What is a Defined Contribution Pension Plan? [understanding your pension plan]

Defined contribution pension plans are based on an employee contributing either a fixed amount or percentage of their earnings, with their employer often matching the employee’s contribution, to fund their retirement. As such, the contribution formula is defined, yet the pay out is not known. Instead, it is dependent on the success of the investment, with no guarantees. It tends to be voluntary and self-directed. It also has the advantage of investing on a tax-deferred basis, with withdrawals expected to occur when the employee, now a retiree, is in a lower tax bracket.
For information as to our review procedures of pension plans for retirees and recently departed / terminated employees, feel free to phone us at 403-400-4092 or email us at Chris@NeufeldLegal.com, and we will advise you as to the process that we undertake with respect to any such review and the obligations that we require from yourself should we agree to perform such a review. More information can be obtained by visiting our website http://www.PensionPlanLawyer.ca.
As an honest and hard-working employee, you should be entitled to nothing less the full amount that you earned from your pension plan, which all too often is not the same as what your former corporate employer is claiming that you are entitled to. There can be a serious discrepancy between the two, and you should be receiving all that you are legally entitled to from your pension plan. Protecting the financial well being of you and your family is extremely important. As such, knowing what action to take can be incredibly difficult and challenging, however as it is in fact your hard earned money, you need to assume responsibility and engage the right lawyer to investigate and, where necessary, pursue your full pension plan entitlement.
** PLEASE NOTE: This is attorney advertising that is provide solely for informational purposes. The video only addresses very general aspects, without delving into specifics, which are absolutely critical to any legal analysis and approach. As such, it is ALWAYS recommended to engage the services of a knowledgeable lawyer to address the specifics of your particular situation, as this will dictate how you should approach any business or legal matter.
Your receipt of such information does not create a solicitor-client relationship with Neufeld Legal PC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. Prior results referred to in these materials do not guarantee or suggest a similar result in other matters.
We are only admitted to practice law in certain jurisdictions and appear before certain courts, such that our legal advice reflects our knowledge as to those particular jurisdictions and courts, which may substantially differ in other jurisdictions where the courts, laws, statutes, rules, regulations and case precedent may differ.