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.
@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?)
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
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 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
Defined Benefit pension, everyone's dream. No matter which of these 3 plans you may have, consider yourself VERY lucky to have it.
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.
Awesome!
Helpful. Thanks.
Very informative video, thank you!
@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?)
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
Bridge benefit ? If this is offered Is it an automatic or do you need to be at the company a certain amount of years ?
its offered by your pension plan automatically if it has one
@ thank you so much
Great video thanks!
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 👍😊
Hi there, if you lived in that house for last 4 years then no
@@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
Military is still formula 1 I think also what about deferrals? I hear it wont be reduced for every year of service
I am not sure about that! Depends on the wording of penalty, here it says employment
Typo...penalty not penality
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