Two of our most well-read articles here on MDJ cover the “government pension” that consists of CPP and OAS. In order to give the most accurate view of the pension landscape in Canada, I thought I’d take a look at defined benefit pensions plans and defined contribution plans as well. ...
A sum of money paid regularly as a retirement benefit or by way of patronage. tr.v.pen·sioned,pen·sion·ing,pen·sions 1.To grant a pension to. 2.To retire or dismiss with a pension:"Some French farmers suggest that the Government pension off the older and less efficient farmers"(...
Pension. A pension is an employer plan that's designed to provide retirement income to employees who have vested -- or worked enough years to qualify for the income. These defined benefit plans promise a fixed income, usually paid for the employee's lifetime or the combined lifetimes of the...
Leading pension specialists and financial advisors with particular expertise and experience in dealing with the new choices that you have for your Final Salary/Defined Benefit pension.
Individuals born in later years will likely have a slightly different target number since they are less likely to retire with a defined benefit pension, will have had different lifetime earnings profiles and will have somewhat different sources of income during retirement. In short, steps are ...
Sources and Measurement of Risk in Defined Benefit Pension Plans Eric Klieber, FSA, MAAA, EA Presented at The Great Controversy: Current Pension Actuarial Practice in Light of Financial Economics Symposium Sponsored by the Society of Actuaries Vancouver June 2003 Copyright 2004 by the Society of Act...
you might have access to both types of plans. Or, if you’re an older worker, you might have a defined benefit plan from earlier in your career (when company pension plans were more prevalent) and a defined contribution plan now. You can still draw on your defined benefit plan during re...
A system and method for providing a user with a portable benefit based on a formula the result of which indicates the exact guaranteed minimum periodic income that the user will rec
Many employees who were relying on their employer-funded pension plans were left to fend for themselves when their employers failed to fund the plans. Similarly, many employees were left in a bind when their employers terminated defined-benefit plans or downsized their staff, giving the workers ao...
Unlike defined benefit (DB) pension plans, which are professionally managed and guarantee retirement income for life from the employer as anannuity, DC plans have no such guarantees. Many workers, even if they have a well-diversified portfolio, don't put enough away regularly and will find that...