archive-ca.com » CA » S » SMALLBIZADVISOR.CA

Total: 446

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Succession planning for small biz, Part 1 | Small Biz Advisor
    more than half of Canada s small business owners didn t have a succession plan at all As an advisor what can you do to help Know what steps your clients should take to put a plan in place According to Brian Cohen the Canadian co lead of the Trust Estates and Wealth Preservation practice at Dentons businesses should have written succession plans and powers of attorney that work with the shareholders agreement owners wills should specify what happens to those shares when they die If shares go to someone other than a spouse Cohen notes capital gains tax may be a liability You have to plan for all contingencies he says In addition to family members succession planning advisors may include a company s management team business evaluator business broker and financial advisor At a minimum you need a solid accountant and lawyer onside Often when you re talking about smaller businesses you re talking about family run businesses he says You hear stories about shirt sleeves to shirt sleeves in three generations today you d say T shirt to T shirt and you can add any last name you want because it happens again and again The grandparents make the money and say My kids get along and they re going to take over Those children run the business but in the third generation there might be many cousins with an equal say plus their spouses Fights break out the business becomes deadlocked fails or gets sold at substantially less than it s worth simply because planning didn t take place at the front end says Cohen You always want to negotiate shareholder agreements when everyone s friendly rather than at the end when you have fights going on What can a small business owner do Jack Courtney

    Original URL path: http://www.smallbizadvisor.ca/group-retirement/succession-planning-for-small-biz-part-1-2764 (2016-04-26)
    Open archived version from archive


  • Industrial Alliance launches VRSP | Small Biz Advisor
    new plan will become mandatory for companies with five or more employees that do not currently offer all employees a group retirement plan The province would like the VRSP to be easy to set up and administer accessible and available at a reasonable cost Industrial Alliance s primary focus will be simplicity We want to ease employers administrative burden by making it quick and straightforward to set up a VRSP

    Original URL path: http://www.smallbizadvisor.ca/news/industrial-alliance-launches-vrsp-2756 (2016-04-26)
    Open archived version from archive

  • Reforming Canada’s pension system | Small Biz Advisor
    double the rates of the CPP than other Canadians do for the same amount explained Dan Kelly president and CEO of the Canadian Federation of Independent Businesses The self employed must pay both the employer share and the employee share of contributions or the full 9 9 of pensionable earnings 4 712 40 in 2013 He added that an across the board solution might not make sense for all middle income Canadians the group identified as the most at risk There may be a problem within that middle income group but we need to be very precise about it said Kelly Bill Morneau executive chairman of Morneau Shepell provided some suggestions Instead of doubling the maximum pensionable earnings to more than 100 000 as Prince Edward Island Minister of Finance Energy and Municipal Affairs Wesley Sheridan has suggested Morneau proposed an increase to 75 000 which would help a significant portion of the population save more He also believes that pooled registered pension plans PRPPs are worth considering but they shouldn t be voluntary Employers if they don t have a registered pension plan would have to put in a PRPP and it would be mandatory for employees to save

    Original URL path: http://www.smallbizadvisor.ca/news/reforming-canada%e2%80%99s-pension-system-2752 (2016-04-26)
    Open archived version from archive



  • Technology and benefits: Get engaged | Small Biz Advisor
    be done online plan members can develop strategies to manage diet cholesterol and exercise and all of this information can be accessed through mobile devices Likewise mobile record keeping can help plan members keep track of their medical appointments and even drug administration Some carriers have preferred provider apps that use GPS to locate the closest cost effective health care providers The priority is to get members involved with their plans and take responsibility for their health When plan members are provided resources to take a more active role in managing their health and work life balance as part of their group benefits you also give employers the opportunity to reduce the costs associated with workplace absences and health related claims says Mike Waechter group marketing director for Equitable Life of Canada Social media is a prime tool not only for promotion and awareness but also for establishing open dialogue among plan members sponsors and carriers For example some organizations are coordinating company wide exercise campaigns and using social media to share employees achievements Paul Crossdale an advisor with Morrow Crossdale Associates points to other areas such as employee assistance programs that are experiencing increased participation thanks to new and

    Original URL path: http://www.smallbizadvisor.ca/group-benefits/technology-and-benefits-get-engaged-2751 (2016-04-26)
    Open archived version from archive

  • Pension funds concerned over proxy voting | Small Biz Advisor
    beneficial holders receive end to end vote confirmation and the CSA commission an independent end to end operational audit of the system possibly every three years They urge the CSA to undertake an end to end review of the proxy voting infrastructure and believe this review can be facilitated by forming an advisory committee comprising the key players in the system The seven funds that responded jointly are the Alberta

    Original URL path: http://www.smallbizadvisor.ca/news/pension-funds-concerned-over-proxy-voting-2714 (2016-04-26)
    Open archived version from archive

  • 4 in 10 don’t choose retirement date | Small Biz Advisor
    these unanticipated departure dates were employer request 41 and health reasons 22 As Canadians approach their retirement planning ahead takes on added importance noted Amalia Costa head of retirement strategies successful aging with RBC Your retirement date may not be something you can control but you can shape your retirement income plan to take the unexpected into account so you are better prepared financially no matter how much time you may have before you retire The annual poll which surveys Canadians aged 50 plus also revealed that 20 of retirees had as little as one month or no advance notice before retirement while 65 said they had notice of one year or less before their retirement date Chances are two out of three retiring Canadians will have less than a year to transition into their next stage of life and they are going to have to create a new paycheque to support that next stage said Costa We advise our clients to begin refining their retirement roadmap at least five years before they expect to retire to get a clearer idea of their retirement lifestyle as well as the corresponding retirement income plan that will help them achieve it This

    Original URL path: http://www.smallbizadvisor.ca/news/4-in-10-dont-choose-retirement-date-2713 (2016-04-26)
    Open archived version from archive

  • Group Retirement | Small Biz Advisor - Part 8
    Staff and BenefitsCanada com Staff July 8 2013 When planning for retirement women are more affected by emotions and less involved in decision making Retirement confidence rising BY Staff and BenefitsCanada com Staff July 2 2013 Workers are more confident about retirement than they were last year according to a new Get Gen Y excited about saving for retirement BY Brent Delveaux TRG Group Benefits June 26 2013 When Generation Y employees are given the choice of dining out travelling the world or Are you prepared for the coming drug cost challenges BY Staff June 18 2013 While some small plans are feeling a little cost relief lately thanks to the easing Court upholds DPSP pre retirement locking in BY Sheryl Smolkin lawyer and journalist May 8 2013 Thanks to some creative plan design the Ontario Court of Justice has recently upheld the Ripe for the picking BY Advisor For Business Insights from Standard Life May 7 2013 Download PDF version Time and again research shows a large majority of employees want financial Ontario proposes PRPP in 2013 budget BY Benefits Canada Staff May 3 2013 The 2013 Ontario budget proposes introducing pooled registered pension plans PRPPs in the province

    Original URL path: http://www.smallbizadvisor.ca/group-retirement/page/8 (2016-04-26)
    Open archived version from archive

  • Contribution levels play larger role for DC plan members | Small Biz Advisor
    pay attention to their CAP investment choices and whether a particular investment strategy is suited to their needs says Janice Holman a principal with Eckler But the numbers show that other factors including contribution levels have a bigger and more predictable impact on replacement income over time The CAPit shows how four different investment strategies conservative balanced aggressive and lifecycle would impact a member s replacement income ratio While each strategy dipped and recovered to different degrees from 2006 to 2013 they all resulted in the member s replacement income ratio ending at roughly 62 on Sept 30 2013 CAPit tracks a member who is assumed to have made annual contributions of 10 of income starting at age 40 If the member had made annual contributions of 8 the replacement income ratio at the end of September would be 10 percentage points lower By increasing the contribution to 12 the ratio would be about 10 percentage points higher It is vital for plan sponsors to ensure members are contributing to a CAP at an appropriate level either on their own or with the benefit of a company match adds Holman Plan oversight should include closer scrutiny of those things members

    Original URL path: http://www.smallbizadvisor.ca/news/contribution-levels-play-larger-role-for-dc-plan-members-2693 (2016-04-26)
    Open archived version from archive



  •