As the population ages, discussions and planning for retirement becomes crucial and very top-of-mind. Since 2010, there has been a lot of talk around pension reform, enhancements to the Canadian Pension Plan and a Pension Plan “Superfund”. There is still much debate as to which route will be best, but late last year Federal Minster Jim Flaherty proposed the creation of a Pooled Retirement Pension Plan (PRPP). This recommendation is one to watch as industry experts are predicting it will increase access to a retirement savings vehicle for smaller organizations.
Regardless of the outcome, as you plan for retirement, it is important to be kept abreast of any government changes and tools to help you understand and plan for your future accordingly.
You can find out more about some of the reforms and update in the latest Cowan Insurance Group Employee Benefits Bulletin. I thought that the information and updates on reform, changes in GST/HST rules and management and retention for pension plans would be of interest to you.
David
No comments yet.