Snowbird Alert Source: www.newscanada.com Three important vaccines to get this winter For many Canadians, winter is their favourite season, with skiing, skating and a host of other activities to look forward to. Winter is also the heart of flu season. This year, in addition to the annual flu strains that are circulating, there are two other viruses to be wary of: RSV and COVID-19. Here’s what you need to know about each. Busting a myth about the Canada Pension Plan During times of economic uncertainty, many of us worry about our financial stability today and for the future – especially how we’ll be able to manage in retirement. Independent reviews conclude that the Canada Pension Plan, relied upon by more than 21 million contributors and beneficiaries, is in excellent shape for the generations to come. However, public opinion polls reveal that many people believe that the fund will run out of money before many Canadians are ready to retire. Where did this myth begin and why does it persist for some Canadians? The program started in 1966 but, as the number of people receiving benefits grew, the plan ran into difficulty. During the mid-1990s, it was estimated that the fund would no longer be sustainable by the mid-2010s. Many Canadians remember that dire forecast, but they don’t remember the dramatic action taken to correct the situation. Working together, the federal government and the provinces came up with a solution: raise contribution rates and create a new, independent organization known as CPP Investments. Its role is to invest excess funds not needed to pay current benefits to help grow the pension plan’s resources. A quarter-century later, the organization manages $575 billon in a diverse group of assets designed to achieve growth over the long term. It’s been rated as the best-performing pension fund in the world during the past decade according to Global SWF, an international consulting and research firm that tracks the returns of public pension funds. Every three years, an independent body in the federal government reviews the state of the pension plan. The most recent review, completed in December 2022, concluded that the pension plan will continue to be sustainable for 75 years and beyond. Find more information at cppinvestments.com. Seasonal flu The flu – short for influenza – is not one, but a variety of contagious viruses that circulate year-round. In Canada, flu season starts around October, right when we start spending more time indoors. Common symptoms include headaches, chills and a cough. A fever, muscle aches and general fatigue can also occur. But the flu is nothing to sneeze at. Every year, approximately 3,500 Canadians die from flu-related complications. Health officials around the world work together to determine the most threatening flu strains going around and develop a flu vaccine that targets the most prevalent strains. The strains and vaccine formulation change every year, which is why you should get your shot annually. RSV Respiratory syncytial virus – or RSV – is a common, highly contagious virus that affects the lungs and airways. RSV is increasingly recognized as a major health threat, particularly to young children, those who are immunocompromised and older adults. Although the virus can affect all ages, its impact on older adults is significant. The virus can cause severe respiratory issues, including pneumonia. This past August, Health Canada approved a new RSV vaccine in Canada for people 60 and older. COVID-19 As much as we’d all like it to just be a distant memory, COVID-19 variants are still circulating around the world. In fact, it’s expected that the COVID-19 virus will continue to mutate and will eventually become part of the strains that make up the seasonal flu. This year, Health Canada is recommending that everyone five years and older who has completed their initial series of COVID-19 vaccines get a booster shot. You can get your flu shot and COVID-19 booster at the same time at local pharmacies. 6 | www.snowbirds.org
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