Title slide, Welcome to your Canada Post Corporation retirement program.
Agenda: Sources of retirement income, Your retirement program, Advantages of saving at work, Your investment options, Tools and support.
Next slide, Retirement income.
Government benefits, 2021 monthly benefit at age 65. Old Age Security (O.A.S.), $615, Basic benefit effective January 1 2021 (reviewed quarterly and revised as required to reflect cost of living); Canada Pension Plan (C.P.P.), $1,204, or, Quebec Pension Plan (Q.P.P.), $1,208, Basic effective January 1, 2021 (indexed annually); Potential monthly total, $1,819 to $1,823; O.A.S. pension repayment range in 2021 is from $79,054 to $128,149.
Next slide, Personal savings.
Your Canada Post Retirement Program.
Defined Contribution Pension Plan
Defined contribution (D.C.) - the amount of the contributions are known. The benefit from the plan is a combination of the contributions and the earnings.
Your Defined Contribution Pension Plan. Three boldened parts titled, Eligibility, What does Canada Post contribute, What do you contribute?
Under What do you contribute, Defaults at 4%.
Next slide, Defined Contribution Pension Plan, Contribution formula at a glance. Table with four columns and three rows. Three rows labeled Age + years of service, and columns with headers, Employer Base contributions, Optional Plan Member contributions, Employer Matching contributions, and Total. Less than 35, 2%, 4%, and 3%; Between 35 and 45, 2%, 4%, and 4%; 45 or more, 2%, 4%, 5%.
Your Voluntary Savings Plan.
Advantages of your retirement program
The power of a group plan. Start early, grow more, Easier way to save money, Reduce taxes, Pay yourself first, Diversified Fund line-up, Frequent systematic contributions, Increase contributions when you can, Maximize employer contributions, Take advantage of reduced investment management fees.
Benefit from payroll deduction, For example, $100 contribution minus $30 tax deduction, $70 your cost. Fine print, Based on a 30 per cent personal income tax rate, federal and provincial rates combined, Your personal income tax rate will change the size of your tax deduction and your cost of contribution.
Low investment management fees make all the difference. Two lines on a graph, one C.P.C. and the other Bank. C.P.C. line runs above Bank line.
Pre-authorized contributions make saving easy.
Choose your comfort with investing. Hands-off approach, BlackRock LifePath Target Date funds.
How a BlackRock LifePath Fund works. Graph titled Asset mix of BlackRock LifePath Funds, with Percentage equity to fixed income on y axis and Years to retirement on x axis. A line begins at the top at High risk and slopes downward to Low risk. Fine print, For illustration purposes only, the above chart illustrates the approximate percentages of holdings, Actual asset percentages will vary.
Easy to select a target date fund. Two-column table, Consider when you'd like to retire, and Choose your target date fund.
Build your own portfolio, three steps.
Your fund lineup
Support each step of the way
Make it personal, Connect with a member guide who can help you. can life dot co slash welcome
Text, Thank you