Enrolment & Terminations | Beneficiaries | Remittances & Contributions | Investment Options | FAQ's |
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What is Eligible
Employees become ________ to be enroled on the pension plan after they have completed the waiting period.
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What is your Spouse
As per pension legislation, if applicable this person must be listed as your beneficiary.
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What are the Cheque & Remittance
2 things are required when sending monthly pension contributions to the pension plan provider.
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What is 71
The age you no longer contribute to a Pension Plan.
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Who is a Commissioner of Oaths
Along with the employee signature for an SLE, this signature is also required.
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What is Personal Information
This type of information is required to be kept up to date eg: address.
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What is a Trustee
A trustworthy person who has been appointed to look after pension money for a minor.
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What is the Employer Contribution
Amount combined with the employees contribution and remitted to the investment company.
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What is Consolidating
Locating and investing past pension monies in one place.
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What is Vesting
When an employee has entitlement to the employers contributions, it is known as.
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What is the Final Contribution
After termination this is required to be invested prior to the Statement of Options being generated.
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What is a Contingent Beneficiary
A good idea to have as a 'back-up' for your primary.
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What is a Member Number
Identifies each employee and allows the contributions to be allocated correctly.
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What is the Investment Questionnaire
Should be reviewed every 3 years to ensure investment options are up to date.
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What is Online Access
Keeping up to date with your retirement account is convenient using this tool.
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What is a Statement of Options
Each employee will receive one of these upon termination.
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What is a Pension Adjustment (PA)
Box 52 on a T4 Slip
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What is a Retirement Date Fund
An investment options that automatically resets the asset mix of stocks, bonds and cash equivalents in its portfolio according to a selected time frame that is appropriate for a particular investor.
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What is a Deduction
Requires re-calculation after an employee has had a salary change.
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What is the Default Option
If an employee does not elect an investment option, the monies will be invested in.
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What is Revocable
Unless specified, your beneficiary is ________ and can be changed at any time.
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Who is OSFI
An independent agency of the Government and the primary regulator of Federal pension plans in Canada.
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What is a Balanced Fund
A fund geared toward investors who are looking for a mixture of safety, income and modest capital appreciation. The amounts that such a mutual fund invests into each asset class usually must remain within a set minimum and maximum.
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What is 72
This number divided by the interest date tells me when my money will double.
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