tag:blogger.com,1999:blog-14788058.post113318914883741448..comments2023-07-03T10:23:14.105-04:00Comments on RHETORICAL SOUNDOFF: My Tide is Now A ChanginGregory West - Computer Instructor & Freelance Writerhttp://www.blogger.com/profile/15185058876156650020noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-14788058.post-1133450290116715782005-12-01T10:18:00.000-05:002005-12-01T10:18:00.000-05:00Anonymous said... I do believe that the company yo...Anonymous said... <BR/><BR/>I do believe that the company you work for does not manage, nor have access to the pension monies. If you die, your wife gets either 50or 60% of the pension depending on the choice you make at time of retirement. You have not actually stated that you are taking the commuted value, but if you are, I hope your hobby is looking after your monies, because you either have to do it yourself(and hopefully get a good return on it) or you have to pay someone else to do it. Have fun deciding. <BR/>8:34 AM Gregory West (Writer/Editor) said... <BR/><BR/>I do believe that the company you work for does not manage, nor have access to the pension monies. <BR/><BR/>THIS IS CORRECT, THE MONEY IS MANAGED BY AN INDEPENDENT COMPANY. <BR/><BR/>If you die, your wife gets either 50or 60% of the pension depending on the choice you make at time of retirement. <BR/><BR/>TRUE AGAIN. You have not actually stated that you are taking the commuted value, <BR/><BR/>I HAVE BEEN PLANNING THIS MOVE BOTH WAYS FOR MORE THAN FOUR YEARS. I HAVE GOTTEN THE COMMUTED FIGURES SEVERAL TIMES OVER THOSE YEARS AND THIS WEEK I AM AWAITING THE FINAL NUMBERS. THEN I CAN MAKE A BETTER DECISION, HOWEVER MY DECISION CERTAINLY WILL NOT BE MADE ALONE. IN FACT, I HAVE HAD FOUR INDEPENDENT AND SEPARATE FINANCIAL ADVISORS CHECK THESE NUMBERS AND SET FORTH VARIOUS PLANS. THE MOST RECENT PLAN, FROM MY ADVISOR, IS IN THE WORKS AND ONCE THE FINAL NUMBERS COME IN THEN THE FINAL PLAN CAN BE PUT TOGETHER. ONCE THIS PLAN IS SET THEN IT IS SENT OUT, ALONG WITH THE ACTUAL COMPANY PENSION FIGURES, AND ANOTHER COMPLETELY INDEPENDENT GROUP (LAWYER - ACCOUNTANT - FINANCIAL ADVISOR) GO OVER BOTH PLANS AND TELL ME WHICH ONE THEY BELIEVE IS THE BEST FOR ME. <BR/><BR/>but if you are, I hope your hobby is looking after your monies, because you either have to do it yourself(and hopefully get a good return on it) or you have to pay someone else to do it. <BR/><BR/>I HAVE NO INTENT TO MANAGE THIS MONEY, AS IT WILL BE SET INTO A BALANCED PORTFOLIO WHICH WILL BE ANALYZED EVERY SIX MONTHS. IT MUST BE SAID THAT ANYONE GOING THIS ROUTE SHOULD BE COMPLETELY DEBT FREE, MAXED OUT IN RRSPS AND HOPEFULLY HAVE A SPOUSE WITH A PENSION INCOME TO BOOT. ANOTHER GOOD THING TO KEEP IN MIND IS THAT IF IS EVEN BETTER IF ONE CAN NOT TOUCH THAT ROLLOVER FUND FOR AT LEAST TWO YEARS, THUS LETTING THE AMOUNT CONTINUE TO GROW. <BR/><BR/>ONE THING YOU DID NOT MENTION IS THE FACT OF OTHER PENSIONS, SPECIFICALLY, THE CANADA OLD AGE PENSION. WITH OUR CURRENT PENSION FUND THERE IS A ROLL BACK CLAUSE FROM 1969 THAT ALLOWS THE GOVERNMENT TO GIVE YOU THE OLD AGE PENSION AND OUR PENSION MONEY FROM THE COMPANY IS REDUCED ACCORDINGLY, THEREFORE: NO OLD AGE PENSION MONEY AT AGE 65, HOWEVER WITH THE INVESTMENT FUND THERE ARE WAYS TO COLLECT THE FULL CANADA PENSION WITHOUT A PENALTY. <BR/><BR/>Have fun deciding. <BR/><BR/>THANKS, I HAVE BEEN AND WILL HAVE FUN WITH THIS DECISION, BUT AS STATED THE DECISION IS ONE THAT HAS BEEN DEVELOPING OVER A LONG PERIOD OF TIME AND NOT ONE THAT CAME WITH THE DROP OF A HAT. THIS IS SERIOUS BUSINESS AND ONE NOT TO TAKE LIGHTLY FOR SURE. <BR/><BR/>THANKS FOR YOUR COMMENTS AND I LOOK FORWARD TO TALKING FURTHER, ESPECIALLY IF YOU HAVE GONE THIS ROUTE. gregorywest@sympatico.caGregory West - Computer Instructor & Freelance Writerhttps://www.blogger.com/profile/15185058876156650020noreply@blogger.comtag:blogger.com,1999:blog-14788058.post-1133375133578916562005-11-30T13:25:00.000-05:002005-11-30T13:25:00.000-05:00This comment has been removed by a blog administrator.Gregory West - Computer Instructor & Freelance Writerhttps://www.blogger.com/profile/15185058876156650020noreply@blogger.comtag:blogger.com,1999:blog-14788058.post-1133271298551741272005-11-29T08:34:00.000-05:002005-11-29T08:34:00.000-05:00I do believe that the company you work for does no...I do believe that the company you work for does not manage, nor have access to the pension monies. If you die, your wife gets either 50or 60% of the pension depending on the choice you make at time of retirement.<BR/>You have not actually stated that you are taking the commuted value, but if you are, I hope your hobby is looking after your monies, because you either have to do it yourself(and hopefully get a good return on it) or you have to pay someone else to do it. Have fun deciding.Anonymousnoreply@blogger.com