Calculating your CPP payout + MORE Sep 4th

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Sure, it’s the best game you can name—but hockey can empty a parent’s wallet like no other sport. These tips will keep your kids on the ice without delaying your retirement.
Score with savings
Save the expensive gear for when the little ones stop growing and buy secondhand from stores like Play it Again Sports, or through sales/swaps organized by minor hockey associations or online classifieds. But even for brand-new equipment, kids don’t need sticks costing more than $75 or skates over $300, says Phillip McKee of the Ontario Hockey Federation.
Host a tournament
This year, the Nepean Vipers—a novice-level hockey team in the nation’s capital—slashed its players’ fees to nearly zero by hosting a tournament in return for free admission and the opportunity to do fundraising with the crowds that generated $2,000. By recruiting tournament sponsors they raised another $1,000.
Speak up on team fees
Let the coaches know you want to keep costs at an affordable level…

A new report from the Fraser Institute is questioning whether the group that manages the CPP is being fully transparent about the costs of investment.

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Trying to figure out how much you’ll get from the Canada Pension Plan when you start getting your payouts? Don’t rely on Service Canada’s official online CPP calculator (servicecanada.gc.ca). While its estimates are reasonably accurate if you’re close to your CPP start date, its future projections can be way off the mark. That’s because CPP entitlements depend on complex earning patterns which the calculator doesn’t fully reflect. If your average level of earnings continues unchanged right up until you retire, the calculator works fine, but it can get tripped up by major changes. It also doesn’t reflect adjustments for periods of low income due to raising kids. If you need a more accurate projection of future benefits, consider hiring CPP expert Doug Runchey. He runs a website at drpensions.ca and his services start at $25.
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