16 — Wednesday, September 1, 1999 — North Shore News Apply now on-line for a low cost ‘HOME EQUITY MORTGAGE, UID 687-2020 _ Lender Broker fees may apply SHOULD you buy back pension credits? Or leave your pension with an employer when you change jobs? You might work for an employer before you decide to join the pension plan. Or you take a temporary leave and so again are our of the plan for a while. When this happeus, the employer sometimes offers you a chance to buy back the missing pension credits to earn a higher pension when you retire. Should vou take the offer? First, calculate how much extra income you will get for putting the buyback amount in the pension. Then com- pare that with what other investment options will pro- duce. Second, will you stay with 25 years’ experience in investment, retirement and estate planning Ask us about: => RRSPs, RRIFs, LIFs > Self-Directed Pians => RESP Programs > Mutual Funds/Seg Funds © Managed Fortfolios = Private Wealth Management ‘GIC Rates, GICs, RSPs, RiFs, LIFs [So55" [5.55"] [S.76"| Sas" [e4 [Pie] Eee | Ete | Eom | (Cee | “Rates subject to change without notice. Bi & Representing a wide array of financial institutions § Member: Fed of Cdn Indep Deposit Brokers S200 /A\P 1205-675 W. Hastings St. Vancouver GBB-9577 ky jevesimosis ins. 401-100 Park Royal S. West Yanc 925-3101 - Building better retirement incomes since 1974 ea From page 18 the world followed the lead of the Federal Reserve and began trimming rates. Three swift cuts to U.3, interest rates made before year’s end were mirrored by central bankers around the globe, resulting in an amazin; 162 interest-rate cuts world wide. 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The next time you need computer expertise, call On Track. They handle Service, Sales, Support and Setup; they love what they are doing and they do it well. On Track - because you should be using your computer, not fixing it. ’ Mention this ad and receive $50 toward your first service: SALES & CONSULTING’ SERVICES INC. Suite 104-ISIS Pemeerton, N.VaN. PH: 968-7577 Fac 958-7599 Web Site: www.on-track.ca__ E-mail: techsupp@on-track.ca north sh ore Hews BUSINESS that employer until you retire? If your health is poor, will you live that long or after retirement, will you live long enough to benefit from the higher pension? Third, the pension will be paid to and taxed in your name. Will other investment choices allow you to shift income to a spouse in a lower tax bracket? Finally — and probably most importantly — if you don’t buy back the pension, will you have the discipline “credit casing” speak for themselves. Stock markets recovered, most commodity prices rose and many exporters appear to be back on track, if net thriving. Export sales at Kelsan Technologies have jumped some 40% trom last year’s figures and 23 new staff posi- tions have been created asa result. Chiddick attributes part of Kelsan’s rapid growth to the recovery experienced by overseas ers.umics. Kelsan alsa j.urchased a local engineering outfit, expanding their facilities to include a ~ ATTENTION! x n credi and skill to invest thar money to produce a better result? Now let's say you have left your job. You have three choices: leave your pension with the empioyer, transfer it to your own RRSP or rake the cash. Rarely should you take the cash, because the whole amount will be added to your income for the year and up to half will go to Revenue Canada. Once again, you must compare (1) how much pen- sion income you are likely to collect if you leave the moncy in the pla, with (2) how much you will collect if you add this amount to your RRSP. In general, if you are close to retirement, if it’s a good (and safe) pension plan and if you tend to be a umid new fabrication division. With the global economy clearly on the mend, last week’s 0.25% rise in rates by the Fed reflects what the bankers refer to as a “neu- tral” stance. In their eypical fashion, however, market watchers anticipate the announcement of these upward revisions, and have a tendency to get carried away, Markets fell as people anticipated the risc in interest rates, Nevertheless, the announcement came, markets rallied, and once again yesterday's “ wena JEEP OWNERS Complete mechanical & electrical repairs trained technician ; iMPEX AUTOMOT IVE 116GA West 14th Street Tei: (off Pemberton Ave., entrance at rear) > by factory big worry” is investor, you should proba- bly leave the moncy in the pension plan. In the opposite situations, consider transfer- ring the nioney to your RRSP. Whether vou are looking at this question or a pension buyback, most retirement financial planners will help you with both the caicula- tions and decisions —— proba- bly without charge in the hope you will give them the business if you choose to invest outside the pension. Ask for at least nwo opinions. Mike Grenby is a columnist and inde; pendent personal financiai adviser. He'll answer questions in this col- umn as space allows but can- not reply personally. Contact bim at P.O. Box 50029, South Slope R.PO,, Burnaby, B.C. V5j 5G3; e-mail . Market investors must anticipate now appears trivial. This scenario is sure to repeat itself in the future. - The headlines always scare a nervous few out of the mar-...-” ket and onto the sidelines, only to watch what they have just sold jump in value. Those investors paying atten- tion can readily ke arn. from. a others’ mistakes. : — Chris Carter is an invest- " ment executive with - ScoriaMcLeod in North Vancouver. He is also the daily business commentator on. BCTV Morning News. 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