Are you a part of the TCPP?
To improve your retirement income and to make every one of your hard-earned dollars count – the TCPP is the pension plan that works.
Message from the President
Teamsters has been serving its members for over a century to provide fair opportunities in the workplace, equality and security. As part of our commitment, it is of paramount importance that our members have access to a pension during their retirement years. This is what Unions do – to represent our members’ best interests – now and into the future!
Are you a part of the TCPP?
Formed with just 500 members in 1981, The Teamsters Canadian Pension Plan (TCPP) is a good plan and a powerful arrangement allowing any size group to maximize its retirement benefits to members while providing many advantages. To improve your retirement income and to make every one of your hard-earned dollars count – the TCPP is the pension plan that works.
The structure of the TCPP
The principal components of the structure are the Board of Trustees, the Divisional Retirement Committees and the professional consulting organizations that are called upon by the Board and the Committees to help carry out their activities. The Board can create subcommittees on an ad hoc basis to deal with specific issues that require in-depth analysis.
Understanding your Pension Plan: RRSP versus Multi-employer Pension Plans
Saving for retirement isn’t easy. There are complex options to choose from, all with different levels and types of risk, costs, and structures.
Learn the key differences between a Registered Retirement Savings Plan (RRSP) and a Multi-employer Pension Plan (MEPP) in this video.
Part 3: Personal Savings
According to the 2016 Census by Statistics Canada, the majority (65.2%) of Canada’s 14 million households contributed to at least one of three major types of registered savings accounts in 2015, namely registered pension plans (RPPs) registered retirement savings plans (RRSPs), and tax‑free savings accounts (TFSAs).
Part 1 of our 5-part series on Canada’s three-pillar retirement income system provided a general overview and Part 2 focused on how government benefits worked. Now in Part 3, let’s turn our attention to personal savings such as RRSPs and TFSAs, which are investment vehicles designed to help Canadians with their personal savings for retirement:
When it comes to saving for retirement, it's never too early to start, and the earlier, the better. Life’s many financial commitments, like a mortgage, rent, car loans, insurance, childcare expenses, and the list goes on, can make it challenging to save for retirement. Have a plan, make a budget, figure out how much money you can afford to save for retirement, and how much money you might need at retirement.
You may wish to seek the guidance of a financial advisor to help you figure out how to budget and which savings vehicle to use.
Part 3 of our 5-part series delved into the details of a couple of personal investment savings vehicles designed for retirement.
Stay tuned for the next installment of our 5-part series on the retirement income system.
The TCPP is the pension plan that works.
Improve your retirement income and make every one of your hard-earned dollars count.