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The Pension Puzzle: Your Complete Guide to Government Benefits, RRSPs and Employer Plans Paperback – Dec 3 2001


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Paperback, Dec 3 2001
CDN$ 92.00 CDN$ 7.20

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Product Details

  • Paperback: 224 pages
  • Publisher: John Wiley & Sons Canada, Ltd. (Dec 3 2001)
  • Language: English
  • ISBN-10: 0471646423
  • ISBN-13: 978-0471646426
  • Product Dimensions: 17.9 x 1.2 x 25.7 cm
  • Shipping Weight: 404 g
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: #1,800,683 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

From Amazon

Pensions were the untold story of retirement planning until The Pension Puzzle. When financial advisers talk to clients, they often concentrate on personalized retirement programs in order to sell mutual funds and other investment vehicles. But a retirement plan should be much more. It's often referred to as a three-legged stool: the personal plan is one leg, government-generated income (Old Age Security and the Canada Pension Plan) is another, and employer-generated pensions represent the third leg. With the amount of attention RRSPs get, you would think that they're the main part of the system. But consider that 95 per cent of Canadians get a government pension and 40 per cent are in employer-sponsored pension plans. These make up a significant part of a retiree's income, in many cases more than personal savings. The Pension Puzzle covers the neglected legs and how pensions contribute to a solid retirement foundation. Part 1 explains the ins and outs of the pension system. Part 2 gives answers to commonly asked questions, such as what if you retire early, what if you are highly paid, what if you split up with your spouse, and what if your employer goes out of business. It includes forms and worksheets, and a whole slew of valuable Internet links.

You might think that because of government involvement you can sit back in your lawn chair and wait for the money from CPP and OAS to pour in when you turn 65, or whenever it is you plan to retire. But it's more complicated than that. The Pension Puzzle explains how to shelter your pension from taxes, what happens if you decide to retire early or late, how to manage it as you balance the other two legs of your plan, and other contingencies. Fear mongerers (especially those who disparage government intervention) would have you believe that government pensions will go broke before the current bulge of baby boomers can collect. But the authors--personal finance journalist Bruce Cohen and actuary Brian Fitzgerald--show that there is no chance the system will break down. They also illuminate the complexities of employer-sponsored pensions, including the pros and cons of defined benefit and defined contribution. (The authors conclude that defined contribution is more advantageous early in your career when you are more likely to move around, while defined benefit is better when you are older and less likely to switch jobs.) In all, Pension Puzzle is the definitive primer for getting the most out of your various pensions. --Edward Trapunski

Review

"The Pension Puzzle is destined to become the definitive reference book on retirement plans for financial advisers and their clients."
Jonathan Chevreau, The National Post

"Spending each day as you choose and getting monthly cheques to pay for it is neither boring nor painful, yet the mention of pensions brings on tension. Bruce Cohen and Brian FitzGerald are right on the money with a sensible, straightforward, and practical guide to how much you can expect, where it will come from, and whether it will be enough. Don't leave work without it."
Michael Kane, The Vancouver Sun


Inside This Book (Learn More)
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Marge often wonders how much she should be socking away each year for retirement. Read the first page
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12 of 12 people found the following review helpful By Glenn McM on Jan. 14 2005
Format: Paperback Verified Purchase
I own the first edition & have now purchased the updated second edition. Everyone who expects to receive a pension should buy this book. It explains in clear, concise terms all you need to know about government & employer pensions. Yes, it is all-Canadian & that is a good thing. Too many books sold in this country speak only of American retirement topics, few of which are of any use to Canadians. This book doesn't dwell on investment strategies - it details what you need to know about OAS, CPP & benefits from your employer's plan. One chapter shows pension rules & standards for each province. Other chapters explain the difference between defined benefit & defined contribution pensions, death, divorce & disability rules, RRSPs and RRIFs. There is a helpful glossary of commonly-used terms in the back as well as phone numbers & websites for government organizations which deal with pension issues. This book is worth every penny of its cost. I highly recommend it.
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1 of 23 people found the following review helpful By Timothy Miller on May 1 2002
Format: Paperback
I belong to a partnership with one employee. We're embroiled in confusion and arguments about our pension obligations to our employee. I thought this book would answer our problems. Maybe it would, if we lived in Canada. Unfortunately, the Amazon description of the book does not mention this tiny little detail.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 3 reviews
1 of 2 people found the following review helpful
Essential Reference Guide Jan. 14 2005
By Glenn McM - Published on Amazon.com
Format: Paperback
I own the first edition & have now purchased the updated second edition. Everyone who expects to receive a pension should buy this book. It explains in clear, concise terms all you need to know about government & employer pensions. Yes, it is all-Canadian & that is a good thing. Too many books sold in this country speak only of American retirement topics, few of which are of any use to Canadians. This book doesn't dwell on investment strategies - it details what you need to know about OAS, CPP & benefits from your employer's plan. One chapter shows pension rules & standards for each province. Other chapters explain the difference between defined benefit & defined contribution pensions, death, divorce & disability rules, RRSPs and RRIFs. There is a helpful glossary of commonly-used terms in the back as well as phone numbers & websites for government organizations which deal with pension issues. This book is worth every penny of its cost. I highly recommend it.
0 of 1 people found the following review helpful
This applies only to Canada May 1 2002
By Timothy Miller - Published on Amazon.com
Format: Paperback Verified Purchase
I belong to a partnership with one employee. We're embroiled in confusion and arguments about our pension obligations to our employee. I thought this book would answer our problems. Maybe it would, if we lived in Canada. Unfortunately, the Amazon description of the book does not mention this tiny little detail.
0 of 1 people found the following review helpful
This is for Canadians Feb. 17 2005
By Gadgester - Published on Amazon.com
Format: Paperback
When I first saw this book I thought it would be a good read for my parents, but good thing I did more research on it and realized this book is strictly for Canadian citizens. I really have no comment. I just wish there were a similar book for us Americans.


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