Search found 5106 matches

by brucecohen
18 May 2017 16:29
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

By my estimates, I won't get any PAR - assuming I understand the logic of PA/CV correctly. I have been with the company since 2004; the combined maximum RRSP room for 2004-2016 comes to about $270K. The CV is >2 times that and over 60% of CV is in LIRA. Its just that I am not 100% certain in my est...
by brucecohen
18 May 2017 13:08
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

Bruce, would you mind casting an eye over the following response I received from the company: If a PAR is required, that will be determined only after you have received the full payment due to you, i.e. after you have received all the instalment payments. A PAR is only necessary if the commuted val...
by brucecohen
17 May 2017 09:11
Forum: Financial Planning and Building Portfolios
Topic: Electric Vehicles (EV's) and their impact on Canadian energy companies?
Replies: 14
Views: 338

Re: Electric Vehicles (EV's) and their impact on Canadian energy companies?

I dream of buying a self-drive electric, but the 8-year timeline is nonsense. For starters, EV market development depends heavily on tax credits in the US and, as reported here , Republican administrations at both the federal and state level are in process of reducing or ending them. Second, trucks ...
by brucecohen
08 May 2017 08:46
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

Mordko wrote:
07 May 2017 19:54
I was given the Commuted Value, but not the PAR. Sounds like I was mislead on the timing of informing me what the PAR is going to be, so I will follow up - thanks.
Here is CRA's PAR guide for employers. Section 7 covers reporting deadlines.
by brucecohen
07 May 2017 19:15
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

Yes it is a Defined Benefit Plan. A very generous one with lots of benefits. And a private company. And open to new young hires. I left in 2017 and was told that PAR will be calculated once the commuted value is transferred (that will take 5 years), however should expect "no PAR" because there has ...
by brucecohen
07 May 2017 11:50
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

Hmm... I received no PAR, having quit at 47. Apparently there are never any PARs with the pension scheme which I quit - at least thats what I was told by HR. You use the term "pension scheme." Was it really a DB plan. If you left a DB RPP before 1997 there was no PAR. If you left after 1996 the onl...
by brucecohen
06 May 2017 14:44
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

Not sure a person in his 30s is particularly "lucky" to have a DB pension. Someone in his 50s - very much so. If both accrue the same service and have the same earnings base their pension will be equal. The difference is that DB funding for a person in his 30s is much lower because there's so much ...
by brucecohen
06 May 2017 14:22
Forum: Retirement, Pensions and Peace of Mind
Topic: DB to DB Transfer (HOOPP/OMERS)
Replies: 34
Views: 591

Re: DB to DB Transfer (HOOPP/OMERS)

There is no "surplus", it's a different set of actuarial guesses. HOOPP actuaries are less optimistic overall than the OMERS actuaries, and they think it will cost them more to keep the promise of paying you $x in retirement. It's not as if the contributions from you and your previous employer have...
by brucecohen
04 May 2017 16:03
Forum: Financial News, Policy and Economics
Topic: Which Broker Do you Use?
Replies: 103
Views: 3232

Re: Which Broker Do you Use?

Does BMOIL carry Mawer Balanced Fund (MAW104) . If so, what fee(s) does BMOIL charge on this?
by brucecohen
18 Apr 2017 13:20
Forum: Retirement, Pensions and Peace of Mind
Topic: strategy to withdraw RRSP after leaving the country
Replies: 13
Views: 7444

Re: strategy to withdraw RRSP after leaving the country

Depending on your age, it may make more sense to convert your RSP to a RIF and take payments. These are classified as periodic payments and normally taxed at 15% by Canada for non- residents. Check the rules if you do this as there are, or at least there were, maximums you could set the periodic pa...
by brucecohen
13 Apr 2017 09:17
Forum: Retirement, Pensions and Peace of Mind
Topic: Should I take commuted value or deferred pension
Replies: 28
Views: 937

Re: Should I take commuted value or deferred pension

How come? It seems like the chances of a broad index of equities failing to keep up with inflation over a long period of time would have to be fairly small. For that not to be the case, wouldn't we have to see earnings failing to keep up with inflation as well? Just wondering what I am missing. Fro...
by brucecohen
12 Apr 2017 15:30
Forum: Retirement, Pensions and Peace of Mind
Topic: Should I take commuted value or deferred pension
Replies: 28
Views: 937

Re: Should I take commuted value or deferred pension

(c) Equities are volatile, and there is a positive chance of losing money, even over a thirty-year horizon. The chance is vanishingly small, but it is non-zero. Some fixate on that chance anyway. The chance of equities losing money after inflation , over a thirty year horizon, is not vanishingly sm...
by brucecohen
10 Apr 2017 22:06
Forum: Retirement, Pensions and Peace of Mind
Topic: Should I take commuted value or deferred pension
Replies: 28
Views: 937

Re: Should I take commuted value or deferred pension

1. CPP has no access to a person's RPP records and thus no knowledge of how much he/she gets or will get. 2. The RPP has no access to a person's CPP records and thus no knowledge of how much he/she gets or will get. 3. Integration is an arbitrary calculation adopted by the RPP sponsor as a rough jus...
by brucecohen
07 Apr 2017 10:05
Forum: Retirement, Pensions and Peace of Mind
Topic: Should I take commuted value or deferred pension
Replies: 28
Views: 937

Re: Should I take commuted value or deferred pension

HOOPP and OMERS are both excellent plans. Though not automatically indexed, HOOPP has a very good record of keeping its benefits in line with inflation. I think OMERS is automatically inflation-indexed. If OMERS will grant full credit, transferring your HOOPP accrual would most likely be a good idea...
by brucecohen
06 Apr 2017 09:08
Forum: Financial News, Policy and Economics
Topic: Which Broker Do you Use?
Replies: 103
Views: 3232

Re: Which Broker Do you Use?

Shakespeare wrote:
05 Apr 2017 22:34
Just filled in the transfer for my RRSP. :mrgreen:
If I move an unregistered account is the $1,000 taxable?

What about transfer-out fees? Does BMOIL cover them or is that just part of the bribe?
by brucecohen
04 Apr 2017 15:45
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 50
Views: 1872

Re: Financially uninterested spouse inheriting stock portfolio

I think if I can make it for another 10 years, I can get the portfolio into the model suggested by AR and then just have to document rules for rebalancing. Before you check out try a test run in which your wife is fully responsible for rebalancing over a year or two. Based on my experience, don't b...
by brucecohen
02 Apr 2017 13:46
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 50
Views: 1872

Re: Financially uninterested spouse inheriting stock portfolio

I've been involved in three such cases over the past 10 years. The husband's carefully structured plan quickly went awry. Widows who have no interest in, and knowledge of, investing quickly throw up their hands and also become easy marks. One woman was left a seemingly idiot-proof couch potato portf...
by brucecohen
28 Mar 2017 11:24
Forum: Taxing Situations
Topic: Sold HISA, got T5008
Replies: 6
Views: 356

Sold HISA, got T5008

TDDI has generated a T5008 for two HISA (TDB8150) redemptions I did in 2016. Was that because their system treats it as a mutual fund? The T5008 shows redemption amounts as proceeds in box 21 but the cost field -- box 20 -- was left blank. For now I'll enter the amounts shown and make the box 20 cos...
by brucecohen
23 Mar 2017 09:46
Forum: Financial Planning and Building Portfolios
Topic: Life Settlement services inquiry
Replies: 5
Views: 259

Re: Life Settlement services inquiry

the process is strictly illegal in Canada. Not entirely. The Canadian term is viatical settlement and sales are allowed in Quebec, New Brunswick and Saskatchewan. Maybe Nova Scotia too. Here is one article. Here is another. Here is a 2014 article about Ontario's position with a link to a paper. Man...
by brucecohen
20 Mar 2017 19:47
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 170
Views: 14320

Re: Any questions about CPP?

Yasehtor wrote:
20 Mar 2017 19:31
So.. can we just get an affidavit signed saying we are married and send it to CRA?
Essentially yes. You and your spouse complete the Statutory Declaration of Legal Marriage, get it notarized and send it to Service Canada.
by brucecohen
07 Mar 2017 13:52
Forum: Financial News, Policy and Economics
Topic: Historic Stock Market Levels
Replies: 34
Views: 823

Re: Historic Stock Market Levels

I am interested in why an individual would stick to a buy and hold portfolio Because deviating from that requires getting two timing decisions right: -- When to sell -- When to buy back in It's very hard to get both right. And, from personal experience, I can tell you that psychologically the secon...
by brucecohen
28 Feb 2017 20:21
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: ETFs vs. Mutual Funds
Replies: 14
Views: 553

Re: ETFs vs. Mutual Funds

lack of insurance if money lost to due hacking of my account Your brokerage account is covered by CIPF regardless of whether it holds ETFs or mutfunds. bid-ask spreads Do you really do enough trading that often to worry about this? And the impact of the spread might well be offset by the risk of ha...
by brucecohen
28 Feb 2017 20:00
Forum: Financial Planning and Building Portfolios
Topic: Norbert's gambit - Can$ to US$ or vice versa
Replies: 1201
Views: 163177

Re: Norbert's gambit - Can$ to US$ or vice versa

If the buy process has occurred on the same day as the sell, both the CAD and the USD sides would be ex-dividend. Yes, but my buy and sells occurred on different days because 1) I don't trust TDDI to journal properly and 2) I don't know if TDDI or any other broker will let an RRSP sell a stock not ...
by brucecohen
28 Feb 2017 19:53
Forum: Financial Planning and Building Portfolios
Topic: Norbert's gambit - Can$ to US$ or vice versa
Replies: 1201
Views: 163177

Re: Norbert's gambit - Can$ to US$ or vice versa

The same effect would (might) occur when buying and selling any stock across its ex-dividend date. Efficient market theory says it's a zero net-sum game, with a profit potential if the price of the stock drops by less than the dividend, but a loss if it drops by more. That's what I thought before t...
by brucecohen
28 Feb 2017 17:09
Forum: Financial Planning and Building Portfolios
Topic: Norbert's gambit - Can$ to US$ or vice versa
Replies: 1201
Views: 163177

Re: Norbert's gambit - Can$ to US$ or vice versa

I determined the NG rate by dividing the C$ cost of RY on the TSE divided by the US$ that wound up in the RRSP's US$ subaccount. The dividend received last week increased the amount of US$ resulting from the gambit. IOW I got more US$ for my C$ outlay.