Up to the judge
No..
Uneffected.
Pension plans are a type of retirement plan in which the employee and employer make contributions. These contributions are invested and to be received upon retirement. In most all cases pension plans are tax exempt. The two types of pension plans are defined benefit plans and defined contribution plans. A defined benefit plan guarantees an amount upon retirement no matter how the investment performed. A defined contribution plan is not a guaranteed amount and heavily depends on the investment performance.
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If it is "true", "qualified" pension, not just a casual or business agreement your calling one: Yes, your pension is entirely protected. Even if the company has to go out of business or eliminate the plan prospectively, (and basically depending on certain restructurings). The Pension Guarantee Benefit Corp (PBGC), essentially a government entity, steps in and administers it.
Only if they are in a qualified retirement plan, like an IRA.
There is a growing need for corporate pension plan management consultants as the financial crisis wiped out a lot of company profits and pension plans. This is why your company needs the advice of a consultant.
Information about pension plans offered in Canada can be found at the Service Canada website. They have a complete section for those seeking information about the CPP / Canadian Pension Plan as well as retirement benefits and pensions.
Common types of retirement plans available include the 401k, the Defined Benefit Plan, the Profit Sharing Plan, and many others. More options and more information about these plans can be found on retirementplans.org
A 401(k) retirement plan is a defined contribution pension account for employees. Employers can make contributions to the plan by deducting it from the employee's paycheck pre-taxation which provides the employee with pension plan with tax benefits.
The Canadian Pension Plan is earnings-based savings which varies for an individual and is coupled with Old Age Security to provide income for retired Canadians.
contact information about pension at EF huuton