Seniority List employees thinking about the "Voluntary Resignation with SeverancePayment" option as per our new Collective Agreement may be interested in
Revenue Canada's Guide T4040, "RRSPs and Other Registered Plans for Retirement"
- available here in Adobe format.
See - Chapter 5, beginning on page 22 and the chart, which follows.
An Income Tax consultant/accountant may be able to assist you in determining the amount, in addition to the amount listed on your annual RRSP Deduction Limit Statement, that you may be able to transfer directly into a RPP or RRSP.
You can contact Sun Life to get information about continuing coverage for various benefits. As current plan members, Sun Life offers conversions to individual plans. Those employees who are 55 years of age or older have the alternative of "Early Retirement" where some benefits are continued until age 65 at WEG ‘s expense.
Making the right choices for you and your family will require careful consideration of all the options and their implications.
