Category Archives: Pension

The Ontario Retirement Pension Plan: What is a Comparable Workplace Pension Plan?

With enrollment in the Ontario Retirement Pension Plan starting in 2017, the Ontario government recently made a major announcement. Despite criticism from the federal government, the provincial government is going ahead with the ORPP, although at a slower pace. The ORPP will be introduced in four stages starting in 2017. The Ontario government has also

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 These changes are designed to help modernize the province’s outdated pension legislation by introducing a number of improvements, including updating its benefit standards and improving plan administration. Coming into effect June 1, 2015, there are a new number

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 Finance Minister Joe Oliver floated the idea of giving Canadians the option to voluntarily contribute more to CPP to supplement

3 More Costly Pension Mistakes and How to Avoid Them

Last month we looked at three costly pension mistakes to avoid. Common pension mistakes include not returning your paperwork on time and quitting before you’re vested. This month we look at three more pension mistakes that can cost you dearly. Although it may not seem like a big deal, simple things like not updating your

3 Costly Pension Mistakes and How to Avoid Them

If you have  a pension plan at work consider yourself fortunate. Only about a third of Canadians have a workplace pension plan today – a far cry from a couple decades ago. Workers  face a number of retirement challenges today. The low interest rate environment coupled with longer life expectancy means we need to sock

Personal Pension Plans: A Pension Solution for Small Business Owners

The pension battle lines have been drawn. On one side are the pension “haves” – the shrinking one-third of workers with a workplace pension plan – and on the other side are the pension “have not’s” – the growing two-thirds without any workplace pension coverage. With an expanded CPP off the table, each province has