A client recently contacted us with the following concern: “I took some time off work for maternity leave when I had my child. Now I have returned to work, and I have been notified that I have the option to buy back my pension. What does this mean, and should I do it?” A pension buyback, also referred to as […]
Many Canadians approaching retirement wonder if they should share their CPP retirement pensions. While this may be advantageous for some, it’s not always the best choice for all. First and foremost, in order to be eligible to share your CPP pensions, you must currently be married or in a common law relationship. Single individuals, as well as those who were […]
Question. I’m planning to retire next year and wondering about my pension. I have been with the same employer for about 25 years, and have a defined contribution (DC) pension plan. What are my options when I retire? Answer. That’s a great question, and a very important decision regarding your retirement. While retirement with a defined benefit (DB) pension […]
Question. I’ve been a software developer with an engineering firm for many years. Although I enjoy software development, I feel I’ve outgrown my role, as there is no room to advance at my firm. I have several potential contract opportunities, but I’m nervous about leaving my employer. I have a great benefits and pension plan, and despite the opportunity for […]
Question. I have been diligent in investing my TFSA and RRSP accounts over the years. I would like to retire in the next 10 years or so, but I’m not sure if I will have enough saved by then. Can you tell me, how much savings I should have in order to retire? Answer. That’s a great question, but nearly […]
Question. I’ve been working with the same employer for about 7 years, and I’m a member of the company pension plan. A few weeks ago I applied for a position at another firm, and was just recently offered the new job. It’s a significant increase in pay and seems like a great position, so I intend to move forward with […]