pension/benefits
Oct 31st 2013, 5:40 am
#31
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,686
Re: pension/benefits
based on a comment you made in a post above "crash, crash, crash' - 'what if' your property went to negative equity, then what back up plan would you have or maybe your suggestion for others that may be in that house price crash situationt?
Ball gazing ... Do you think the house price crash in Vancouver will come soon, if so, how soon & by what percentage will it crash?
Oct 31st 2013, 5:43 am
#32
slanderer of the innocent
Joined: Dec 2008
Location: Vancouver, BC
Posts: 6,695
Re: pension/benefits
Oh I don't know. I have no idea really, nor does anyone else.
Being in negative equity would suck, but life goes on. I have friends in the US in this position and they just continue living their lives. The nice thing is no landlord can evict me from my home and we love where we live.
Being in negative equity would suck, but life goes on. I have friends in the US in this position and they just continue living their lives. The nice thing is no landlord can evict me from my home and we love where we live.
Oct 31st 2013, 5:46 am
#33
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,686
Re: pension/benefits
Maybe the OP has some further questions as to what is high, low or the right time to buy?
Oct 31st 2013, 5:51 am
#34
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,686
Re: pension/benefits
now is the time to buy in Vancouver ....
c&p'd
The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,500. This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013.
Sales of detached properties reached 1,052 in August 2013, an increase of 69 per cent from the 624 detached sales recorded in August 2012, and a 3.1 per cent increase from the 1,020 units sold in August 2011. The benchmark price for detached properties decreased 2 per cent from August 2012 to $923,700.
Sales of apartment properties reached 1,018 in August 2013, an increase of 40.4 per cent compared to the 725 sales in August 2012, and an increase of 6.6 per cent compared to the 955 sales in August 2011. The benchmark price of an apartment property decreased 1.1 per cent from August 2012 to $366,100.
Attached property sales in August 2013 totalled 444, an increase of 48 per cent compared to the 300 sales in August 2012, and a 10.2 per cent increase from the 403 attached properties sold in August 2011. The benchmark price of an attached unit decreased 1.1 per cent between August 2012 and 2013 to $457,000.
c&p'd
The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,500. This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013.
Sales of detached properties reached 1,052 in August 2013, an increase of 69 per cent from the 624 detached sales recorded in August 2012, and a 3.1 per cent increase from the 1,020 units sold in August 2011. The benchmark price for detached properties decreased 2 per cent from August 2012 to $923,700.
Sales of apartment properties reached 1,018 in August 2013, an increase of 40.4 per cent compared to the 725 sales in August 2012, and an increase of 6.6 per cent compared to the 955 sales in August 2011. The benchmark price of an apartment property decreased 1.1 per cent from August 2012 to $366,100.
Attached property sales in August 2013 totalled 444, an increase of 48 per cent compared to the 300 sales in August 2012, and a 10.2 per cent increase from the 403 attached properties sold in August 2011. The benchmark price of an attached unit decreased 1.1 per cent between August 2012 and 2013 to $457,000.
Oct 31st 2013, 6:00 am
#35
Banned
Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: pension/benefits
Hi, thanks for your reply, yes we knew about the UK state pension, just needed to know about her small accumulation of teachers pension contributions. She received her first pay slip the other day, but we are not sure what some of the deductions are for. We were hoping that here in Manitoba she would have a teachers pension that we could transfer her UK teachers contributions into? Below is some of the abbreviations on her pay slip
MTS LOCAL DUES 14.80- 14.80- Manitoba Teachers' Society Union Dues, local
BLUE CROSS FAM 103.40- 103.40- (Self explanatory)
CPP 274.10- 274.10- Canada Pension Plan
INCOME TAX 2,174.93- 2,174.93- (Self explanatory)
LIFE 200% 7.41- 7.41-(Self explanatory)
DISABILITY BEN 76.05- 76.05-(Self explanatory)
MTS PROVINCIAL 73.50- 73.50- Manitoba Teachers' Society Union Dues, Provincial
SHORT TERM DIS 10.50- 10.50-(Self explanatory)
TRAF 454.52- 454.52- Teachers Retirement Allowance Fund (Pension)
EI 109.45- 109.45- - Employment Insurance
MTS LOCAL DUES 14.80- 14.80- Manitoba Teachers' Society Union Dues, local
BLUE CROSS FAM 103.40- 103.40- (Self explanatory)
CPP 274.10- 274.10- Canada Pension Plan
INCOME TAX 2,174.93- 2,174.93- (Self explanatory)
LIFE 200% 7.41- 7.41-(Self explanatory)
DISABILITY BEN 76.05- 76.05-(Self explanatory)
MTS PROVINCIAL 73.50- 73.50- Manitoba Teachers' Society Union Dues, Provincial
SHORT TERM DIS 10.50- 10.50-(Self explanatory)
TRAF 454.52- 454.52- Teachers Retirement Allowance Fund (Pension)
EI 109.45- 109.45- - Employment Insurance
http://www.traf.mb.ca/your-pension/a...-contributions
She can transfer her pension into a QROPS approved RRSP.
Oct 31st 2013, 6:13 am
#36
slanderer of the innocent
Joined: Dec 2008
Location: Vancouver, BC
Posts: 6,695
Oct 31st 2013, 6:24 am
#37
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,686
Re: pension/benefits
great
In tying to help the OP with the question on house prices, lets kick in mortgages.
Would you consider the following rates (approx 4.39%) for 10- year mortgages to be good, bad or indifferent?
http://www.ratehub.ca/best-vancouver.../10-year/fixed
In tying to help the OP with the question on house prices, lets kick in mortgages.
Would you consider the following rates (approx 4.39%) for 10- year mortgages to be good, bad or indifferent?
http://www.ratehub.ca/best-vancouver.../10-year/fixed
Oct 31st 2013, 6:38 am
#38
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,688
Re: pension/benefits
Until last year the qualification period was specifically 10 years between the ages of 18 and 65. I notice the wording of the amended Act has changed and now says that to be entitled to a proportion of OAS you must live in Canada for 10 years after the age of 18 before applying. Also, a pensioner can now choose to defer collecting their OAS for up to five years in return for a larger pension.
Unfortunately, I can't see anything that directly answers your question. i.e. what happens if you wait till 72 to apply. If I find out I will let you know, but it might be better to write to Service Canada directly and ask them.
