Parents financially supporting adult children feeling the pinch poll says

TORONTO — A new poll suggests adult children are draining their parents’ retirement nest eggs.The CIBC survey has found that two-thirds of Canadian parents polled say they’re feeling the financial impact of supporting their adult children.Almost half of them said supporting their adult kids is hampering their ability to save for themselves, while 20 per cent say it has actually delayed their retirement.Still supporting your adult children? Your kids are ruining your retirementWhy university shouldn’t be a free ride for your kids, even if it could beParents still paying your bills? You’re not aloneOne in four parents said they spend more than $500 a month to cover their adult kids’ rent, groceries and other bills.The top two expenses are groceries and other household expenses and cellphone bills.The survey of 1,054 randomly selected Canadian parents was conducted two weeks ago. It’s considered accurate within plus or minus three percentage points, 19 times out of 20. read more

Automotive Academy to debut at CV Show Skills Centre

The Automotive Academy is to make its debut in the Skills Centre at the heart of this year’s Commercial Vehicle Show and Automotive Trade Show at the NEC.The Skills Centre, open from Tuesday 25 to Thursday 27 April, will include a host of hands-on vehicle demonstrations, computer simulators and job advice. The Academy is joining other firms and training organisations in supporting this initiative to tackle skills shortages in the automotive manufacturing and engineering, road transport, logistics and aftermarket industries.The Academy will offer a range of advice and guidance on its validated and approved courses that are available to all levels of automotive manufacturing, from shop floor to boardroom and from SMEs to vehicle manufacturers. It will aim to demonstrate in a hands-on, interactive manner, the benefits in quality, cost and delivery performance that can be achieved from its range of lean manufacturing training programmes.Academy chief executive, Dr Alan Begg, said, ‘The Skills Centre at the CV show is a great opportunity to show visitors the whole range of career development available to them, whether they are looking for their first job in the industry, or wanting to develop their own skills. The UK automotive industry has more volume car, commercial vehicle and small and niche manufacturers than any other EU country – a strong message that needs to be more widely appreciated. There are still tremendous opportunities for employment and advancement in the UK. We can only maintain our strong position if we have the very best workers who are constantly improving their skills to globally competitive levels. That is what the Academy is focussed on achieving.’Skills Centre details can be found at: to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more