Category Archives: Pension

3 Important Pension Plan Changes for Alberta

There are big changes on the way for pension plans in the province of Alberta. Alberta is the latest province to modernize its pension legislation, following in the footsteps of Ontario. These pension plan changes have been on the works for quite some time. B.C. will soon come out with new rules of its own.

The Trend Towards Immediate Vesting on Pensions

On July 1, 2012, Ontario became the latest province to introduce immediate vesting. Ontario followed in the footsteps of provinces like Manitoba and Quebec in an effort to modernize its pension legislation. Alberta also went to immediate vesting as of September 1, 2014. As a plan sponsor offering a pension plan, it’s important to be

The differences between LIFs and RRIFs

Recently I wrote about the differences between a LIRA and a RRSP.  In this article I want to follow up and discuss the difference between LIFs and RRIFs. What is a RRIF? A Registered Retirement Income Fund (RRIF) is the most common income option for the RRSP.  If a RRSP is a tax sheltered bucket

Defined Contribution Pension Options at retirement

Last week, I look at pension options when you retire with a Defined Benefit Pension Plan.  When you retire from a Defined Contribution Pension Plan, your retirement options are very different than the options from a Defined Benefit Pension Plan.  The pension options you have will depend on a few different things but the biggest