I had read the article, and it doesn't make any sense, other than to curry favour with a particular segment of the electorate. Retirees and near-retirees have not "lost tax-sheltering room" as a result of the market fall. They have lost asset value in their retirement funds, but this should only be temporary. The only way they "lose room" is by making withdrawals. In the case of RRSPs this is not news, and is why most people should not withdraw RRRSP money early. In the case of RRRIF & DC plans, it is true they are having to draw down their tax-sheltered assets faster than they would like as part of their retirement income stream. But if they are withdrawing a large percentage their retirement assets in one year, there is something wrong with their retirement plan that is unrelated to the market situation. And they are acquiring $5K/yr in TFSA room to put away any retiement income that is excess to their needs.
(65-18) x $5K = $235,000. I have difficulty finding sympathy for a "poor retiree" who has that much spare cash to hide from the tax man, to "compensate" him for the fact that his registered portfolio dropped in value this past year, like everyone else's.
I think the author is simply lobbying for a change in government policy that will help investment advisors attract more business.
(65-18) x $5K = $235,000. I have difficulty finding sympathy for a "poor retiree" who has that much spare cash to hide from the tax man, to "compensate" him for the fact that his registered portfolio dropped in value this past year, like everyone else's.
I think the author is simply lobbying for a change in government policy that will help investment advisors attract more business.