January 2011

Everybody out of the pool! PRPPs are Not the Answer

  You might have noticed a pension item in the news just before the holidays.  At a December meeting in Alberta, federal and provincial finance ministers decided not to move on improvements to the Canada Pension Plan (CPP), but rather to proceed with some kind of private sector-based savings scheme – a Pooled Registered Pension Plan or PRPP. Federal finance minister Flaherty, who had been part of the broad consensus

Chiffres utiles - 2011

CHIFFRES UTILES POUR VOTRE GOUVERNE: 2011 A. PENSIONS: 1. PRESTATIONS DE SÉCURITÉ DE VIEILLESSE:   (Mensuelles Janvier 2011)  -ajustées tous les 3 mois          $524.23 2. RÉGIME DE PENSIONS DU CANADA/QUÉBEC (2011)   *Prestations mensuelles: Prestations maximum à l’âge    de 65 ans    $960.00   (Réduction annuelle de 6% à l’âge de retraite 60-64,           Augmentation annuelle de 6% à l’âge de retraite 65-70)   *Prestation maximum d’invalidité  $1,153.37   *Prestation maximum au survivant                                   RPC               RPQ   Au-dessous

Useful Numbers 2011

A. PENSIONS: 1. OLD AGE SECURITY BENEFIT          $524.23 (Monthly, January/2010 – adjusted quarterly)    2.  CANADA/QUEBEC PENSION PLAN (2010)       * Maximum Monthly Retirement Benefit at age 65       $960.00       (Reduction of 6% per year for retirement 60-64,       Increase of 6% per year for retirement 65-70)         * Maximum Monthly Disability Benefit $1,153.37       * Maximum Monthly Survivor Benefit                                          CPP          QPP       Under 65           $529.09   $470.98 –