Pension crisis cure?

Canadian Business Editor Duncan Hood thinks the pension magic pill is out there.

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  • CIBC CEO Gerry McCaughey has a retirement solution Big Business will love, says Canadian Business Editor Duncan Hood. It involves employees topping up their own CPP.
  • BMO has lowered it’s benchmark five-year fixed rate mortgage to 2.99%. Finance Minister Jim Flaherty warned banks against “a race to the bottom” over concerns of a U.S. style housing crash despite analysts saying rates aren’t expected to take a turn any time soon.
  • Investor Warren Buffet is no longer among the top three richest people in the world. The so-called Oracle of Ohama fell to No. 4 in Forbes’ annual rankings which saw Carlos Slim atop the chart for the fourth year in a row.

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