Category Archives: Pension

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

A history of pensions in Canada

Down the road from me is the oldest remaining House of Industry in Canada.  Built in 1877, it was a refuge for the poor, homeless, and destitute.  It became the County Home for the Aged in 1947.  An ongoing collection of photographs on the wall illustrates just how many of the residents prior to 1947

A tutorial for understanding your pension plan

Public pension plans are the biggest source of retirement income for the average Canadians. That’s the CPP (Canada Pension Plan) and OAS (Old Age Security). Our second largest income source is employer pension plans. Employer Pension Plans Five million Canadians belong to an employer-sponsored pension plan. The problem is many of them have little idea