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Workplace Education

 

A declining number of businesses in the private sector are offering Employment Pension Plans (EPPs) and when they do the Defined Contribution Plan is most frequently offered. 

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The two types of pension plans, Defined Benifit and Defined Contribution, are quite different and you should make certain you understand the difference and what your company offers.

 

There is an excellent explanation of the differences on the Healthcare of Ontario's Pension website:

https://hoopp.com/home/db-pension-advocacy/defined-contribution-vs-defined-benefit-plans

 

Have you looked into Old Age Security (OAS) and Gaurenteed Income Supplement (GIS). Table 2 will give you a sense of the lifestyle it can support.

 https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/payments/tab2-10.html

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Retirement will come and taking the appropriate steps can make it stress free.

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Consider risks and security going forward:

  • The risk of having all retirement funds in a company pension or stock options if the company has a significant downturn 

  • Educate staff regarding investing for retirement without a pension plan

  • Employees should set and reach both short- and long-term retirement goals 

  • Where am I now, where do I want to be, and how will I get there

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Let us provide workplace education to your staff to teach them how to actively participate in their own retirement planning:

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  • Why would you invest money instead of using a savings account to fund your retirement

  • What type of account is best for you - RRSP, TSFA, Advisor or Self Directed Account, Savings Account

  • Who manages your money, you or a Financial Advisor; you need to participate, it is your money

  • How to background check your Advisor and their Company as part of your research

  • Warning signs regarding fraudulent claims and/or advisors 

  • How to set up an account

  • Understand investing terminology 

  • Funding an account  

  • Reading statements

  • What fees do you pay to invest and do you pay the same fee in a Self Directed account as you would to have a Advisor make a trade

  • Do you get the same attention from an Advisor if you have $10,000 or $100,000

  • Self-directed vs Managed Account accounts

  • Compounding

  • Dividends/Dividend reinvestment

  • Types of investment risk that may affect stocks, mutual funds, bonds and ETF's differently

  • Do you need to watch the stock market every day and make frequent changes in your account in order to invest successfully

 

No security recommendations will be made by Arnason Investor Education. The objective is to teach participants the basics of investing with an advisor or in self directed accounts.

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