What will you live on when you are retired? Will it be enough? What Can you do about it? We’ll try to answer those questions in a three-part series. There are three main sources of retirement income in Canada: Public Benefits: Old Age Security, Guaranteed Income Supplement, Canada/Quebec Pension Plan Workplace Pensions Personal Savings (including RRSPs) Let’s start with the Public Benefits: a) Old Age Security (OAS) This
A. PENSIONS: 1. OLD AGE SECURITY BENEFIT (Monthly, at age 65, January/2015) $564.87 -adjusted quarterly OAS/GIS can be deferred up to 5 years (to age 70), with an increase of 0.6% for each month of deferral 2. CANADA/QUEBEC PENSION PLAN (2015) * Maximum Monthly Retirement Benefit at age 65 $1,065.00 [Reduction of 0.58%(CPP)/0.56%(QPP)per month for retirement 60-64; Increase of 0.70% per month for retirement 65-70]
Thursday December 4, 2014 For Immediate Release Toronto, ON – The International Association of Machinists and Aerospace Workers – IAM has filed for Common Employer Status with the Canada Industrial Relations Board. “We are being proactive and getting in front of this pending problem,” said IAM Transportation District 140 President and General Chairperson Fred Hospes. The Airline Consortium into plane ramp fueling and tank farm Operator
November 25, 2014 Today is the United Nations International Day for the Elimination of Violence against Women, which kicks off 16 Days of Activism against Gender-Based Violence. The IAM thinks there is a need for our parliamentarians to get involved, the issue should be Up for Debate! Following the launch of the Up For Debate campaign, two federal party leaders came out publically in support of
November 25, 2014 For Immediate Release Today is the United Nations International Day for the Elimination of Violence against Women, which kicks off 16 Days of Activism against Gender-Based Violence. The IAM thinks there is a need for our parliamentarians to get involved, the issue should be Up for Debate! Following the launch of the Up For Debate campaign, two federal party leaders came out
Thursday November 20, 2014 For Immediate Release Stratford, ON – Members of IAM Local Lodge 103 have ratified a new collective agreement with Cedarcroft Retirement Home in the festival city. “None of this would have been possible without the tremendous efforts of the negotiating team of Heather Stewart and Patricia Buuck,” said IAM District Lodge 78 Business Representative Kim Valliere. The three-year agreement provides for a
Wednesday November 19, 2014 For Immediate Release Nanaimo, BC – Members of IAM Local Lodge 456 have a new two-year agreement with Canadian Tire. It is the only unionized auto service department at Canadian Tire. The agreement provides wage increases of 2 per cent in each year. “For the first time, training apprentices and language for training wages is included in the new agreement,” explained
Wednesday November 19, 2014 For Immediate Release Duncan, BC – Members of IAM Local Lodge 692 have ratified a new collective agreement with Pro Mac Manufacturing. The members are traditionally the highest paid on Vancouver Island and this agreement maintains that distinction. The agreement provides wage increases of 3 per cent the first year, 2.5 per cent the second year and 2 per cent in the
Wednesday November 19, 2014 For Immediate Release Victoria, BC – A strike mandate of 87 per cent by members of IAM Local Lodge 456 gave impetus to a new collective agreement with Wheaton Chevrolet. “It took six months of bargaining and talks bogged down in September over the issue of bumping but the strike mandate had the desired effect,” explained IAM District Lodge 250 Business Representative
Wednesday November 19, 2014 For Immediate Release London, UK – The Civil Aviation section of the International Transportation Workers Federation (ITF) has appointed IAM Canadian Airline Coordinator Carlos DaCosta, as Coordinator of its MRO Committee. The appointment was made at a recent ITF Civil Aviation conference. “The ITF needed someone with a maintenance background and was familiar with the ITF, to coordinate their Maintenance Repair and
