News
US State Pension Shortfalls Get Worse
A new report from the PEW Charitable Trust shows that funding for public sector retirement plans in states across the US is getting worse. New Jersey, for example, has only set aside 38% of what it needs to meet its pension commitments. Because public sector workers'...
Withdrawals from Pension Plans Due to Financial Hardship or Medical Disability Costs
Did you know that you (or members of your Canadian pension plan – if registered under the Pension Benefits Standards Act, 1985) may be able to make one or more withdrawals from your pension plan for financial hardship or disability? For financial hardship, the amount...
80 Million People in Caribbean and Latin America at Risk of Poverty in Old Age if Pension Changes Not Made
Angel Gurria of the OECD launched the first edition of "Pensions at a Glance: Latin America and the Caribbean" at the Inter-American Development Bank (IDB) in Washington DC. The Pensions at a Glance report provides detailed comparative indicators of pension structures...
Should Workplace Pension Plans be More Mandatory?
Governments everywhere are trying to nudge people to save more through various incentives such as tax-exempt pension contributions and structures such as automatic pension accounts (though in most cases members can opt-out). But what about employers? What is their...
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2020 YMPE Announced
On November 1st, the Canada Revenue Agency (CRA) announced the maximum pensionable earnings for 2020 will be $58,700, up from $57,400 in 2019. Contributors who earn more than $58,700 in 2020 are not required or permitted to make additional contributions to the Canada...
2019 YMPE Announced
On November 1st, the Canada Revenue Agency announced that the maximum pensionable earnings for 2019 will be $57,400, up from $55,900 in 2018. Contributors who earn more than $57,400 in 2019 are not required or permitted to make additional contributions to the Canada...
Updates for Pensioners in Canada Pension Plan
Click the link below for updates on a number of CPP updates for pensioners, including: Annual indexation 2017 Tax statements Do you have to pay income tax every year when you file your tax return? Coordination of benefits with the Canada Pension Plan and Quebec...
Direct Deposit for Retirees Abroad
Thinking of retiring outside Canada and liking the idea of your Canada Pension Plan pension payment deposited directly into your bank account? Get it done easy! Send a written request to the Pension Centre (LINK BELOW) with a void cheque or a document with the...