The Québec Pension Plan (QPP) is a retirement program run by the province of Québec that is very similar to the Canada Pension Plan (CPP). Quebec chose to opt out of the Canada Pension Plan and instead administer their own public insurance plan. Workers in Québec that are over the age of 18, with income…
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Category Archives: Retirement
Proposed Changes To The Canada Pension Plan (CPP)
Back in May, The Department of Finance announced some proposed changes to the Canada Pension Plan that are expected to begin in 2011. If approved by the federal and provincial governments, these changes will relax some of the current restrictions in the program and increase the incentive to wait to begin receiving CPP benefit payments….
What Is The Old Age Security (OAS) Pension?
As with the Canada Pension Plan (CPP), the Old Age Security (OAS) pension is an important part of Canada’s retirement income system. Old Age Security payments are available to any Canadian citizen or legal resident of Canada that is over the age of 65 and has lived in Canada for at least 10 years after…
What Is The Canada Pension Plan (CPP)?
The Canada Pension Plan (CPP) is part of Canada’s retirement income system. Anyone that is is 18 or older and employed must contribute to the CPP. The contribution calculation is based on the employee’s income. This plan applies to all provinces and territories except Quebec, which operates it’s own similar plan, the Quebec Pension Plan…
How Much Do You Need To Retire? The Rule Of 20
While the 4% rule has become a standard quick calculation for retirement planning, there is a new rule that is similar, The Rule of 20. Last week BNN’s Money Talk had Irshaad Ahmad, President & Managing Director of Russell Investments Canada, on the show to discuss this new calculation. The Rule of 20 states that…
How Much Do You Need To Retire? The 4% Rule
While many banks, especially around RRSP season, will try to convince you to save as much as possible if you ever want to be able to retire. One simple way to decide for yourself what you’ll truly need to retire is the 4% rule. The 4% rule states that you can withdraw 4% of your…
Fee-Only Financial Planners
Looking for some professional help with your investments, budget and retirement planning? You should look for a financial planner. Looking for someone to do this with your best interests in mind? You should hire a fee-only financial planner. Fee-only financial planners get their income from you, at $100-$250 an hour, to create a financial plan…
