This is what’s protecting your pension + MORE Sep 30th

Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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 retirement savings

How to boost your returns in retirement + MORE Oct 21st

Shutterstock What’s the single biggest fear retirees face? Undoubtedly it’s the prospect of outliving their money. And as this column has pointed out before, retiring in this second decade of the 21st century poses challenges for just about any healthy person who lacks an inflation-indexed emplo.... More »
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Sears looking to close all stores, 12,000 to lose jobs + MORE Oct 14th

TORONTO — Sears Canada Inc. is seeking court approval to liquidate its roughly 130 remaining stores, leaving approximately 12,000 employees without a job. The embattled retailer, which has been operating under the Companies’ Creditors Arrangement Act since June, said Tuesday that it had fail.... More »
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RRSP withdrawals in your 40s Oct 7th

Q: I’m a federal government employee and was thinking about take some time and using my RRSPs to live on during that time (1 year). My bank said I could turn my RRSPs into a RRIF and withdraw monthly from that for income. I’m only 40. Is this possible? I’ve read online that you m.... More »
Millennials have a six-figure start on retirement saving. Here’s howThose born between 1981 and 1997 and who have participated in their company’s pension plan for 10 years have an average balance of $109,400, says a new study.

Continue Reading On thestar.com »

As most people are well aware, job security in the private sector is often problematic in these days of corporate restructurings and mergers. This can extend even into the realm of employer pensions. It’s one thing to receive an inflation-indexed Defined Benefit pension sponsored by the government or a strong union, particularly if the pension is ultimately backstopped by taxpayers.
It’s quite another thing in the private sector. As the recipient of two modest employer DB pensions, the ultimate insecurity of such arrangements doesn’t always make for sound sleep. Fortunately, residents of the Province of Ontario are among the few Canadians who benefit from something called the Ontario Pension Benefits Guarantee Fund (PBGF).
Established in 1980, the PBGF covers more than 1,500 DB plans and 1.1 million members in the province. Participation is mandatory for most DB plans registered in Ontario. Initially, the PBFG provided a floor on the first $1,000 a month of pension income but in May 2017, the Ontario Ministry of Finance announced that “in the event that a pension plan is not fully funded and the employer is bankrupt, the government will be increasing the monthly guarantee provided by the Pension Benefits Guarantee Fund for a plan member’s pension by 50%, to $1,500 from $1,000…

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