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) i l The Canadian Statesman, Bowmanville, February 5,1966 19 Queen's Park Report by Sam Cureats Nestleton and Caesarea District Happenings February 12,1986 Are You Preparing For Your Future? According to most people in the know, the Canada Pension Plan is going broke. That is an awesome prediction and one which leaves thousands of the baby boomers without a great deal of financial security security for their retirement years. Those in a pension plan at work have some degree of security, provided that they either remain with that employer until their retirement, retirement, or upon leaving the firm transfer (more commonly commonly known as rolling- over) the accumulated funds into another pension plan. Unfortunately, individuals individuals all-too-ofi.cn view their pension funds as extra income income when they leave an employer, and spend the money. For their own sake they should either transfer the funds into the pension plan at their new place of employment or into a registered registered plan with a financial institution or insurance company. Let's take a moment and look at one difference between between spending pension dollars, and rolling them over into another plan. ; As soon as you take pension pension dollars into your own hands it becomes taxable as earnings. Accordingly, you will have to calculate those dollars into your income for that year when filling in your tax forms. Those seemingly seemingly harmless extra dollars dollars could make a significant significant difference on the amount of income tax payable; payable; and you will have to pay that extra tax at income tax time. I If, on the other hand, you roll the funds over into another plan you will pay no taxes on that amount. What you will have in this instance is a receipt from the plan from which you withdrew and a receipt from the plan into which you deposited the funds. One receipt will cancel out the other on your income tax forms. So what about workers who do not have a pension plan at work? How can they prepare for their retirement retirement years? Banks, trust companies and insurance companies all have various registered retirement savings vehicles available to their clients. However, before deciding to put your dollars with one firm or the other, shop " around. All plans are not the same. Most have a minimum deposit deposit amount, be it $25. or $300. Some have fees. Some pay daily interest. Some pay annual interest. On some accounts the interest is compounded annually and added to the balance in the account. The interest for the next year is then calculated calculated on this new balance. On other accounts, however, however, the annual interest is stripped off and deposited in another separate account, account, frequently at a lower rate of interest. Last, but far from least, the term of the investment can vary from one to five years, after which you will have to roll the balance into another term of investment. What you must do, is decide decide which plan best suits your financial situation and long-term financial objectives. objectives. In deciding, I caution you to remember that once that money is deposited into a registered retirement savings plan (R.R.S.P.) you should think of it as untouchable untouchable money. You should also commit yourself yourself to making another deposit deposit each year thereafter. The amount you contribute contribute to the plan is deductible from your income at income tax time, thereby reducing the amount of tax payable to the government To put some of this into perspective for you I have calculated the return on a $500. deposit over twenty years at an annual average rate of interest of 8%. That initial investment of $500. will grow to $2,330.47 over the twenty years period. If you were to commit yourself to depositing $500 each year for a period of twenty years you will have invested a total of $10,000. Based on that same 8% annual annual rate of interest over those twenty years, you will have $24,711. awaiting'you at the end of the twenty years. The more you commit yourself to your future, the more secure your future will be; and while it may be difficult to put money away, saving can easily get moved to the bottom of a list of priorities. But let me relate this to every day finances. Do you occasionally go out to dinner, buy your lunch, visit the coffee truck at break time, go to a show, or even get in the occassional occassional golf or bingo game? If the answer is yes to any of these, calculate the amount you believe you would spend on these items during the year and then ask yourself yourself whether you can afford not to protect your future. If you were to give up just a few of these items, and set aside the dollars you would normally have spent on them, in no time at all you will find a nest-egg has accumulated accumulated which can then be put away for your future. It would be nice to think that the Canada Pension Plan, and pension plans available available through our employers, employers, will secure our financial financial future for us. But it is highly unlikely. For that reason, I encourage each of you to choose a method for protecting your future financial financial independence. The day may very well arrive arrive when you will be glad you did. Good Luck to Cam Christie. Christie. We have always had a good working relationship as politician and reporter. And thanks to Jim Mitchell Mitchell for expressing his concerns concerns over Video Stores. Subdivision Waiting for Final Stamp Of Approval Town council will be asked to give a green light to a new east Bowmanville subdivision when it meets next week. The town's general purpose purpose and administration committee is recommending recommending approval of a subdivision subdivision agreement governing the land in question. The committee is recommending recommending that the mayor and clerk proceed with the agreement agreement between Veltri and Sons Corporation and the Town of Newcastle when the document has been finalized to the satisfaction satisfaction of the director of public works and the director director of planning. Included in the development development is a tract of land East of Mearns Ave. and south of Concession St. The property property is the site of approximately approximately 200 single residential residential building lots. In a report to the committee committee on Monday, planning staff reported that "Veltri and Sons Corporation have indicated to staff their intentions intentions to proceed with their plan of subdivision and the preparation of a subdivision agreement in the near future. By Mabel Cawker Well! Mr. Groundhog saw hli shadow on Sunday, February 2nd, ao folks - they say we're in for another six weeks of winter. You may be sure there's plenty of the beautiful snow in store for us yet. Rather an unusual winter but it is well on the way, won't be long until Spring, so let us be less concerned about the non-essentials of life and live each "blessed" day to the fullest. Real joy comes not from ease or riches, but from doing something worthwhile. A fine rule to follow, keep busy - keep going - keep doing - for others ! Avid Fishermen Take Note! With the unique winter we've had, a larger than usual number of fishing huts are appearing on Lake Scugog, and nice catches are reported. Caesarea Euchre Results A much better attendance at the Wednesday evening card party held at the Centre with winners as follows: First prize - Sandy with 88, second - James Emerton with 79, low score - Judy Westall 49. Next week as usual for a little diversion. Handicraft Guild Anniversary Coming Up A very important date is coming up Wednesday, February 12th, when the Louise Patterson Handicraft Guild meet for their 21st anniversary party. The celebration celebration will be held in St. John's Presbyterian Church, Port Perry, and President Ruth Davidge of William's Point and the members are hoping for good weather and a fine attendance. The meeting commences at 10 a.m. and lasts until 3 - 4 p.m. Folks belong to the Guild and travel from Sunderland, Janetville, Caesarea, William's Point, Blackstock, Seagrave, Ash- burn and many other points nearby, including Port Perry. A warm welcome awaits anyone who would like to attend and enjoy a piece of anniversary cake and tea or coffee with the members. Circle your calendar - a good "bet" for a very interesting day! World Day of Prayer The World Day of Prayer for Cartwright churches will be "hosted" by North Nestleton United Church, on Friday, March 7th at 2 p.m. More information at a later date. Caesarea Community Church A very nice service at the Caesarea Community Church on Sunday morning. Rev. Dr. W. H. Crawford presented a splendid message on "Prayer." He was assisted by Rev. Charles Clarke throughout throughout the service and organist Kathleen Watt. Our prayers go out to those who are ill in the Caesarea congregation. The Sunshine Club is now meeting in the new Church Hall on Thursdays at 7 p.m. with leader Jacqueline McDermott in charge. Newsworthy Items John and Marion Hall, William's Point and Port Perry, have enjoyed the company of cousin Irene Swayze of Saskatchewan for the past week. This week they are entertaining grandchildren grandchildren Rebecca and Rachael Hall of Port Perry. Sam and Mabel Cawker of Scugog Point Road stepped out in style one day this past week - having a lovely luncheon in Port Perry, then 1 spending the afternoon in Oshawa, just browsing through the stores, winding up with coffee at Grant and Merna Cawker's home in Oshawa and a delightful visit with the family before returning returning to the farmstead. Must do this sort of thing again before too long - gives one a real lift! Brother Jim Cawker is still hospitalized in Port Perry, we trust he will soon be feeling much improved in health - we miss our interesting visits with him very much! Nestleton Presbyterian Church The annual meeting of the Nestleton Presbyterian Church Board was held after the service on Sunday, January 26th, commencing with a Pot Luck Luncheon. Reports indicated a very successful year in 1985. Pleased Mr. Stan McNeely is the Treasurer for the coming year 1986. Rev. Fred Swann is doing a series on Paul's letters to the Corinthians. Shirley Scott played and the church members are pleased with her ministry. The Sunday School is doing well under the direction direction of Superintendent Dorothy Lee. We commend these fine Church workers for their dedication. Retirement Party Ron Williams, who grew up in Nestleton area, and has lived in Oshawa for some years now, retired from the Bell Telephone Company this past week. A retirement party was held in the Polish Hall in Oshawa. Ron and five other retirees received a telephone with names inscribed on them from the Bell Company. Those present from Nestleton for the event were his mother, Mrs. Avelyn Williams and brother and sister-in-law, Arnold and Jean Williams. "Best Wishes" from Nestleton friends to Ron on his retirement - a once in a lifetime occasion! Nestleton United Church On a lovely, bright Sunday, February 2nd, a smaller congregation congregation than usual. The greeters at the door were Reg Hughes and sons, Marvin and Donny. Those in charge of the nursery were Chris Davis and Claire MacKenzie. In the choir the evening U.C.W. sang a lovely number entitled "Here Comes Jesus" with Betty Headon accompanying on the piano. Rev. Dale Davis' theme was "Inside Out." Verna Windrem assisted during the Worship. Try and attend next Sunday for an interesting message. The afternoon U.C.W. will meet on Tuesday, February llth, 1:30 p.m. at the home of Jean Williams in Nestleton village. 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