Pension Plans
Retirement Transition
Tax Planning
Risk Management
Pension Terminology
100
1.55% to YMPE and 2.0% over YMPE
What is the OTPP Pension formula?
100
Monthly CPP reduction in % starting in 2012 for benefits paid before age 65
What is .6% per month
100
$22,970
What is 2012 maximum RRSP deduction limit
100
This term refers to a potential risk of being overinsured for disability coverage
What is Moral Hazard?
100
YMPE
What is Years Maximum Pensionable Earnings
200
Standard Survivor benefit in percentage for the PSSA
What is 50%?
200
Minimum amount (in %) of a superannuation payment that can be shared with spouse
What is 0%?
200
Taxes paid on a $10,000 capital gain at 20% tax rate
What is $1,000
200
Term 100 is an example of this type of Life Insurance
What is Whole Life?
200
The present value of the future series of cash flows required to fulfill a pension obligation
What is Commuted Value?
300
Type of indexing that RBC defined benefit plan has
What is Ad Hoc indexing?
300
Minimum age at which the pension tax credit can be claimed
What is no minimum age
300
Maximum Canada Disability Savings Bond (CDSB) payment
What is $1,000
300
This type of insurance contract usually offers death benefit and reset value guarantees for investments
What are Segregated Funds
300
A pension payment left within the plan to be taken at a future date.
What is a Deferred Pension?
400
This pension plan has a 67% survivor benefit that cannot be changed
What is OMERS?
400
This government benefit was started in 1952 to provide supplemental benefits to low income seniors.
What is OAS?
400
15% of the grossed-up dividend.
What is the 2012 federal dividend tax credit?
400
One benefit of a Universal Life Policy
What is Creditor protection/tax free withdrawals etc...
400
Regulatory body for pension plans in Ontario
What is The Financial Services Commission of Ontario?
500
This Ontario public service pension plan indexes pension payments at 75% of CPI
What is HOOPP?
500
Within $10, what is the maximum CPP benefit in 2012
What is $987?
500
Lifetime maximum CESG per beneficiary
What is $7,200
500
Regional Goal for Creditor Protection penetration
What is 50%
500
The term used to refer to a pension plan that is being closed and dispersed to members
What is Wind-Up or Wind-Down?
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