ADMS 3490 Chapter Notes - Chapter 12-13: Defined Benefit Pension Plan, Canada Pension Plan, Pension

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People are going to google for less pay just for benefits. Sas a software company; the physical lay out is appealing so does. Mandatory benefits: have to pay these such as pension plans, employment insurance. Government-provided employee benefits, such as pensions and employment insurance to which employers must contribute on behalf of their employees. Retirement income: three types of retirement plans; i). Defined benefit plan: where the retirement income is not guaranteed as the employer invests the pension saving. Pension plans that provide retirement income based on a proportion of the employee"s pay at the time of retirement ii). Defined contribution plans: pension plans which provide retirement income based on the accrued value of employer and employee contributions to the plan iii). Hybrid pension plans: some of it is guaranteed and some of its on the market. Pension plans that combine features of the defined benefit pension plan and the defined contribution pension plan.

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