Defined Benefit Pension Plan Vs. Defined Contribution Plan
A company pension plan can be a valuable source of retirement income. There are two types: defined benefit and defined contribution. Both provide income after retirement, but they are different in how...
View ArticleUnderstanding risk in 2 key retirement planning decisions
When it comes to investing, investors understand risk and return tend to be connected – the higher the risk, the higher the return, on average. Conversely, if you do not want any risk, you are...
View ArticleMoving forward with CPP expansion
Last month the finance ministers reached a historic agreement to expand CPP. This has been hotly debated for years with no action, but it was finally made official. With support from all the provinces...
View ArticleWhat do you think of pension reform in Canada?
Fifty percent of Canadians will be feeling the burn as they face big cuts to their standard of living at retirement and despite pension reform, there appears to be no relief in sight. Public pensions...
View ArticlePension plans are the foundation of retirement planning
According to Canada Customs Revenue Agency (CCRA), “A pension plan may generally be described as an arrangement between an employer and its employees, or between a union and its members, for providing...
View ArticlePension update: More about the Ontario Retirement Pension Plan
Despite a federal Liberal majority in the fall, the provincial Liberals are moving full steam ahead with the Ontario Retirement Pension Plan (ORPP). Ontario Finance Minister Charles Sousa said...
View ArticleUnderstanding and calculating the “Enhanced CPP” changes
Updated with 2019 rates 2019 is the first year where the changes announced in June 2016 will be put in place. The Minister of Finance announced an agreement in principle with the provinces that would...
View ArticleUnlocking LIRAs: How to get money out of your pension
If you left a company with a pension before retirement, chances are you had to move the money into a Locked in Retirement Account (LIRA). That’s because both the federal and provincial governments do...
View ArticleHow well do you know your pension plan?
Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. – Ayn Rand Recently, I read a great article by Rob Carrick in the Globe and Mail. It raised some...
View ArticleThe Retirement Income Guide for Canadian Non-Resident Expats
Retirement income planning for Canadian non-resident expatriates can be difficult. Let’s consider some of the implications of receiving CPP/QPP, OAS, RRSP and pension income in retirement. CPP/QPP and...
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Should You Take a Deferred Pension or the Commuted Value?
If you have a defined benefit pension plan at work consider yourself lucky. Less than one-third of employees in the private sector have a workplace pension plan. In you decide to stay with your...
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Moving forward with CPP expansion
Last month the finance ministers reached a historic agreement to expand CPP. This has been hotly debated for years with no action, but it was finally made official. With support from all the provinces...
View ArticleClik here to view.
What do you think of pension reform in Canada?
Fifty per cent of Canadians will be feeling the burn as they face big cuts to their standard of living at retirement and despite pension reform, there appears to be no relief in sight. Public pensions...
View ArticleClik here to view.
Pension Plans are the Foundation of Retirement Planning
According to Canada Customs Revenue Agency (CCRA), “A pension plan may generally be described as an arrangement between an employer and its employees, or between a union and its members, for providing...
View ArticleClik here to view.
Pension Update: More about the Ontario Retirement Pension Plan
Despite a federal Liberal majority in the fall, the provincial Liberals are moving full steam ahead with the Ontario Retirement Pension Plan (ORPP). Ontario Finance Minister Charles Sousa said...
View ArticleClik here to view.
No pension? Go out and buy one
Anyone who is retired or planning to retire in the next few years needs to be very careful with their investment decisions. Those with no pension may want to consider options to pensionize their...
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New Mortality Table for Defined Benefit Pension Plans
Employers with defined benefit pension plans take note. Starting October 1, 2015, there is a new mortality table for calculating the commuted values of defined benefit pension plans. The new mortality...
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Involuntary Terminations Can Be Costly for Employers in Ontario
If you’re an employer with a provincially-registered defined benefit pension plan with employees in Ontario, it’s important to know the rules surrounding involuntary terminations. Even if you outsource...
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Important Pension Plan Changes for Nova Scotia
Similar to last year’s pension changes in Alberta, Nova Scotia is undergoing pension reform of its own. These changes are designed to help modernize the province’s outdated pension legislation by...
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Are voluntary CPP Contributions a good idea?
Here we go again . . . Should the government allow voluntary CPP contributions? I was asked to share some of my personal thoughts on expanding CPP on the Calgary morning show on CBC Radio. Recently...
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