Key takeaways: Pension de-risking is a strategy that aims to reduce the financial risk and volatility associated with pension plans. Pension de-risking methods include liability-driven investment (LDI), buyouts and buy-ins, and risk transfer. The benefits of pension de-risking include reducing financial risk and volatility, enhancing sponsor creditworthiness, and improving employee confidence and satisfaction; however, there…
Key Takeaway: Canada Pension is paid on a monthly basis, and the payment dates depend on the recipient’s birth date. There are different payment methods available for Canada Pension beneficiaries, including direct deposit, cheque, or prepaid credit card. To be eligible for Canada Pension, individuals must meet age and contribution requirements, which vary depending on…
Key Takeaway: To obtain a pension award letter, contact the Pension Office, either by phone or in writing. When requesting the letter, be sure to provide all necessary information and documentation, such as your full name and Social Security number. Review the award letter carefully upon receipt, checking for accuracy in terms of payment amounts…
Key Takeaway: There are two main types of pension plans: defined benefit and defined contribution. Defined benefit plans offer a guaranteed payout based on a formula including factors like salary and length of service. Defined contribution plans are based on contributions from the individual and their employer, and the payout depends on the performance of…
Key takeaways: Consider financial needs: When deciding when to take Canada Pension Plan benefits, it’s important to consider your current financial situation. If you need the money to cover living expenses, taking benefits early with a reduction may be necessary. Take health status into account: Another important factor is your health status. If you have…
Key Takeaway: EY offers two types of pension plans, the Defined Benefit Plan and the Defined Contribution Plan. The Defined Benefit Plan offers a fixed retirement benefit based on years of service and compensation, while the Defined Contribution Plan allows employees to contribute a percentage of their salary and offers a company match. To enroll…
Key Takeaway: Guaranteed Pension Credits are additional credits that can boost your Social Security retirement benefits and provide a secure retirement income. To be eligible for Guaranteed Pension Credits, you must meet age and residency requirements and have made adequate contributions to a pension plan. You can check your Guaranteed Pension Credit status by using…
Key Takeaway: Understanding FERS pension: Federal Employee Retirement System (FERS) is a retirement plan for federal employees, which includes a defined benefit pension plan, a thrift savings plan, and social security benefits. How FERS pension benefits are calculated: The FERS pension benefits are calculated based on the employee’s average high-3 salary, years of creditable service,…
Key Takeaway: A lifetime pension is a type of retirement income that provides regular payments to an individual for the rest of their life. Lifetime pensions come in various forms, including defined benefit pension plans, social security retirement benefits, and annuities. The advantages of a lifetime pension include financial security, protection against market fluctuations, no…
Key Takeaway: India offers various options for pension funds, including the National Pension Scheme (NPS), Employee Provident Fund (EPF), Atal Pension Yojana (APY), and Public Provident Fund (PPF). When choosing the best pension fund option in India, important factors to consider include investment portfolio and returns, charges and fees, flexibility in contributions and withdrawals, and…
Key Takeaway: A qualifying year for UK state pension is a year of contributions towards National Insurance or certain credits that count towards state pensions. To earn a qualifying year, an individual needs to earn a minimum amount of money or receive qualifying credits. The number of qualifying years needed for UK state pension depends…
Key Takeaway: MLB pension calculation is based on several factors, including the length of service with MLB, the average salary of the player, the time of service before and after 1980, and the type of pension plan (traditional or defined benefit). The formula for calculating a traditional pension plan involves multiplying the player’s years of…