The answer is no, Medicare does not cover assisted living in Canada but there are other alternatives available to Canadians. Medicare is a popular term used to refer to Canada’s publicly funded healthcare system. It covers a range of medical services of which assisted living may or may not be a part. As a senior …
Retirement is a period some people look forward to and others dread, either in anticipation or fear of what comes next. The Canada Pension Plan (CPP) is one of the numerous retirement plans that help you ease into the retirement phase with the assurance of getting paid for the rest of your life. This article …
You’ve probably heard of RRIF but not LIF. LIF is a type of RRIF in Canada. Planning your finance and retirement go hand-in-hand to improve your living situation; you can’t plan your finance without factoring in retirement. So yes, how you plan for your retirement will determine how you live after retiring. With proper planning, …
With Canada’s aging population, more residents will be looking to retire in the coming years. A government benefit designed to help Canadian retirees is the Public Service Pension Plan (PSPP). The main objective of the Public Service Pension Plan is to supply a retirement income to eligible residents during their lifetime. In addition to retirement …
The RRSP or Registered Retirement Savings Plan is a special type of financial account in Canada that is used to hold savings and investment assets. It was introduced in 1957, at a time when the defined benefit pension plan was still the commonly used retirement savings vehicle, wherein your employer pays you a regular sum of money when …
As we grow old, we can rely on a number of government supplements to help us in our old age. There are a few benefits that provide a monthly sum to help pensioners be able to reside comfortably after their retirement. In Canada, the elderly are financially taken care of under the Old Age Security …
With all of the investment options available, it’s completely understandable you need a bit of help figuring out what they are and what their purpose is. You don’t need to venture much further from the category of retirement accounts to see that there are numerous options for you. Most of the options are for regular …
If you work for any school board in Ontario, you have probably heard of the Ontario Teachers Pension Plan. To no one’s surprise, this is a pension plan that is designed specifically for Ontario Teachers. But there’s a lot of questions that come along with OTPP. Let’s address some of the most frequently asked questions …
What is the Ontario Teachers Pension Plan (OTPP)? Read More »
When it comes to living and taking care of personal needs, most people make arrangements that will enable them to get the best care. Others get this sort of arrangement done by their family. Assisted living is one such arrangement for people who generally need support to carry out their daily activities. Navigating the enormous …
If you live in Quebec, you may have heard of something called the RREGOP. This stands for the government and public employees retirement plan, or the “Régime de retraite des employés du gouvernement et des organismes publics” if you speak French. RREGOP Meaning Enacted initially on July 1, 1973, the RREGOP is a Pension Plan …
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