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Retirement Protection Act of 1994 |
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Retirement Protection Act of 1994Legislation designed to protect the pension benefits of workers and retirees by increasing required support of pension plans by employers.Retirement Protection Act of 1994 Similar MatchesDebt retirementDebt retirementThe complete repayment of debt. See: Sinking fund. Registered Retirement Savings Plan (RRSP)Registered Retirement Savings Plan (RRSP)Tax-sheltered retirement plan for Canadian citizens, much like an American IRA. IRA (individual Retirement Account)IRA (individual Retirement Account)Savings programs available to individuals. The plans allow for a certain amount to be deposited each year. This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket. During the life of the account, the money may be put into various interest bearing investments. Securities dealers as well as banking institutions now offer IRA'S. RetirementRetirementRemoval from circulation of stock or bonds that have been reacquired or redeemed. 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. Further SuggestionsBonds Enabling Annual Retirement Savings (BEARS)Employee Retirement Income Security Act retirement annuity contract (RAC) normal retirement date individual retirement account Employee Retirement Income Security Act (ERISA) Normal retirement phased retirement Tax deferred retirement plans early retirement Individual Retirement Account (IRA) unfunded unapproved retirement benefits scheme retirement relief |
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