Hudson's Bay Co. figure Dick Murray quietly passes away
J Richards Dick Murray, pivotal in moving HBC head office from London to Winnipeg on May 2 1970, dies at 80 in Boothbay Harbour Maine. Born Winnipeg, he rose to MD Canada in 1959 and led the 1973 transfer of governance to Canada, securing the first Canadian Governor for the company.
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Dick) Murray
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The Seniors Benefit proposal in Canada faces criticism
The Turner Report cites Ottawa plans to tax middle class retirees and claw back the benefit, replacing GIS and OAS. Analysts warn retirees could lose substantial savings as combined family income triggers higher taxes and a 20 cent clawback per dollar over 26 000, potentially eroding up to half of savings.
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Kevin Moriarty
Wm. Mercer Ltd
Retirement tax traps hit future seniors as savings risk loss
Canada faces a looming retirement squeeze as proposed tax clawbacks threaten RRSPs and seniors benefits. Experts warn savings under 250000 dollars could be drained by taxes, pushing reliance on government payments while investors cash out early. Boomers retire en masse after 2011, stressing a system already strained.
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