- 100-year-old marathoner finishes race
- Rocky markets take bite out of pension assets
- Retirement delayed as Canadians work longer
AP – 13 hrs ago.
TORONTO (AP) — A 100-year-old runner became the oldest person to complete a full-distance marathon when he finished the race in Toronto on Sunday.
Fauja Singh earned a spot in the Guinness World Records for his accomplishment.
It took Singh more than eight hours to cross the finish line — more than six hours after Kenya's Kenneth Mungara won the event for the fourth straight year — and he was the last competitor to complete the course.
But his time wasn't nearly as remarkable as the accomplishment.
Event workers dismantled the barricades along the finish line and took down sponsor banners even as Singh made his way up the final few hundred yards of the race.
Family, friends and supporters greeted Singh when he finished the race.
"Beating his original prediction, he's overjoyed," his coach and translator Harmander Singh said. "Earlier, just before we came around the (final) corner, he said, 'Achieving this will be like getting married again.'
"He's absolutely overjoyed, he's achieved his lifelong wish."
Sunday's run was Singh's eighth marathon — he ran his first at age 89 — and wasn't the first time he set a record.
In the 2003 Toronto event, he set the mark in the 90-plus category, finishing the race in 5 hours, 40 minutes and 1 second.
And on Thursday in Toronto, Singh broke world records for runners older than 100 in eight different distances ranging from 100 meters to 5,000 meters.
The 5-foot-8 Singh said he's hopeful his next project will be participating in the torch relay for the 2012 London Games. He carried the torch during the relay for the 2004 Athens Games.
The Canadian Press. Posted: Oct 21, 2011 8:59 AM ET
Canadian pension plans took a severe hit from turbulent world equity markets during the third quarter, a new study by RBC Dexia has found.
The organization says the Canadian pension plan assets that it tracks dropped 5.5 per cent in the three-month period ended Sept. 30.
So far this year the pensions have lost 3.2 per cent of their value, RBC Dexia said.
The company is equally owned by Royal Bank of Canada and Dexia, a Belgian bank that's in financial trouble. RBC has said it's in talks to acquire full ownership of the joint venture.
The RBC Dexia report on pensions said numerous factors affected momentum during the third quarter, including persistent uncertainty about the sovereign debt crisis in Europe, the downgrade of the U.S. from a AAA rating by S&P, and concerns that the situation could worsen.
The hardest hit asset type within Canadian pension portfolios were Canadian equities.
CBC News, Oct 26, 2011
Canadians are working later in life than they used to and delaying their retirement, Statistics Canada says.
The data agency issued a report Wednesday that shows Canadians are working longer, a trend that's been increasing since the mid-1990s.
A typical 50-year-old worker in 2008 could expect to work for 16 more years. Fifteen years earlier, the numbers suggest that worker would likely only have 12½ years left before retirement — a difference of 3½ years.
Statistics Canada took data from its labour force survey (from which the official unemployment rate is derived) and calculated the number of years a typical person in any given year could expect to work. The method used is similar to the one the data agency uses to estimate life expectancy.
Up until the mid-1990s, the trend was toward earlier retirement. But at that time, high public-sector deficits and downsizing among private-sector organizations drove more people to retire earlier.
There's been a pronounced trend toward working longer ever since. In 1996, barely more than one-fifth of people over the age of 55 in Canada were still working. But that figure had jumped to more than one-third by 2010.
Retirement length steady
Retirement may be arriving later, but Statistics Canada data suggests it is still lasting just as long, because of a corresponding increase in life expectancy.
The expected length of one's retirement increased steadily between 1977 and the mid-1990s. But it has remained steady since then, even as retirements start later.
Between 1977 and 1994, the expected time men would spend in retirement increased sharply from 11.2 years to 15.4 years. In 2008, it was 15 years.
The trend for women was similar. Between 1977 and 1996, the estimated years of retirement for women rose from 16.4 to 20.6. In 2008, women would spend 19 years in retirement.
As it stands now, 50-year-old men can expect to spend 48 per cent of their remaining years of life in retirement, compared with 45 per cent in 1977. In 2008, 50-year-old women could expect to spend 55 per cent of their remaining years of life in retirement, nearly identical to the proportion in 1977.