Category Archives: Pension

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

Retiring with Pension Money and the Unlocking rules

Over the past few months I have helped a few clients with their LIRAs and the ability to generate income from those accounts. I thought it might be a good refresher to familiarize ourselves with the rules regarding pension money. Although rules can differ from province to province, I will focus on Alberta rules Leaving

Using that nice little pension tax credit

Canadians have some important traditions…hockey, shovelling snow and politeness (Except when we get behind the wheel of a car. We’re not always polite when we’re driving). There’s also the common goal of tax avoidance. Don’t confuse tax avoidance with tax evasion. Evasion is illegal; don’t do that. Tax avoidance is the reduction of the taxes

Who Is Affected by the Ontario Retirement Pension Plan?

With the Ontario Retirement Pension Plan taking shape, the provincial government is giving Ontarians the chance to weigh in on the proposed provincial pension plan. The Ontario Liberals released a consultation paper on “key design questions” of the ORPP, such as low-income earners and the self-employed. The discussion paper provides more details on the ORPP,