Options to consider for Members faced with financial challenges Downturns in employment are not unusual in the motion picture industry and no one knows how long this one is expected to last. The Committee is exploring all possible alternative options to assist members during this difficult time. If you are struggling with financial challenges, [...]
Mackenzie Monthly Market Insights for July 2023
Our plan provider Canada Life takes rigorous steps to ensure that they protect and manage our personal information according to the regulatory standards within the financial industry. Here’s what you should know: Canada Life collects and uses data from plan sponsors and members to administer their retirement program Only data which is legislatively required, [...]
Our plan provider Canada Life has gathered all the key points about the new First Home Savings Account (FHSA) in a short article. Here is a summary of everything you need to know: This new savings account will be launched in 2023 It combines some of the features of an RRSP and a TFSA [...]
Mackenzie Monthly Market Insights June 2023: click here to read more.
The 2023 federal budget proposes changes in the deduction for tradespersons tools. Here are the facts: The proposed change included doubling the maximum employment deduction for tradesperson's tools from $500 to $1,000. The new maximum deduction would be in effect for the 2023 tax year. Under the current rules, a tradesperson can claim a [...]
The latest federal budget includes changes to the Income Tax Act (ITA) that change the amounts that students can withdraw from their RESP accounts. Here are the facts of the proposed changes: The current rules allow for a student in full-time post-secondary education to withdraw a maximum of $5,000 in education assistance payments (EAPs) [...]
At the end of March, Local 891 featured a member highlight article in its newsletter about Frank Haddad, Chair of CEIRP's Retirement Committee. We encourage everyone to read it. Click here for the full article.
According to a recent study by Stats Canada published at the end of March, Canadian credit card debt has increased to $91.5 billion. That amounts to a 13.8% increase in December 2022. If you’re looking to reduce your credit card use and to bring down your debt, consider trying some of these suggestions: Set [...]
CEIRP continues to experience steady growth, despite the pandemic and market fluctuations. The funds offered through CEIRP are designed to keep pace when markets are rising and to protect capital when markets are more challenged. The first table below illustrates the annual growth of the assets and membership. Assets Members 12/31/2022 $961,833,335.39 32,890 12/31/2021 [...]
