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Retirement Planning FAQ

This FAQ answers some of the most common questions asked about an Retirement Accounts and planning. If you have any additional questions, send us an email and we would be pleased to help.

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Why prepare a Retirement Analysis today if I am not retiring for many years?

Planning for retirement requires a long-term commitment that should not be delayed. One of the most important aspects of the financial planning process is preparing for a secure retirement.

The decisions you make today will have a huge impact on your lifestyle in retirement.

We can help you determine how much you will get from your company pension and the government when you retire, and how to make up the difference with your own customized investment plan.

How much will I receive from Canada Pension Plan (CPP)?

The Canada Pension Plan is Canada's government and user-financed pension plan. Every working Canadian contributes to the plan - either by payroll deductions at work or, for those who are self-employed, directly via the Canada Revenue Agency. The amount you may be entitled to depends on a number of criteria.

Click below to find out more about CPP and the maximum benefits available to you.

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How much will I receive from Old Age Security (OAS)?

Old Age Security (OAS) is a universal, federal benefit provided to retired Canadians aged 65 and older.

Click below to find out more about OAS and the maximum benefits to you.

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What is a Pension Adjustment Reversal (PAR)?

You may have additional contribution room arising from a Pension Adjustment Reversal (PAR). The purpose of the PAR is to restore RRSP contribution room that was previously lost from Pension Adjustments (PAs). A PAR arises where the termination benefit from a Registered Pension Plan (RPP) or Deferred Profit Sharing Plan (DPSP) is less than the total PAs attributed to benefits accrued under the plan. This may happen either if you were a member of a defined benefit pension plan or if you've lost unvested benefits under any RPP or DPSP. If applicable, PARs will be added to your contribution room for the year of termination.

How would I receive a Past Service Pension Adjustment?

A PSPA may arise if:

a) Your pension benefits under your employer's registered pension plan are retroactively upgraded to provide better benefits
b) You transfer benefits to another pension plan involving the purchase of additional benefits relating to past service

What is a Defined Benefit Pension Plan?

A plan that specifies the pension to be provided on retirement (usually based on number of years of service, average earnings, etc.). If a plan is contributory, the rate of employee contributions may be specified, with the employer paying the balance of the cost.

What is a Defined Contribution Pension (Money Purchase) Plan?

A plan that specifies contributions to be made by the employer and possibly the employee, but does not guarantee the amount of pension benefits that the employee will receive. This amount depends on accumulated contributions and earnings in the pension plan.


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