has been so pleased to support the Canadian Centre for Caregiving Excellence as they have advocated for a National Caregiving Strategy. Gabrielle Gallant, the NIA’s Director of Policy, was on Parliament Hill last night to celebrate the launch of the National Caregiving Caucus. Pictured here with the CCE’s Director of Policy and Advocacy, James Janeiro, Gabrielle heard caregiving stories from many of the attendees at the event. With the new Caregiving Caucus, there is a nonpartisan group of elected officials dedicated to moving policy that supports caregivers forward. Government exists to do big things together! Congratulations to the CCE on this meaningful accomplishment!