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"This book was written to explain in layman terms how the Canadian public pension system works, what benefits are offered, how to apply for it, and how to get the most out of it. The target audience is people at or approaching retirement age, financial services professionals, and students of the public pension system. Subject matters include: the Old Age Security program, Guaranteed Income Supplements, Allowances, the Canada/Quebec Pension Plan, provincial income supplement programs and income supplements and disability pension offered by Veterans Affairs Canada. Financial planning strategies such as when to collapse your RRSPs and how to minimize OAS clawbacks are included."--
An "owner's manual" for every Canadian with a pension plan. Millions of Canadians are covered by pension plans in one form or another-whether that's CPP or a company plan, or personal RRSPs. But pensions are the benefit least understood by employees. They're confusing and complex, but understanding pensions is crucial to every Canadian's financial security in retirement. Since its initial publication, The Pension Puzzle has become the definitive book on the subject. Now completely revised and updated, The Pension Puzzle remains a true owner's manual for anyone with a pension plan. The Pension Puzzle is not just for those about to retire. It's for every working Canadian who needs to make decisions about their pension plan and how it affects their financial future.
Like other transfer programs, a pay-as-you-go public pension system can significantly affect economic behavior and, hence, relative prices and macroeconomic aggregates. This paper illustrates some of these effects, which are important in weighing options for reforming public pensions, in the context of a stylized model of the Canadian economy. It shows that introducing such a system can reduce aggregate saving, income, and wages and increase interest rates. It also shows that a significant part of the distortion can occur because benefits are not explicitly linked to contributions and that creating a linkage can reduce the distortions associated with the wage tax that funds plan contributions.
This guide presents an overview of the scope and structure of the Pension Satellite Account as well as the methodology used to derive its stocks and flows estimates.