August 2025 Poll

With possibly what goes on under the surface of the water with GIC’s issuers (TD Bank as 1 example) $150,000 is greatly better than $100K. I also agree with Bob Nelson in that $150K misses the mark totally (We do have bail-in going on now and not bail out) . Perhaps indexing the coverage to match inflation every year would help a little until the amount that it should be when based on common sense enters the conversation and is amended.

By Stella Pearson on August 13, 2025

I say no to the $150,000 coverage level quite simply because the $50,000 coverage increase is frankly inadequate.  In 1967 CDIC offered $20,000 in coverage.  In 1983, 16 years later, that coverage was tripled to $60,000.  In 2005, 22 years later, it was increased to $100,000.  20 years later we are still at the same coverage level as in 2005.  Given the high levels of inflation in recent years and the propensity of many boomers to invest in relatively low risk GICs, I recommend that the coverage goes to $250,000.  There was a time in our lives when this was a staggering figure.  Sadly, today it is not!!  In fact in most urban areas of BC, that amount could not even buy a person a condo.  CDIC coverage is there to protect the consumer.  Consumers assets have risen.  It is time for CDIC to catch up and do a better job of protecting consumers!

By Rob Nelson on August 07, 2025