Sentences with phrase «lower pension payment»

A shortened work career and less pay mean a lower pension payment in retirement.

Not exact matches

Direct program expenses were up $ 1.0 billion (5.5 %), primarily due to the timing of payments as well as an increase in federal government employee pension and other future benefit liabilities, reflecting the impact of lower interest rates.

We originally planned to use our military pension payments to purchase more properties, but have instead diversified into low cost index funds and a few selective bond offerings as a hedge.

However, Labour has pointed out that there will be much lower in - work benefit payments for new claimants put on universal credit — the system championed by the work and pensions secretary, Duncan Smith.

Rochester Mayor Tom Richards says while his city's pension payments are much lower than that, proportionately, they are just as devastating to his budget.

Tier 2 offers worse benefits for new teachers: it has a higher minimum service requirement (up from five to 10 years, making it more difficult for new teachers to qualify for a minimum benefit), a higher normal retirement age (meaning teachers have fewer years to collect pension payments over a lifetime), a less generous pension formula (calculating the final average salary from the last eight years of service instead of just four), and a lower COLA.

Currently, teacher pension plans have relatively low retirement ages, encouraging teachers to spend more years in retirement and consequently draw more pensions payments.

* This estimate would be adequate to use if pension payments formed a normal distribution and there were no high or low outliers.

The chances that you'll be able to do better than the monthly payments offered by your employer are low — a 2015 General Accounting Office on pensions and lump sums found that the payouts on company pensions are generally much more generous than those offered by private insurers — but it doesn't hurt to check.

Some pensions calculate your monthly pension payment so that you get a higher pension until age 65 and then a lower pension after age 65.

Since the pension income - splitting rules limit the ability to income split to 50 % of the amount received, a spousal RRSP may still allow for greater income splitting since 100 % of the payments from the spousal RRSP can be taxed in the hands of the spouse with the lower income.

You may even lose your job at some point; experience a disability; retire early, transfer a commuted value lump - sum payment from your pension into a locked - in RRSP; or decide to defer your pension start date at retirement — all things that could create a year or number of years where your income is significantly lower and strategic RRSP withdrawals could be made at a lower tax rate than today.

As you can see, the more pension that is available to the surviving spouse, the lower the overall pension payment.

What the Windfall Elimination Provision does is make sure that people do not collect the subsidized low - income payments while also collecting a full pension.

Part of that return will come in the form of dividends from Canadian stocks, which qualify for the dividend tax credit and are consequently taxed at a lower rate than annuity or pension payments.

You can start your CPP as early as age 60, but like the military pension your husband receives, if you start a pension earlier, your payments are lower.

Social Security Leveling Option - An optional type of pension benefit in some plans that provides higher monthly payments to retirees before a specified age (for example, before age 62 or 65) and lower payments thereafter.

With a pension, you can opt to take a single life benefit (which is a higher monthly payment, but payments cease after death), or a joint survivor benefit (which is a lower monthly payment split between both spouses and continues after a spouse passes).

The Court of Appeal overturned a lower court decision where the Judge vested 100 % of this man's monthly pension payments in his ex-wife, and ordered the garnishment of that same percentage of the payor's government old age monthly benefits (even though federal legislation limits attachment of all those benefits to 50 %).