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Canadian Pension Plan
Pension A lifetime monthly income paid to a person who has retired. Pension Benefit Guaranty Corporation (PBGC) In the United States, the organization that insures benefits in defined benefit pension plans. Its purpose is to make sure that all participants in qualified defined benefit pension plans receive the vested benefits to which they are entitled, even if their pension fund goes bankrupt. Per Capita Beneficiary Designation
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- CANADA: Our pensions are Financing Their War
- .. Whether we like it or not, whether were even aware of it or not, the B.C. provincial government is actively involved in underwriting the illegal U.S. occupation of Iraq and ...
- Ontario: Unofficial strike could begin Monday
- .. Unofficial strike could begin Monday Public sector workers are set to walk off the job as early as Monday night, an illegal strike that would cripple government services in the province. ...
- Following Sale of Bell Globemedia, Shaw Communications Resigns from CCTA
- .. By Peter Shout (AXcess News)Calgary, Alberta- Shaw Communications, Inc. (TSX: SJR.NV.B) (NYSE: SJR) announced that it is resigning from the Canadian Cable Telecommunications ...
- US: U.S. Moves to Seize Pension Fund in Dispute With Renco
- .. The federal government filed a lawsuit Friday to seize the pension plan of the bankrupt WCI Steel, saying that the plan was more than $100 million short of the amount it needed and that the ...
- Pension Fund Equity Act passes Congress
- .. by Dave Porter Senior Staff Reporter The Senate on April 8 cleared for the President the Pension Fund Equity Act of 2004, which will allow employers to lower the amount of their required ...
- Travel to Canada, but... Should You Become A Canadian Resident?
- .. Why Become a Canadian Permanent Resident? That's one question you may already be wondering, especially if you've done some research into what the process requires. It isn't easy to become a ...
- US: AFL-CIO puts big CEO pensions under scope
- .. Amid growing concern over a wave of cutbacks in corporate pension plans for employees, the CEOs of top U.S. companies would receive "golden pensions" that range from $2 million to $6.5 ...
- Chao Touts President's Pension Reform Agenda
- .. By Staff (AXcess News) Washington - U.S. Secretary of Labor Elaine L. Chao told attendees at "DOL Speaks: The 2006 Employee Benefits Conference" in Washington, D.C. ...
- SIPP Providers UK
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- US: G.M. to Freeze Pension Plan for Salaried Workers
- .. General Motors announced significant changes today to its retirement benefits covering 42,000 salaried workers in the United States. G.M., the nation's biggest auto company, said it ...
- New UK Pension Plans to be Unveiled
- .. After 3 years of research and discussions, Lord Turner is due to officially announce his proposals for reform to UK pension law. We've already ...
- Pensions: One Hand in the Till
- .. Pensions: One Hand in the Till Feature Article by Solomon Hughes, September 2002 Pensions--once the bedrock of the welfare state--are under attack as never before. ...
- British gas engineers out on strike
- .. gas engineers out on strike British Gas engineers are out on the first of five strikes to protest against the closure of the companies final salary pension scheme to new ...
- Pensions and the Promises Broken
- .. By Paul Petillo (AXcess News) Portland, OR - Thirty years ago, an event occurred quietly in this nation. While few took notice, it changed the way this country's businesses ...
- Canadian public sector wildcat strike on hold - for now
- .. public sector wildcat strike on hold - for now The threated unofficial walkout by over 100,000 Canadian public sector workers over pensions has been postponed - probably until next ...
- GM To Freeze Workers Pension Plan
- .. By Freddie Mooche (AXcess News) Washington - In its move to cuts costs, General Motors Corp. (NYSE: GM) said Tuesday it was freezing salaried workers pension plan while it changed ...
- 1.5 Million may strike over pensions
- .. Million may strike over pensions Workers in nine different unions are to be balloted for strike action over Whitehall plans to alter the local government pensions scheme. Unison, AMICUS, ...
- Hole at the Heart of the System
- .. Hole at the Heart of the System Letter by Hugh Lowe, September 2004 Following John P Johnston's excellent letter ...
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- .. pensions - Adrift in the markets In the first deal of its kind, a major pension scheme has been spun off from its parent company to make the business more attractive to ...
- Unions to 'step up' pension fight
- .. to 'step up' pension fight Trades unions will need to "step up" their defence of pension schemes in the coming year, the TUC leader has said. Brendan Barber said in his ...
- Pensions relapse - companies close final salary schemes
- .. relapse - companies close final salary schemes Two FTSE 100 companies have followed the example of Rentokil in closing their final salary pension schemes, with another likely to ...
- Age Concern
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- 1.5million set to strike today over pensions
- .. set to strike today over pensions Workers across more than nine different unions are set to strike today over an attack on the local government pension scheme, with the Labour government ...
- Canada: Oil Company Targeted for Ties to Sudanese Military
- .. OTTAWA, CANADA -- An oil company headquartered in Alberta, Canada, is the target of a divestment campaign aimed at forcing the company to stop its partnership with the Sudanese government in the ...
- Unions back down, public sector workers split in pensions deal
- .. back down, public sector workers split in pensions deal The government has claimed a victory in the pensions crisis after they secured their target for total pensions savings up to ...
- Michigan Pension Fund Recovers $700,000 from Trustee
- .. By Staff (AXcess News) Lansing MI - A suit filed against the trustee of the Upper Peninsula Plumbers and Pipefitters Pension Fund in Lansing Michigan by the U.S. Department of ...
- PPP = Poxy Private Pension
- .. PPP = Poxy Private Pension Column by The Walrus, June 2004 How the World Bank and your boss are conspiring to wreck your retirement. Slumbering great hulk ...
- Pension Revolt: Time for the TUC to Get its Finger Out
- .. Pension Revolt: Time for the TUC to Get its Finger Out News Article by The Walrus, March 2005 Nothing better illustrates the utter cynicism at the heart of New Labour ...
- A Look at the Congressional Bill to Save Pensions
- .. By Paul Petillo (AXcess News) Portland, OR - Congress had a wonderful opportunity, once again, to do right by the voters who so naively put them in office and fix the pension ...
- Being a British Pensioner in Spain
- .. Can I claim my pension in Spain? Yes. Whether you spend a few weeks there or live permanently in Spain, the Department for Work and pensions (DWP) will pay your pension. How do I go about it ...
- Pensions: From Final Salary to the Final Straw
- .. Pensions: From Final Salary to the Final Straw News Article by Andrew Stone, January 2003 When is a fraud not a fraud? This is a question that millions of people will ...
- NHS Pensions Agency staff vote for strike action
- .. Pensions Agency staff vote for strike action Members of the Public and Commercial Services Union (PCS) working for the NHS Pensions Agency (NHSPA) in Fleetwood have voted overwhelmingly ...
- How to choose Discount Lodging in Rome
- .. In order to find discount lodging in Rome, one needs to first become familiar with the term pension. A pension is like a hotel, only it tends to be smaller. In addition, the price of the room at a ...
- British Airways pilots prepare for strike
- .. Airways pilots prepare for strike Pilots at British Airways are preparing for a long strike over their pension scheme. The company will announce plans by the end of March to ...
- Retirement Tax Havens
- .. Financial planning is really life planning. Choosing a home, particularly a retirement home, involves many factors. With state and local taxes on the rise, retirees should look closely at tax ...
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- Making their minds up? Unions ballot for pension strikes
- .. their minds up? Unions ballot for pension strikes For the third time in two years, the major unions have agreed to ballot for a general strike over public sector pensions. The news ...
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- US: Pensions from Leading Defense Contractors Impede Confirmation of Pentagon Official
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- Nortel auditors complete restatement, profits cut
- .. by Peter Szafranski Bill Owens steers Nortel out of a crisis, working with auditors and management to restate results.If you would like to receive late breaking business news covered by AXcess ...
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- .. MAGPET, Philippines - Shortly after 6 p.m. on July 26, 50 guerrillas from the New People's Army moved into town, set up roadblocks and surrounded the police station. Eight police ...
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- .. Round One to Us Editorial, April 2005 The right wing media and the three main political parties constantly tell us that the trade union movement is an anachronism - ...
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- .. Move Over, Darling Column, April 2002 Is your pension at risk? Yes, minister. You would either need to have a very short memory or a tremendously blinkered ...
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- SWIB plans to invest $50m with Mason Wells and Venture Investors
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Handing over your underfunded pension plan to a financial institution may cripple the plan's tax benefit.
More about Canadian Pension Plan
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The PBGC program has been progressively hemorrhaging more and more money over the years. In 2004, for example, the PBGC's fiscal year deficit increased to $23.3 billion from $11.2 billion a year earlier. In addition, an estimated 30, 000 pension plans are now underfunded to the tune of $450 billion according to Labor Department estimates. These are very disturbing statistics if you are one of the 44 million Americans currently covered by traditional ( benefit) pension plans who risk getting paid pennies on the dollar if their pension plan fails.
Pension plans go by many names. Straightforward pension plans are generally one of two types, either a "defined contribution plan" or a "defined benefit plan." In a defined contribution plan, the employer contributes a predetermined amount to the plan each month.
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