Investments

RESP

A Registered Education Savings Plan (RESP) is one of the easiest and best ways to fund the future ambitions of your child. It is designed to help you save money for the post-secondary education of a child or other beneficiary. The money is invested in professionally-managed portfolios whose asset mix evolves to reflect your time horizon. RESP contributions are not tax-deductible but they do allow savings to compound and grow tax-free until the child is ready for full-time college, university, or another post-secondary educational institution.

TFSA

A Tax-Free Savings Account (TFSA) is a flexible new method for saving money. Its main benefits are tax-free growth, tax-free withdrawals, the ability to put back any amounts you withdraw, and income splitting.

RRSP

A Registered Retirement Savings Plan (RRSP) is a personal savings plan registered with the federal government allowing you to save for the future on a tax-sheltered basis. Your money is invested in a variety of investment products including RRSP savings deposits, T-bills, GIC's, mutual funds, bonds, and stocks. The contributions are tax-deductible.

Wealth Management & Government Benefits

Canada Pension Plan

The Canada Pension Plan is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and his or her family against the loss of income due to retirement, disability and death

Website link to the following information: http://www.sdc.gc.ca/en/isp/pub/factsheets/rates.shtml

Canada Pension Plan payments are automatically deposited into bank accounts in Canada and the United States according to the payment date schedule. Canada Pension Plan rates are adjusted every January if there are increases in the cost of living as measured by the Consumer Price Index.

Old Age Security

The Old Age Security program is one of the cornerstones of Canada's retirement income system. Benefits include the basic Old Age Security pension, the Guaranteed Income Supplement and the Allowance.

Links:

Income Security Program Information Card (Rate Card)
OAS and CPP – Payment Dates for 2008
Following information

The links show the maximum and average monthly rates for Old Age Security (OAS), Guaranteed Income Supplement and the Allowance, as well as the maximum annual income to be eligible for these benefits

For detailed monthly rates, please refer to the Tables of Rates for Old Age Security, Guaranteed Income Supplement and the Allowance.

Old Age Security benefit rates are reviewed in January, April, July and October to reflect increases in the cost of living as measured by the Consumer Price Index.

The term "spouse" includes a common-law partner.

Pensioners are not eligible for benefits if their income, or the combined income of them and their spouse, is more than the maximum income shown on the chart.

The Allowance stops being paid at $28,176 while the GIS stops being paid at $36,528.

Canada Child Tax Benefit

The Canada Child Tax Benefit is a tax-free monthly payment made to eligible families to help them with the cost of raising children under age 18. The CCTB may include the National Child Benefit Supplement (NCBS), a monthly benefit for low-income families with children, and the Child Disability Benefit (CDB), a monthly benefit providing financial assistance for qualified families caring for children with severe and prolonged mental or physical impairments.

Link: Canada Child Tax Benefit payment