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Retirement Course "To Retirement and Beyond" 3rd Saturday of each month (except December) On behalf of your Sarnia Community Foundation, we present this comprehensive course covering all important areas you will need to know about as you prepare for and enjoy your retirement years. Although this Retirement Course is normally held from 9am - 4pm on the third Saturday of each month at On The Front Restaurant & Lounge in downtown Sarnia, it can be scheduled at your business location for a minimum of ten employees on any business day. For your convenience, the Course is also divided into two 3-hour parts: Part 1 ("To Retirement")
held in the morning provides a detailed look at how individuals should plan for retirement, how they should productively use their financial assets, and how they should make informed financial decisions related to retirement income. Part 2 ("During Retirement & Beyond")
held in the afternoon provides a detailed look at the planning required during retirement to provide for a comfortable income as well as the many considerations and strategies involved in developing an effective estate plan. The registration fee for the entire 6-hour course is $195 which includes a light lunch, handout materials and a $100 charitable tax receipt. You may also choose to attend either Part 1 (Planning For Retirement) or Part 2 (Planning During Retirement) for only $95 which includes handout material and a $50 charitable tax receipt. The Course brochure and content can be viewed on the Sarnia Community Foundation website at www.sarniacommunityfoundation.ca and clicking on "Retirement Course". You may register for this Course by contacting your Sarnia Community Foundation by phone at 519-332-2588. All major credit cards are accepted. No products or services are offered. This is a purely educational program. It is also an important fund raiser for your Sarnia Community Foundation to help us enhance the quality of life in Sarnia Lambton through the support of local charities. Registered Disability Savings Plans (RDSP)
Anyone can contribute up to $200,000 to an RDSP on behalf of someone who qualifies for the disability tax credit. The federal government will provide up to $70,000 in matching grants, depending on income, plus up to $20,000 in disability savings bonds for low-income beneficiaries, up until the year they turn 49. The beneficiary is able to later draw on the capital without affecting his/her disability benefits. New tax rules allow you to carry forward unused government grants and bonds starting from 2008. Beginning July 2011, the proceeds from a deceased individual`s RRSP, RRIF or RPP can be rolled over into the RDSP of a financially dependent child or grandchild with a disability without triggering income taxes or probate fees. It`s a simple, tax-efficient way to leave an inheritance. Changes to Canada Pension Plan Income Phased-In between 2012 and 2016 Starting January 2012, your normal eligible monthly CPP retirement pension at age 65 will increase from the previous 0.50% to 0.64% per month of delay. Beginning in 2013 it will increase by 0.70% for each month of delayed receipt. On the other hand, the reduction in CPP income for those taking it as early as age 60 will also increase from the current 0.5% per month of early start, (but not in 2011). However the monthly reduction increases to 0.52% in 2012, 0.54% in 2013, 0.56% in 2014, 0.58% in 2015 and finally 0.60% in 2016. These changes do not affect those already receiving CPP income in 2010. Guaranteed Minimum Withdrawal Benefit Plans (GMWB) These plans available from several life insurance companies (e.g. Sunwise Elite from Sun Life, Income Plus from Manulife) offer immediate benefits of a five per cent guaranteed income as well as traditional death and maturity guarantees provided by segregated funds. For those not requiring an income yet, the five per cent guarantee amount is added to the investment account balance (referred to as the guaranteed withdrawal balance) regardless of market volatility. Contact us for more information and to clearly understand the pros and cons of this product. Note: Subject to any applicable death and maturity guarantees, any amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Tax-Free Savings Accounts (TFSA) Effective January 1, 2009, every Canadian resident age 18 and over can open up a TFSA at our office or any financial institution, deposit up to $5,000 per year, invest that money in a variety of eligible investments, and avoid paying any tax on future growth or income earned within the account. Contact us to discuss strategies to make the most of this tax-advantaged investment program over the long term.
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