pension

Fired long-term employee gets $65,000 bridge to unreduced pension

Fired long-term employee gets $65,000 bridge to unreduced pension

The Ontario Superior Court of Justice recently awarded a 53 year-old employee fired after 31 years of service damages for wrongful dismissal plus $65,000 because he was less than 17 months away from an unreduced pension at the time of his termination. He also got $30,000 to replace the retiring allowance he lost. Matthew Arnone was employed by Best Theatronics Limited, a manufacturer of nuclear me... »

Pension or lump sum?

Pension or lump sum?

   You are leaving your current employer before the earliest date you can retire. You are not sure what to do with the money in your defined benefit (DB) pension plan. You can either leave the money in the plan and collect a pension later on, or transfer a lump sum representing the present value of your pension to a locked-in retirement account. Here are some factors that will influence your ... »