Commuting a
 Pension Plan

By Garry Keiller, The Nakamun Group, Edmonton

Some defined benefit pension plans offer the option, under certain circumstances, such as retirement or termination of employment prior to age 55, to transfer a lump sum value to an individual retirement account. This lump sum payout is the “commuted value”, and is the present value of future expected pension payments. Read More…

The Ups and Downs of
 Oil Prices

By Greg Farries, BSC, Calgary

In June 2014, the price of oil was comfortably above $100 a barrel. Since then, the price has declined by approximately 50 percent, largely due to a classic supply/demand imbalance. New technology has enabled record global production, creating oil inventories in the US unparalleled in 80 years. The precipitous drop in prices has caused oil companies around the world to cut their capital spending. In Alberta alone, oil companies have cut their planned 2015 expenditures by more than $20 billion. Read More…

A Lifetime Decision

By Floyd Murphy, CFP, CLU, CHFC,
The Nakamun Group, Vancouver

Selecting the optimum option offered by a defined benefit pension plan is worthy of the angst the process often causes. This is a decision that, once made, cannot be changed, and will affect the income of a pensioner, and where applicable, spouse, for the rest of their lives. Read More…

Everyone’s Pension Plan/Life Annuity

By Floyd Murphy, CFP, CLU, CHFC,
The Nakamun Group, Vancouver

Every qualifying Canadian has at least one life annuity, thanks to the Federal Government’s Old Age Security (OAS) program. Most also have a Canada Pension Plan (CPP). OAS pays an indexed monthly income (life annuity) to everyone, and ceases the day you die. CPP income depends on the amount contributed during a lifetime of work, and offers some flexibility and survivor benefits, a form of a joint and last survivor life annuity.

For most Canadians, OAS and CPP are the foundation on which to build retirement income.

Pension Plans Vary 

By Shauna Blackburn-Cook, BCom 

The Nakamun Group, Edmonton

An employer-sponsored pension plan is not a one-size-fits-all employee benefit. Depending on the type of plan, at some point, each member has an opportunity to customize the options to best meet their circumstances. Read More…