WTK-different pension plans (UTC,RBC,RBL,Sco,Sagi,Maritime)

[rishi18]

Hello,

Did a search about pensions on tuner, asked alot of coworkers, family... got some interesting info but just wanna get more wrt to pension plans. kinda confusing to me prob cuz im young and it not dat pressing. plus havent spoken with any respective agent as yet, other than reading their respective online brochures.

So Far my main concern ( i have a few) is this UTC Universal Retirement Fund no tax business compared to everyone else that has tax deductable $30,000... if its it is so why people not goin with them and are with REAP by Maritime or TISP, the terminology new to me since I just began my career and know little about tax and investment other than personal investigation and reading.... and watching wolf of wall street..lol

Im sure this topic would help people who are in a similar situation... thanks honestly in advance for the advice. bless

[honda eater]

buy a registered pension plan,banks cannot pay out a monthy pension upon maturity how ever you will get the tax break as with all other registered pension plans. Monthly charges! all companies have them with the exception of the REAP plan from Maritime, 100% of your premium goes into the fund. Sagicor has a small charge but not as much as Guardian.Some advise, start as soon as you start working!

[trinigamer]

viewtopic.php?f=4&t=490461

[FORDRACING]

Aside from all mentioned above, banks for example cannot offer what we call in the industry waiver of premium. This means god forbid you become disabled the company would waive your premium until maturity. Banks cannot offer this very important benefit. Just a point to note.