durhamregion.com | This Week | Thursday, December 22, 2022 | | 8 You've made the difficult decision to leave your job. But another decision remains. Do you keep your pension intact or take a lump-sum payout? If you decide to keep the pension, you may be able to transfer it over to your new employer's pension plan, in some cases. Or you can leave your pension in your old employer's plan and collect money from more than one pension when you retire. Taking a lump-sum payout allows you to get paid a single amount up- front to invest as you wish, but it will be taxed -- heavily -- if you don't have it deposited directly into a locked-in retirement account (LIRA) or locked-in Registered Retirement Savings Plans (RRSP). Malcolm Hamilton, a retired actuary, says the decision depends on your age and whether you're comfortable managing your own money. "Young people will take the payout," he says. "When you're younger, a pension is decades away. It's different for someone whose pension might start next year." If you're in your 50s and your deferred pension can start at 55, Hamilton says your earned pension amount will be more substantial. Having a guaranteed income in your retirement years will be the more attractive option. While lump-sum payments can give you more control over your money, if you're not good at managing your finances, keeping your pension intact is the safer bet. "If you don't know how to invest your money or you don't have an adviser you trust, you won't make a good return on the payout no matter what you do," Hamilton says. A payout is also valuable if you leave a job due to health reasons. "If you're unlikely to live a long life and you may die before you see the pension payments, then it's best to take the payout," he says. I'M QUITTING. SHOULD I KEEP MY PENSION OR TAKE A LUMP-SUM PAYOUT? CLARRIE FEINSTEIN clarriefeinstein@torstar.ca MONEY MATTERS SIGN UP FOR OUR WEEKLY NEWSLETTER AT DURHAMREGION.COM Now that the days are getting darker, your mood may be getting darker, too. Along with turning the clock back, many of us want to pull ourselves back as well, and hibernate. When it gets really bad -- as it does for between two to six per cent of Canadians -- it is a form of clinical depression known as seasonal affective disorder (SAD). You may have heard about SAD and its symptoms -- craving carbs and sleep, lethargy and withdrawal from social contacts -- but there are a few things you may not know. 1. Adults are at higher risk than children, but after the age of 50, the risk of SAD starts to decline. 2. Women are up to eight times as likely as men to report having SAD. 3. SAD may be related to our ancestors in the ice age, when slowing down in win- ter was useful, especially for women of reproductive age because pregnancy is energy-intensive. 4. It's not just the shorter days -- SAD can be linked to stormier weather in October and November, when it's common to have multiple days of clouds. 5. Your doctor can prescribe antidepressants and/or phototherapy, but there are steps you can take to stay mentally healthy when the nights are long: get outdoors for 20 minutes, twice a day; sit near a window; eat well and exercise, keep in touch socially and reach out to anyone you think might be lonely. From the Ontario Mood Disorders of Ontario and the Centre for Addiction and Mental Health SAD AND LONELY? 5 THINGS TO KNOW ABOUT SAD KIM ZARZOUR kzarzour@yrmg.com Women are up to eight times as likely as men to report having SAD. Susie Kockerscheidt/Torstar WELLNESS LONG NIGHTS CAN BRING LOW MOODS - AND SEASONAL AFFECTIVE DISORDER Chances are, if you were born in Canada, you don't spend your time thinking about how to become part of the beautiful tapestry of Canadian culture. You are already a part and contribute greatly to its existing vibrancy and joie de vivre. No matter where you live in this beautiful country, it is your birthright to be able to contribute to this collective cultural pattern. Canadians are known for their friendliness. Canadian smiles go right along with Tim Hortons coffee and doughnuts. On the world stage, Canada has a stellar reputation for impartiality and objectivity. In a 2015 international survey, the Reputation Institute reported that Canada had the best reputation out of the 55 countries in the world with the highest gross domestic product (GDP). After analyzing data from more than 11 million Twitter accounts over a period of five years, Klear, a social analytics company, ranked Canadians as the most open and engaging with other nations in their communications. Canada was thus named the friendliest nation. In fact, the penchant for saying "I'm sorry," in every situation has long been recognized as a fundamental part of Canadian identity. These are noble ideals to live up to. As an immigrant to Canada in the mid '80s, I did not have the data above, but I did not need data to inform me about Canadian friendliness and hospitality. In most circumstances, it was woven into the fabric of my encounters, and had a profound effect on my efforts to integrate into Canadian culture. Granted, I also experienced some discrimination and racism, but these incidents did not alter my appreciation of the affability of the majority of Canadians I met. Most newcomers to Canada want to fit in, but they also have a need to hold on to their own cultural heritage. This is not a dichotomy. Preserving one's cultural heritage while also adopting the best parts of Canadian culture is absolutely possible. It is, in fact, essential to the continued growth and evolution of Canadian culture. This, of course, means that all Canadians are going to have to start thinking about what this means to them. This magnificent tapestry must continue to evolve and develop to encompass all Canadians for our beautiful country to continue to prosper and grow. Each new thread woven brings new colour, depth, and significance to what it means to be truly Canadian. Brian Sankarsingh is a Trinidadian-born Canadian immigrant with a passion for advocacy and a penchant for poetry. Arriving in Canada in the 1980s, he worked tirelessly to forge a life and career for himself. A published author and poet, Sankarsingh is unafraid to express his opinion on controversial topics, such as racism, systemic racism and other issues faced by marginalized communities. AN IMMIGRANT'S PERSPECTIVE ON CANADIAN CULTURE OPINION NEWCOMERS PRESERVING THEIR CULTURAL HERITAGE IS ESSENTIAL TO CANADIAN GROWTH, WRITES BRIAN SANKARSINGH BRIAN SANKARSINGH Column No matter where you live in this beautiful country, it is your birthright to be able to contribute to this collective cultural pattern. SIGN UP FOR OUR WEEKLY NEWSLETTER AT DURHAMREGION.COM