The limited protection is the same as what Quebec government offered all pension plans in the province in January 2009.
Pensions and Retirement Security
- See also Retirees.
Legislation will allow an employee who meets pension plan retirement criteria to continue working, and accrue additional benefits, while receiving pension benefits.
Average estimated solvency ratio of federally regulated DB pension plans at June 30, 2009 was 88 percent
The Netherlands (80.5) and Canada (76.2) scored highest in this index due to the level of minimum public pension and a relatively high net replacement rate of income for median income earners.
Only 30 percent of women have a formal financial plan to meet their retirement goals
The Human Resources Council for the Voluntary & Non-profit Sector is conducting a confidential survey which may be of interest to individuals aged 45+ planning to retire or make other work changes, or who are already retired.
"The contractual retirement age and associated post-employment benefits are cornerstones of our collective agreement, which has supported Air Canada pilots' careers for decades."
Old Age Security pension, paid to people 65 years of age and over, will remain unchanged at $516.96 per month
Labour movement is critical of the proposal because the supplemental plan wouldn't be mandatory and doesn't require employers to match employee contributions.
Retirees point out that they are forced to stand in line along with bondholders in order to retrieve the retirement savings and future disability payments Nortel promised before it went bankrupt.