If you’re an active member in a defined benefit pension plan, such as the one offered by HOOPP (Healthcare of Ontario Pension Plan), pretty soon it will be that time of a year when you receive your annual pension statement of benefits. Your annual statement is like a snapshot of your pension benefits. It shows […]

There are two main types of pension plans in the workplace today: defined benefit (DB) and defined contribution (DC). DB is the cream of the crop for workplace pension plans. DB pension plans guarantee workers a set amount of income in retirement based on a pension formula. DC pension plans on the other hand only […]