| Nothing simple, little clear in RCMP scandal
It began with suspicions about mismanagement of funds, nepotism in hiring, questionable expense account entries, and contracts handed to consultants who did little work to earn their money. But the RCMP pension scandal now centres on even bigger questions whether senior officers turned a blind eye to wrongdoing, thwarted efforts to bring the perpetrators to justice and retaliated against lower-ranking whisteblowers. The latest chapter of the affair Monday, before the Commons public accounts committee, did nothing to answer those questions. It did give former commissioner Giuliano Zaccardelli an opportunity to defend his six-year term as the countrys top cop. But it also gave his main accusers Chief Supt. Fraser Macaulay and retired Sgt. Ron Lewis a chance to flatly contradict his sworn testimony.
Financial basics for children
They are called the trillion-dollar generation. Baby boomers are inheriting cash windfalls as aging parents pass on. Their kids are getting some of the money, too. I know. Both my children received a chunk of cash after their grandmother died before Christmas. My daughter, who's still in school, maxed out her Registered Education Savings Plan. The rest she socked into a Guaranteed Investment Certificate. "I don't want to spend a cent," she said. "I want the money to buy my first home." My son, who's in the workplace, opened a Registered Retirement Savings Plan, but the aspiring rock star also is buying guitars, computers and drums. My preference would be he use the money for a down payment on a condo. A Leger poll for financial services firm Edward Jones says a majority of parents in Canada worry they haven't taught their kids how to handle money.
Investors abroad look to boost retirement income press release
For many people, investing in an overseas property is a method of boosting income, whether operating as a buy-to-let landlord or with a view to pocketing a lump sum once the property has appreciated in value. For those that are approaching retirement, a property investment can prove even more attractive as a means of generating income for retirement. This is especially so in light of recent media reports of pension plan problems and a national debate on whether the social welfare system is going to be able to meet the needs of an increasingly ageing population. According to one property market consultant, recent years have seen a "massive explosion" in the levels of both interest and activity of UK buyers in the foreign property market. A spokesman for Frank Knight claims that there are now up to a million Britons that are active in the market.
Security Benefit Introduces Low-cost, Simplified Variable Annuity ...
TOPEKA, Kansas, March 27 /PRNewswire/ -- A new variable annuity product from Security Benefit has been designed for investors who are concerned about the cost and complexity of many annuities, yet wish to maximize their retirement financial assets. Available through independent financial representatives and advisors, the new product, EliteDesigns, combines a very low-cost variable annuity with powerful investment options and an optional living benefit. "We believe EliteDesigns is an innovative annuity that combines simplicity and affordability with an investment platform that can support professional advice and sophisticated investment strategies," said Doug Wolff, vice president, Business Development, Security Benefit. EliteDesigns features 73 underlying investment options, including a wide range of Rydex mutual funds.
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