Stay informed. Our latest news and announcements.

Proposed Changes to the Canada Pension Plan

Posted on:

On May 25, 2009 Finance Canada announced some proposed changes to how Canada Pension Plan will work. If approved, the changes will take effect over a period of time from 2011 to 2016, so they will affect anyone planning to retire after 2010. Below is a brief summary of some of the most important changes: Early retirement (before age 65) will result in a reduction in CPP benefits by 7.2% per year…

Read More

Fuzzy Retirement Goals

Posted on:

Retirement funding is a complex machine, with several moving parts. For many Canadians employer pensions and government benefits will make up the core of their retirement income. A recent RBC survey found 54% of Canadians expect their pension will be the largest source of income, but when asked what kind of pension they have, 19% do not know. Personal savings, whether in the form of an RRSP or…

Read More

How you can benefit from this flexible life insurance

Posted on:

Glenn had thought of his life insurance purely as a protection plan. The anti-avoidance rules, risks and general restriction of tax benefits applicable to most shelters prompted him to take a new look at his life insurance for tax deferral as well. A type of policy, called Universal Life, separates the cost of insurance and the 'savings' element of your premium. You know how much of it is being…

Read More

Is a reverse mortgage the way to go?

Posted on:

Ralph and Louise have seen the TV commercials featuring Gordon Pape, the financial author, as the spokesman for Canadian Home Income Plan Corp. (CHIP) reverse mortgages. They were wondering if it would be a good way to go to help ease their current financial situation. A reverse mortgage is simply an advance on the value of your home that accumulates interest. The accumulated debt does not need…

Read More

More Overlooked RRSP Tricks

Posted on:

More than 65% of Canadians have made deposits to Registered Retirement Savings Plans (RRSPs). Many do so just for the tax savings, but here are some often overlooked tricks you should be aware of: RRSP loans - Those who use investment funds for their RRSPs should be well aware of the strategy of 'buying low and selling high.' As unnerving as it may feel, one of the best times to make a lump sum…

Read More