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Saturday February IMS Outlook on Business Early start with RRSP pays off in retirement The importance of providing adequate income for retirement is increasingly bang recognized by individuals government and business Many employers accept the responsibility for helping their employees create retirement in come through such vehicles as registered pension plans In sup port of these plans government has made employer and employee contributions to private sector pension plans taxdeductible But what about those people who can or don t belong to a registered pension plan or who want to supplement their existing plans For these individuals federal legislation was passed in creating the Registered Retirement Savings Plan RRSP program Why should you invest In RRSPs Making annual contributions to an is a disciplined way of saving for your retirement the same lime RRSPs arc one of best tax shelters available to he individual taxpayer Contributions to an RRSP can be sheltered until the maturity date the end of the year in which the taxpayer attains age At that time funds must be re moved by dissolving the entire fund but can be used tax free to purchase an annuity or a Reg Retirement Income Fund Where do you buy RRSPs The following offer RRSPs life insurance com panies trust companies 3 banks and credit unions various in vestment companies including mutual funds that sell investment contracts What are Ibe contribution limits Members of a Registered Pen sion Plan R P can contribute up to the lesser of of earned income and S3 500 From that amount they must subtract any current to the pen sion plan For example an em ploycc with earned income or 000 who contributed to a pension fund could con to a private RRSP Would you like this pension plan for your future NC Over o retired people in Canada today need I he Guaranteed Income Supplement keep Ihcm above the poverty level They arc dis covering that the pension plans they had through their employers arc simply not good enough Today there is a new phenomenon hilling pension or retirement Held li called a group Retirement Savings Plan and that is exactly il It is a whole lot of people with one employer opening individual in their name but having their em deduct the monies whatever they decide each payday and Ihen sending in one cheque pay for those RSP every That why it called a Group What are some of the advantages boih io employee and the em 1 It costs the employer no ning if he small employer and can to contribute other than the costs of payroll deduction and the employee- time il takes to do the calculations prepare list and submit Ihe 2 It gives flexibility to the em ployee He or she can choose ANY amount of contribution right up to of wages Furthermore not fixed An employee may choose to contribute this year 10 next year or cut back or increase at ANY time Employees are not locked into a ITS YOUR MONEY Paul J Rockel fixed amount of It is vested in the employee belongs fully to him or her If the employee leaves or the firm shuts down the value of in his or her name is the employees or keep up on their own cash in or do whatever they wish Some fimwtmutual fund dealers have programs whereby the employee can choose fundi Canada Savings Bonds for iheir investments and they can change in vestment vehicles any time they so There is little or no setup coil whereas a socalled regular pension plan has a great deal of set up costs in gelling it registered etc An employer can con In the plan also if and when he feels the company can afford it He can in crease the amount in profitable years or decrease the amount in difficult years The amount if any com flexible Let suppose an employer opted for such a plan and a young cm ploycc aged earning per year decided to contribute 10 to Group RSP This would amount per year but because it is lax deductible it would probably cost SI from the employee with 700 being contributed by the Government in the form or a taxdeduction Supposing young person chose a mutual fund investment that aver aged per year Most have aver ages over the past years in excess of Also let assume there was an acquisition fee of leaving be invested each year His value at age would be S3 Yes getting awfully close to million If you were to compound it monthly which would actually be the case the value would be which is dam near million Take into account dollar cost averaging and the amount would be overS5 million Do you know employees re with million in their pension plan IfS4 million were avail able it would give you a monthly pen sion of between 30 and per month Mind you if inflation were to aver you will need over per year match 20 will buy now We believe that Group RSPs will be the pension plan of the future and they arc here today Wow what if all employees chose mutual funds J Rocfcal I author of book Why I h Mutual Fundi- and of CaptH Itam LkL For FREE brochum on Group RSP a tor GROUP and Paul J Rocfcri Regal Financial Cwrtra Union St Waterloo INDUSTRIAL HORIZON FUND The with more than no acquisition fee When you acquire an Industrial Horizon Fund you pay no acquisition fee And If you approach your Investment from a long term perspective you pay no redemption fee Yet you get the proven professional money manage of Mackenzie Financial Corporation manager of Industrial Growth Fund one of Canadas top performing mutual funds over the past years and the services of an independent fund dealer or stockbroker But you also get much more Because over of the nearly million investors have entrusted to Industrial Horizon February I9S7 has been Invested In I equity securities purchased since So the vast majority of securities In its portfolio were acquired at prices which the managers at Mackenzie Financial Corpora consider to be exceptional value In their assessment- and in ours Industrial Horizon Fund Is poised for growth And Ideally positioned to build your Peter Mass on 8777216 rd like more Information on how broaden my Industrial Horizon Fund Please provide me with more Information Including a listing of securities thai comprise lis portfolio Past performance is not necessarily indicative of future results Ratemp declining by annually to by year Any offer made by prospeuus which contains complete details of all charges Please read it befort making your purchase and rctam it for future MBA 1 1 I men Lid The Industrial Group of Funds Members of a Deferred Profit Sharing Plan arc entitled to a of the lesser of of earned income and Applicable only when Ihe member or the member employer actually con tributes the DPSP during the year Non pension members or self employed individuals can con tribute the lesser of of earned income and Contributions made to an within a calen dar year must be claimed against income received in that year SPECIAL PRICE RRSP contributions made within days after year s end can be claimed against either the pre ceding years income or that of the current year The federal government recent ly passed legislation which in creases the annual contnbuuon of tax shelter funds that can be saved in an RRSP Starting in 1988 the limits for individual contributions will be based on of the preceding years income subject to a max of in 1988 SI 1 500 in in and and beyond Slnalc Print jkZtj 12ep 38 4 24esp 8 Il FREE Double Prints or Double Size with this coupon CAN YOU BELIEVE THIS 57 color enlargement for a Iowa per picture Including film developing Only at Below is the professional help and advice youre looking for in your wedding plans These advertisers will provide the experience expertise to help you with a successful wedding day ATTENTION ALL BRtOESI SO YOU WANT TO MAKE YMffl RECEPTION MABCAL7 Then Can Ub Today For Your Professional And Personal Consultation MAIN ST DOWNTOWN QEORQCTOWN 8732334 HOURS Wed Thurg Frt 10am Saturday 40 OFF Come in for your com wedding handbook FREE with any wedding package order fairer Well help you look your beat for your SPECIAL DAY SV InvlMti tin Annul BRIDAL 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