What is a Commuted Value? The commuted value is the lump-sum equivalent of the future pension income you’ve accrued to date in your defined benefit pension plan (“DB plan”). Simply put, it is the amount your future pension is “worth” at the moment you end your employment, reflecting current economic conditions. It represents the amount […]
When most people think of group retirement programs, they picture long-term savings, employer contributions, and investment growth for life after work. What’s often overlooked, however, is that these plans are not just about preparing for retirement — they are also one of the most effective budgeting tools available today. Built-In Discipline Without the Struggle One […]
Menopause marks the stage in a woman’s life when menstruation, ovulation, and fertility come to an end. It is a gradual process with three stages: perimenopause, menopause, and post menopause. Symptoms can last anywhere from six months to fifteen years. In Canada, an estimated four million women experience symptoms such as hot flashes, brain fog, […]
Obesity in Canada In Canada, obesity is generally not recognized as a disability or a protected ground under the Human Rights Act. However, it is increasingly being recognized as a chronic disease rather than merely a lifestyle issue. Obesity can lead to various health conditions, including type 2 diabetes, cardiovascular disease and osteoarthritis. It currently […]
The markets have been anything but calm lately. The impact of tariffs or potential tariff threats are causing uncertainty in the global economy resulting in sharp swings in both directions over the past few months. While short-term volatility can feel unsettling, it is important to remember that these mega fluctuations, although infrequent, are an expected […]
CPP Background CPP/QPP (called ‘CPP’ for the purpose of this article) is a partially funded government pension that pays a pension income for life for those who contributed during their working years. In 2024, the maximum pension amount at age 65 is $1,364.60 ($16,375 per year), however the average payment is $816.52 per month. Your […]
Since our last news bulletin on this topic in December 2023, the federal government’s CDCP has been made available to eligible Canadians in all categories except those between age 18 and 65. Access to the program is expected to open for this group starting sometime in 2025. The CDCP is not intended to be a […]
Source: www.cra-arc.gc.ca and www.canada.ca […]
Source: www.cra-arc.gc.ca and www.canada.ca If you have any questions about these government benefits and limits, please contact June Smyth at 416-863-9159 ext 233. […]
Effective November 28, 2022, FSRA proposed an increase to their pension-sector fees to a minimum of $1,000. The prior fee change in 2019 saw an increase from $250 to $750. The fee is dependent on the number of beneficiaries in the plan, with plans of 91 beneficiaries or fewer subject to a fee of $1,000. […]