Sentences with phrase «without employer pension plans»

IRAs WERE FIRST INTRODUCED IN 1974 as a way for those without employer pension plans to save for retirement.

Only a small minority (roughly 15 to 20 per cent) of middle - income Canadians retiring without an employer pension plan have saved anywhere near enough for retirement and the vast majority of these families with annual incomes of $ 50,000 or more will be hard pressed to save enough in their remaining period to retirement (less than 10 years) to avoid significant fall in income.

The Broadbent study found that the average retirement assets for families without an employer pension plan was $ 85,000 while the median was just over $ 3,000.

Not exact matches

(Employers without a pension plan are not, as early proponents had hoped, required to offer PRPPs, however.)

For single taxpayers without access to an employer - sponsored pension, and for married couples in which neither spouse participates in such a pension plan, there are no income restrictions on the deductibility of traditional IRA contributions.

Teachers without Social Security coverage face substantial uncertainty and must rely more heavily on their employer retirement plans (state pensions) and personal savings.

You may be able to receive full benefits from an employer defined benefit pension plan without separating from employment once you reach age 62.

Medium employers (with 50 - 499 employees) without registered workplace pension plans start contributions Jan. 1, 2018.

Another major initiative is the Ontario Registered Pension Plan (ORPP), a compulsory defined benefit plan requiring equal 1.9 % employee and employer contributions (up to income of $ 90,000) for workplaces without employer pensiPlan (ORPP), a compulsory defined benefit plan requiring equal 1.9 % employee and employer contributions (up to income of $ 90,000) for workplaces without employer pensiplan requiring equal 1.9 % employee and employer contributions (up to income of $ 90,000) for workplaces without employer pensions.

Comparable plans: The ORPP would be mandatory for employees and employers without a comparable workplace pension plan.

Small employers (with 50 or fewer employees) without a registered workplace pension plan will be required to contribute starting January 1, 2019; and

Large and medium employers (with 50 or more employees) without a registered workplace pension plan are required to contribute starting January 1, 2018;

Wave 2 — Medium employers (50 — 499 employees) without a workplace registered pension plan as of August 11, 2015.

Wave 1 — Large employers (500 employees or more) without a workplace registered pension plan as of August 11, 2015.

Wave 3 — Small employers (50 or fewer employees) without a workplace registered pension plan as of August 11, 2015.

(2) The right under section 5 to equal treatment with respect to employment without discrimination because of sex, marital status or family status is not infringed by an employee superannuation or pension plan or fund or a contract of group insurance between an insurer and an employer that complies with the Employment Standards Act, 2000 and the regulations thereunder.

The ORPP is mandatory for employers without a comparable workplace pension plan.