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Governments always change the rules THE HERALD OUTLOOK Saturday January 1990 Page Governments are continually changing the rules They are increasing the amount we Canadians can contrib ute to our RRSPs but not allowing increased contributions Tor those who have Defined Benefit Pension Plans What is a Defined Benefit Pension Plan It is simply a pension program whereby the recipient you and I re ceive a defined retirement payout when we retire program says that you will retire with the average salary of the past five years thats a defined benefit program Or if it states thai you will receive 1 000 per month at retirement thats a defined benefit plan But because the Government is making it tougher and tougher for those employees in such a pension plan to build additional retirement benefits most pension plans fall short of actual retirement needs many employees are asking that the existing pension plan be changed What about you Or do you have a pension plan Today many employees and em ployers are looking at a different type of program Its called a Group and it has many many advantages we believe over the old pension plans now in existence Lets look at some of these advan tages Firstly it gives the employee the right to decide how much he or she wishes to put into the pension plan right up to of earnings Secondly the employee can change the amount con tributed increasing it or decreasing it as circumstances allow Thirdly it is completely portable If you the employee changes jobs you take your Group RSP with you Its all yours Maybe the new employer will not have such a program but you con tinue adding to it on your own because everything was registered in your name not the companys Fourthly its simple There are no expensive costs in setting it up such as there are in registering existing pension plans and it gives you freedom as to contributions none if you so wish whereas most existing pension plans are bound by rigid rules giving you no choice in anything For the employer its also simple All they have to do is agree to the payroll deduction for the participating employ ees and forward the cheque monthly If ITS YOUR MONEY Paul J Rocket employer wisnesiocontnDuteittoo can be in relation to the value of thai employee rather than in a fixed per centage that must be in a regular pensionplan We know of one employer who agreed to match the employees contributions up This meant that if an employee chose to put in the employer also put in 5 If the em ployee chose 10 the employer would only go up to 6 If the employee chose the employer also contributed nothing Today we have Group RSPs that offer almost anything and everything that you could imagine A single Group RSP could have participants using GICs Canada Savings Bonds mutual funds etc whatever the employees choice Some employees might chose GICs while the person at the next desk or work station chooses a mutual fund We believe Group RSPs are the coming thing both to replace existing pension plans and to establish new re tirement programs for other firms that do not have a pension plan Imagine the person who earns pej year putting 2000 per year into a Group RSP using a mutual fund starting at age 20 through to age Because most mutual funds have averaged in excessof 5 peryear over the pas many years by calculating that per year contribution at 15 that employee would have over million at age If it were in a 10 GlCit would be worth 15 million No wonder employees and employ ers alike are looking at mutual fund Group RSPs Will your pension be worth million when you reach age For a free brochure on group contact Peter C 10 Drive Georgetown Ont or phone 87772 16 Paul J Is the author of the best seller Why I Invest in Mutual Funds and President of Regal Capital Planners Ltd Town plugs into computers The Town of Halton Hills will plug into the 1990s with new com puter systems for its building and parks and recreation depart ments for from the town budget Town council approved the computer system Dec for the parks and recreation department to be supplied by Info 2000 at a cost of almost 109000 by 1991 The budget will provide for the system while a pro vincial government grant will cover the remaining 42500 The town is now accepting pro posals for the building depart ment computer system that will cost the town in The provincial government will cover 10000 with a grant for the system The town information resource management service committee set up to rewiew the towns com puter needs says a new system should be compatible with ex isting computers and should work with a central system in the Halton Hills Civic Centre Georgetown Coun Pat McCar thy said the town should avoid duplicating copies of the same software when purchasing com puter materials How many copies of Word Perfect do we need the coun cillor said 26GuelphSt Georgetown Ont 8779896 ID OXBOW BOOKS 20OFF JANUARY SALE OFF ALL STOCK BOOKS and STATIONERY ID CALENDARS PRICE Sale Ends Saturday January OXBOW BOOKS Main St South Downtown Georgetown 8778861 Legion mourns passing of Joe Martin The branch mourns the passing of our comrade Joe Martin a member since He was active with the branch initiation team for many years Joe enlisted in the Canadian Army in the summer of serving in Europe during the Second World War with the Algon quin Regiment Our deepest sym pathy is extended to his family and friends at this time A Legion ser vice was held on Sunday Jan The ladies of the branch are us ing their culinary talents to host a Bums Supper on Saturday Jan Should be a good night we know they can cook You can get tickets at the bar CAR CLUB This weeks win ners John Holden 254 Bud Haines J Nancy Yates Kirby 322 Chapman SPORTS We will be holding the darts competition on Saturday Jan This is members only and is a doubles event Win ners will receive the Fred Gilmer Memorial Trophy Register pm pm Play starts at 130 pm sharp SATURDAY AFTERNOON MEAT DRAW Winners were Legion Lines J T HAYES Branch 120 PRO Haines Flo Carswell The ham was won by Ford ENTERTAINMENT In the lounge Saturday Jan 13 Ken and Hazel The next general meeting is Thursday Jan Janice McKeller Dorothy Vinkle Jackie Caughey Sharon Swarm Ray Clarke Pauline McNielly Betty McLean Harry Bottoms Bruce Collms Jean Bud RECYCLING II works ir we flU do our pari Please Remember to Recycle This Newspaper WINTER BLUES Got 10 Minutes FULL SERVICE OIL CHANGES Lube Armstrong Mountainview 8779394 CALL TODAY FOR A FREE NO OBLIGATION CONSULTATION 8731900 290 GUELPH ST GEORGETOWN In The Georgetown Market Place Special consists of 3 weeks of System services Does not include cost of exclusive NutriSyslom food diaries and maintenance program Offer valid participating centres NewiiflQts only