Pay attention to your Defined Benefit pension plan!!

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  • Опубликовано: 22 дек 2024

Комментарии • 22

  • @johnnyv5995
    @johnnyv5995 4 месяца назад +12

    Defined Benefit pension, everyone's dream. No matter which of these 3 plans you may have, consider yourself VERY lucky to have it.

  • @colind7678
    @colind7678 4 месяца назад +8

    I am 4 years away from collecting my defined benefit pension at rhe age of 55. My wife and I also get to keep my health benefit plan for life. Thanks to my my labour union for negotiating for my retirement. I will be set to make around the same amount with my bridege benefit after working for 30 years in my trade.

  • @Halfhoff
    @Halfhoff 29 дней назад

    Helpful. Thanks.

  • @ashleygesty7671
    @ashleygesty7671 4 месяца назад +1

    Very informative video, thank you!

  • @sholbech22
    @sholbech22 3 месяца назад

    @JackyKuk for the federal plan after 2013. If an Individual retires after 55, but doesn't start (defers) pension to 65!... would there be a loss of 50% on the annual amount??. Also, do you use any software application to look holistically at a client/couples tax rates (snap?)

    • @JackyKuk
      @JackyKuk  3 месяца назад

      If hes employed at 55 still then retires he doesnt get the 50% hit (still has to look at pensionable credit), yes snap is one of the tool i like to use

  • @jgalt5002
    @jgalt5002 5 дней назад

    Bridge benefit ? If this is offered Is it an automatic or do you need to be at the company a certain amount of years ?

    • @JackyKuk
      @JackyKuk  5 дней назад +1

      its offered by your pension plan automatically if it has one

    • @jgalt5002
      @jgalt5002 5 дней назад

      @ thank you so much

  • @RanbirSinghLive
    @RanbirSinghLive 4 месяца назад

    Great video thanks!

  • @gaila.8830
    @gaila.8830 4 месяца назад

    Thank you for this great video 😊
    I have a question if you have an answer: I did work for a company and participated in a defined contribution plan
    I'm not in that company any longer and was offered to transfer it to RRSP account or leave it there
    Wanted to know: can I use this money to buy a house if taken by RRSP?
    I already have a house 10 years in
    So I was wondering if I can buy another asset this way?
    Thanks 👍😊

    • @JackyKuk
      @JackyKuk  4 месяца назад +1

      Hi there, if you lived in that house for last 4 years then no

    • @gaila.8830
      @gaila.8830 4 месяца назад

      @@JackyKuk thank you for your quick response
      Not sure though I understand into why
      It's 10 years I have a house bought with RRSP
      My idea was to transfer my defined retirement plan to a RRSP in order to buy another asset through same process, the RRSP

  • @FeydHarkon666
    @FeydHarkon666 4 месяца назад

    Military is still formula 1 I think also what about deferrals? I hear it wont be reduced for every year of service

    • @JackyKuk
      @JackyKuk  4 месяца назад

      I am not sure about that! Depends on the wording of penalty, here it says employment

  • @petervaneverdink448
    @petervaneverdink448 4 месяца назад

    Typo...penalty not penality

  • @mtrest4
    @mtrest4 4 месяца назад

    Delete the "financial advisor" spam messages all over the message section.