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Debt retirement |
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Debt retirementThe complete repayment of debt. See: Sinking fund.Debt retirement Similar MatchesRetirementRetirementRemoval from circulation of stock or bonds that have been reacquired or redeemed. Registered Retirement Savings Plan (RRSP)Registered Retirement Savings Plan (RRSP)Tax-sheltered retirement plan for Canadian citizens, much like an American IRA. Normal retirement ageNormal retirement ageThe age at which an individual normally retires (60 to 70 for men and 55 to 70 for women). Men qualify for the state pension at 65 and women currently qualify at 60. However the qualifying normal retirement age for women will be increasing depending on their date of birth, the scale applying for those born after 6th April 1950. For personal pension plans individuals may take retirement between the ages of 50 and 75 and for retirement annuities between the ages of 60 and 75. Bonds Enabling Annual Retirement Savings (BEARS)Bonds Enabling Annual Retirement Savings (BEARS)Holders of BEARS receive the face value of bonds underlying call option, which are exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEARS holders receive the total of the exercise price. Individual retirement accountIndividual retirement accountIn the US, a tax-deferred retirement savings account which may be set up by people in employment. IRA contributions are tax deductible irrespective of income if neither spouse is a member of a qualified plan or trust. A person who is a member of a qualified plan may still deduct IRA contributions providing adjusted gross income is below a certain level. Although savings grow tax free over the term of the plan, when pension benefits are taken, they will be liable to tax. Further Suggestionsretirement annuity contract (RAC)retirement relief normal retirement date Normal retirement unfunded unapproved retirement benefits scheme Employee Retirement Income Security Act (ERISA) Employee Retirement Income Security Act phased retirement Individual Retirement Account (IRA) early retirement Tax deferred retirement plans IRA (individual Retirement Account) Retirement Protection Act of 1994 |
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