Shihab Edassery

Canada capped NSF fees at $10 for chequing and savings accounts, down from $45–$50.
Banks cannot charge multiple NSF fees within two business days for the same declined payment.
Consumers also got protection on tiny shortfalls. If an account was under by <$10, banks could not charge any NSF fee.
The federal change was projected to save Canadians $400M-$600M yearly, with 10-yr savings potentially topping $5.1B for household budgets.
Those expected to benefit most included low-income households, gig workers, freelancers, students, young adults, renters, and single parents facing uneven cash flow.

Canada Caps NSF Fees at $10

Canadians with $500K-$5M often sit between basic planning and elite wealth services, leaving retirement decisions more complex than many expect.
Longer lifespans raised longevity risk. At 3% inflation, prices nearly doubled in ~23 yr, cutting a $2M nest egg's purchasing power sharply.
Liquidity mattered too. Heavy real estate exposure could leave retirees cash-poor in emergencies, so the guidance favored ETFs, bonds, GICs, and cash reserves.
Taxes could worsen after work ends. RRSPs had to convert by age 71, triggering rising RRIF minimum withdrawals that could push income higher.
The clearest next step: build liquidity, budget health costs, model 25-30 retirement years, consider annuities, and seek fee-only planning for coordinated decisions.