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Now, I have about a year to decide whether I cash out my federal public service pension plan or transfer the holdings into an annuity (about $93,000) and RRSP (about $71,500).
I have consulted with a financial planner at one of the large banks, who has made a seemingly convincing argument in favour of transferring the entire pension amount out. But I am well aware that I don’t know enough to be able to ask the right questions and make an informed decision. I am also aware the bank will benefit from my investment, as will my financial planner.
Can you give me some good advice on what I should do at this important juncture in my financial life?
–Kathy
A. I recently wrote an article on making the decision to keep your pension or take the cash, and you can read it here…
How to Use Your Credit Card Rewards to Give Dad a Fantastic Father’s Day
– ratesupermarket.ca
Father’s Day is just around the corner on Sunday, June 21, 2020, to be exact. If it slipped your mind, don’t worry, you still have time to grab a gift and plan something special. Whether you are preparing to host a virtual brunch or a socially distanced backyard barbeque, you can celebrate dad on a budget.
Fathers from coast to coast
Consumer facts about Father’s Day
How to treat your dad on a budget
But first, here are some fun facts about fathers in Canada.
Fathers from coast to coast
According to Statistics Canada, there are at least 8.6 million fathers and father figures in Canada. There are so many to celebrate!
Consumer facts about Father’s Day
According to the National Retail Federation (NRF), 75% of our neighbours to the south plan to celebrate Father’s Day this year, with 58% likely to hold virtual celebrations.
Gifts
Only 59% of consumers plan on purchasing a greeting card, down 3% from last year. Special outings saw the most significant decrease in popularity, down 6% from the year before, likely due to the pandemic…