All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Close to retirement? Don’t panic, say financial experts Mar 23rd
If you are going to dip into your savings, do so in a planned way and track what you remove..... More »
Money Makeover: Should she rely on rental income in retirement? + MORE Jun 17th
Gina says she is uncomfortable with owning a rental property. There are better choices for a risk-averse investor..... More »
Using RRSP money for a renovation + MORE Aug 19th
Q: My daughter and my husband bought a $400,000 property three years ago near Midland, Ont. My husband earns $59,000 annually and my daughter $16,000 (self-employed). They want to renovate the kitchen and eventually sell the home to make a profit on it. The mortgage is $319,000. My daughter wants .... More »
Can I receive a share of my ex’s military pension? + MORE Dec 16th
Q: I was married to a Navy man, went through mediation and it was in our divorce settlement that I was entitled to receive half of his military pension. I thought I had to wait until he turned 65 to be entitled to half but I’ve been told that as soon as he left the Navy he was getting his pension..... More »
What’s my RRSP contribution limit for 2022? Nov 16th
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2022 and may even be looking forward to a hefty tax refund. (The deadline for filing this year is April 30, 2023, and since that date falls on a Sunday, you actually have until May 1, 2023 to file.) You can help ensure that.... More »
WestJet vote 62 per cent in favour of forming the airline’s first union
– canadianbusiness.com
The Air Line Pilots Association, International says more than 1,400 WestJet pilots have voted 62 per cent in favour of forming the first union at Canada’s second-largest airline.
The vote makes the ALPA, which bills itself as the world’s largest pilot union representing 55,000 pilots, the exclusive bargaining agent for WestJet pilots.
“We look forward to putting ALPA’s vast resources to work to help the WestJet pilots reach their first contract,” said Dan Adamus, president of ALPA Canada, in a statement.
WestJet chief executive Gregg Saretsky said that the airline (TSX:WJA) is disappointed with the outcome of the vote, but will now focus on engaging in constructive dialogue with the ALPA.
The company, which has long prided itself on being union-free and considers it a competitive advantage, saw its share price drop 4.2 per cent to close at $21.98.
Rob McFadyen, a member of the WestJet ALPA Organizing Committee, stated that the vote was about ensuring support in issues like health, retirement, fatigue, safety, family support and legal protection…
The vote makes the ALPA, which bills itself as the world’s largest pilot union representing 55,000 pilots, the exclusive bargaining agent for WestJet pilots.
“We look forward to putting ALPA’s vast resources to work to help the WestJet pilots reach their first contract,” said Dan Adamus, president of ALPA Canada, in a statement.
WestJet chief executive Gregg Saretsky said that the airline (TSX:WJA) is disappointed with the outcome of the vote, but will now focus on engaging in constructive dialogue with the ALPA.
The company, which has long prided itself on being union-free and considers it a competitive advantage, saw its share price drop 4.2 per cent to close at $21.98.
Rob McFadyen, a member of the WestJet ALPA Organizing Committee, stated that the vote was about ensuring support in issues like health, retirement, fatigue, safety, family support and legal protection…
Stretch your retirement nest egg
– moneysense.ca
TORONTO —Taxes are rarely a consideration for most Canadians saving up for retirement, as RRSPs and TFSAs provide generous tax-sheltering opportunities.
But once the time comes to start tapping into your nest egg, tax efficiency becomes far more complicated, experts say. In addition to drawing income from your portfolio, you’ll need to combine it with government pensions and possibly employer pensions, while accounting for potential clawbacks to government benefits like Old Age Security.
Adding to the complexities is that every person’s situation will be different, says Daryl Diamond of Diamond Retirement Planning Ltd. in Winnipeg and author of Your Retirement Income Blueprint.
How to drawdown your retirement portfolio »
“There is no one formula that applies to everyone where you push a button and that’s the solution,” he says. “This is really a point in time where people need specialized advice.”
When working with clients, Diamond says the first thing he looks at is all their different sources of income coming from registered and non-registered accounts, with a view toward long-term tax efficiency…
