Old Age Security is a public assistance program for the benefit of Canadians who are 65 years or older. Receiving OAS benefits is dependent on the amount of time that an individual has spent in Canada as a resident. […]
A Retirement Compensation Arrangement (RCA) is a pension plan where a custodian holds funds contributed by an employer for the purpose of distributing it to the employee in retirement. A RCA pension plan is often […]
Minimum Mandatory Withdrawals When Withdrawing from a LIF When withdrawing from a LIF, keep in mind the minimum and maximum withdrawal percentage. The percentages vary from province to province. Funds withdrawn from a LIF will […]
Low income Canadians who qualify to receive Old Age Security are eligible to receive a monthly non taxable benefit known as Guaranteed Income Supplement (GIS). Eligibility For an individual to qualify for Guaranteed Income Supplement, […]
Defined benefit pension plan formula allows an employee to calculate how much their retirement benefit might be. Defined benefit plans are typically the preferred choice for unions and employees as they promise a guaranteed monthly […]
Plan sponsors specify a “normal” retirement age, the age where a plan member can retire with a full pension in retirement. This age is typical 65. However, for many plans, it is not 65. The […]
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