Tag: retirement

The Ontario Retirement Pension Plan

2016 will be the year to learn all about the new Ontario Retirement Pension Plan (ORPP) that is rolling out in 2017. The more prepared you are, the smoother the transition will be. Here are a few facts to help you get up to speed on what's happening - in case you weren't already aware. - The Ontario Retirement Pension Plan (ORPP) aims to replace 15 per cent...

Hello December!

Can you believe it’s already December 1st? For the month of November, we joined Canada’s Financial Literacy Month (#FLM2015) conversation by publishing various posts about saving for retirement, understanding the Canadian retirement landscape and highlighting important retirement terms. We enjoyed the theme, as we understand how important it is to be...

Think twice before withdrawing money from your RRSP

Anyone with money saved in a group registered retirement savings plan (RRSP) has likely experienced the temptation to withdraw some of those savings for a new car or a tropical vacation. After all, retirement is so far off, a small withdrawal now won’t make any difference…will it? Wait! Before cashing in your RRSP, there are a couple of things to consider:...

The Canadian Retirement Landscape

In previous blog posts, we’ve discussed retirement payment options available to you as a member of an employer sponsored retirement plan. Your plan is one of the tools available to help you prepare for retirement. Overall, there are three levels of retirement plans available in Canada: government sponsored public plans, privately sponsored employer plans...

The Power of Compound Growth

compound growth
When it comes to investing, you want time on your side. Make time your ally through compound growth . Compound growth happens when your investment gains, such as interest or dividend income (profits), are reinvested, and the gains on the additions are reinvested, and so on. With compound growth, the earlier you start saving, the less you'll have to put away...

Factors to Consider When Choosing a Retirement Product

As you approach your retirement, you will find a range of different income options available that will allow you to draw on your retirement savings. The options range from flexible retirement plans, like Registered Retirement Income Funds (RRIF) – which allow you to withdraw any amount you want (subject to certain required minimums) – to fixed payment plans...

November is Financial Literacy Month

Can you believe we are into November already? This month is Canada's Financial Literacy Month (FLM), with the focus of: empowering Canadians to manage money and debt wisely; planning and saving for the future; and preventing and protecting against fraud and financial abuse. We are excited to join in the #FLM2015 conversation on our blog and social streams...