We believe all workers deserve access to a high-quality retirement plan. We partner with unions, associations and other membership-based organizations to create and manage retirement plans for workers who don’t have them.
By age 65, you could save $0 with a Common Wealth retirement plan*See How
SEIU's my65+ will provide an innovative, low-cost option for hard-working families to build private savings for retirement. It has the potential to serve as a much-needed model to expand coverage for low- and moderate-income workers across Canada, as well as in the U.S., where nearly one-half of private sector workers lack access to a retirement plan at work.
More than 1 in 4 single seniors are living in poverty most of whom are women. This is unconscionable. That is why CARP is delighted to support the SEIU’s community retirement fund initiative. This program represents a significant step towards improving retirement security for thousands of care-workers, the majority of whom are women. I’m impressed by the careful plan design; low fees will preserve assets and the use of a TFSA structure means savers will not be penalized with claw-backs from guaranteed incomes. CARP strongly supports this initiative and would like to see similar projects developed to reduce senior poverty even further.
Mainstream RRSPs just don’t pass the logic test for people earning less than $50 thousand per year. They need a savings plan that won’t end up costing them money in their most vulnerable time of life. SEIU’s plan allows them to hold on to all the retirement income they’re entitled to, and that makes so much sense.
This plan is a concrete step forward that will help workers in precarious jobs save for their retirement. It has an innovative approach, using tax policy to benefit low-wage workers. It is tailored to increasing retirement security and incomes for low-wage workers who take care of vulnerable Ontarians.
I want to acknowledge Alex Mazer and Jonathan Weisstub of Common Wealth and Mahmood Nanji, Associate Deputy Minister at the Ontario Ministry of Finance, for developing the concept and bringing together a great group to contribute to the report. They have done an outstanding job showcasing the journey that funds have been on in the past 30 years.
Weaning the retirement industry off our obsession with regulatory categories The retirement industry has a problem. We are obsessed with regulatory categories. Welcome to the […]
The Brookings Institution, a leading American policy think tank, invited Common Wealth and Canada’s top public sector pension plans, Healthcare of Ontario Pension Plan (HOOPP) […]
Co-Founder Alex Mazer presented at the 2017 ACPM National Conference on September 13. Click here for his presentation, which was part of a plenary session on Changes and […]
We create portable, value-for-money, community-based retirement plans within sectors where many workers lack pension coverage. We design and manage these plans based on the principles of the world’s best pension organizations and tailor them to the needs of employees and freelancers in a 21st century workforce.