RETIREMENT PLANNING

 

RETIREMENT PLANNING

 

Retirement planning is the act of setting aside enough money during one's younger years to afford income savings during retirement. In other words, retirement planning is provision of finances for retirement.

The goal of the retirement planning is to realize financial liberty, so that the need to be profitably employed is discretionary rather than a obligation. The process of retirement planning is to evaluate willingness to retire given a preferred retirement age and lifestyle. It also identifies actions to develop willingness to retire.

Canada Insurance Coverage, one of the best insurance companies from Toronto, can provide Retirement Planning. 

The Canadian government has developed a calculator to help you plan for retirement. This calculator takes you slowly but surely through an approximate of the constant income you may receive during your retirement from:

• Old Age Security
• Canada Pension Plan
• Employer Pensions
• Registered Retirement Saving Plans
• Other sources of ongoing income


Major benefits of the Retirement Planning are:

• Contributions made to a pension plan are tax deductible.
• Employer contributions do not affect any payroll taxes as they are not included to determine the

   contributions to other programs.
• Investment incomes generated by the pension fund in which contributions increase are tax free.
• The employer contributions are vested to the plan member as soon as his or her membership

   begins.
• In case of the member's death, his or her spouse or designated beneficiary or members heirs

   receives the pension or other benefit.
• The benefits accrued in a plan cannot be seized, except in few cases like seizure for child

   maintenance etc.
• The pension fund can be seized if the business goes bankrupt as the fund does not belong to

   the employer.

 

Education planning

Estate Planning

Tax Planning

Wills and Poa

 

Just call on 1.855.846.2524 and get best policies for you and your family.Just call on 1.855.846.2524 and get best policies for you and your family. you can email us on info@canadainsurancecoverage.ca

 

 

 

Get A free Quote Get A free Quote

 

Name

Email

Phone

Interested In or Comments:

 

 

Quote Bottom bg

 

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player