Which is the best Pension Plan for Senior Citizens run by Insurance companies?
My Parents aged 71 yrs and 60 yrs would like to invest in Pension Plan to get decent monthly amount as pension after certain years. Which plan they should opt for?
They should invest in a fixed deferred annuity account for their set time horizon. Annuities with many companies are yielding near 6% or more. After the selected term of the annuity is over, they can then annuitize for guaranteed, lifetime monthly income.
I work full time presently in Ontario. I have been for a few years now. Been contributing to the Ontario Pension Plan. However I might be getting a full time job in Alberta. To which there is a provincial plan there. Would I be able to transfer all my credits in Ontario to the Alberta Pension plan and just continue? Or do I have to start all over again from scratch?
The Income Tax Act does allow a transfer of pension credit from one registered plan to another. The real question is, will the Alberta plan accept the transfer, and will the Ontario plan release your accumulated credits? Contact the pension administrators and ask if the credit can be transferred.
What is better, work for a company with higher pay w/o pension plan. or stay where I am at?
I have been offered a job for much higher pay, but they do not have a pension plan like my present company does. Both have 401K
Depends on if you are a good saver/investor...you can do without the pension if you can save/invest with the extra money you'd be making.
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