York student waits and prays for his Pakistan homeland

Toronto’s Pakistani community today is feeling helpless, frustrated and intensely fearful about the military crackdown in their native land, wrote The Toronto Sun Nov. 6. "We’re just trying to get a better grip on the situation and move forward from there," said Hasan Choksi, 21, president of York University’s Pakistani Student Association. "I’m just disappointed, more than anything, that it had to come to this. All I can do is pretty much pray. You do feel helpless because it is your country in the end and you’d love to see it prosper," said Choksi, who came to Canada as a child and has family in Pakistan.

Investment meets Milevsky’s criteria

Manulife has already improved its Income Plus investment product compared to its initial incarnation, wrote the National Post Nov. 6. By extending the guarantee for life, it fell into line with the "longevity insurance" requirements of Moshe Milevsky, finance professor in York’s Schulich School of Business. In a video for the Manulife road show, Milevsky said 1.3 million Canadians were more than 80 years old in 2006. They make up 4 per cent of the population, compared to 1 per cent half a century ago.

Milevsky said the new "finsurance" or guaranteed minimum-withdrawal benefit products provide one of three major ingredients in an ideal retirement-income portfolio: longevity insurance and an inflation hedge.