OAS

RRSP: Should professionals use it to save?

March 1, 2017 Jean-Pierre A. Laporte B.A., M.A., J.D. (of the Bar of Ontario) Payroll, Pensions and Benefits, Source Deductions and Reporting, Wages and Compensation

Unlike most Canadians who are not operating a business, many professionals have more options to them when it comes to retirement savings. The average Canadians employed by companies in the private sector will typically use the Registered Retirement Savings Plan or the Tax–Free Savings Account. The lucky few work for organizations that sponsor a registered pension plan, but their numbers seem to be declining every year as a percentage of the workforce not working in para–public employment.

employment law, GIS, Guaranteed Income Supplement, income in retirement, Income Tax Act, OAS, old age security, pension plans, pension rules, personal pension plans, Registered Retirement Savings Plan, RRSP, savings, savings plans, tax–assisted savings plans, tax–deductible contribution, Tax–Free Savings Account, TFSA

Most-viewed articles this week on HRinfodesk

July 11, 2013 Yosie Saint-Cyr, LL.B. Managing Editor Employee Relations, Employment/Labour Standards, HR Policies and Procedures, Human Resources, Human Rights, Notice, Damages and Settlements, Payroll, Pensions and Benefits, Wages and Compensation

The three most viewed articles on HRinfodesk this week deal with breach of confidentiality clauses in settlement agreements; how an employer was held liable despite the employee having suffered no discrimination; and how individuals can now delay receiving their Old Age Security pension plan.

Breach of confidentiality clauses, canadian employment law, damages for injury, discrimination, Employer liability, employment law, human rights code, human rights tribunal, OAS, old age security, release, restrictive covenant, retirement, settlement agreements, severance package, termination, terminations, Voluntary deferral

Slaw: The launch of the new Social Security Tribunal

April 4, 2013 Yosie Saint-Cyr, LL.B. Managing Editor Employee Relations, Human Resources, Payroll, Pensions and Benefits, Source Deductions and Reporting

On April 1, 2013, the federal government launched the new Social Security Tribunal…

administrative tribunal, canada pension plan, cpp, EI benefits, Employment Insurance Act, HRSDC, Human Resources and Skills Development, OAS, Old Age Security Act, social security appeals, Social Security Tribunal

Federal budget 2012 – don’t forget the Old Age Security changes!

April 2, 2012 Yosie Saint-Cyr, LL.B. Managing Editor Employee Relations, Human Resources, Payroll, Pensions and Benefits

Effective, April 1, 2023, with full implementation by January 2029, the eligibility age for Old Age Security (OAS) is increasing to age 67 from 65 to reflect the reality that Canadians are living longer and healthier lives, and intending to keep working and delay retirement. In line with the increase in age of OAS/GIS eligibility, the ages at which the allowance and the allowance for the survivor are provided will also gradually increase from 60–64 today to 62–66, starting in April 2023.

budget, Early retirement, eligibility age, federal budget, general income supplement, GIS, OAS, old age security, pension, retirement, retirement age

2012 federal budget: How will it affect employment in Canada?

April 2, 2012 Christina Catenacci Human Resources, Payroll, Pensions and Benefits, Recruiting and Hiring, Source Deductions and Reporting, Training and Development, Wages and Compensation

The government recently released its 2012 federal budget, which sets out a comprehensive agenda to bolster Canada’s fundamental strengths and address the important challenges confronting the economy over the long term. How will this affect employment in Canada?

2012 federal budget, Aboriginal peoples, Citizenship and Immigration Canada, economy, EI premium rates, Employment Insurance, employment strategy, federal budget, immigration system, infrastructure, investing in training, job creation, labour market, OAS, old age security, skills training and job search supports, Temporary Foreign Worker Program