News - Meetings of 7:22 Breakfast Club

January 23 2008

Submitted by Rick Carlson

Executive Announcements

Dale Grant announced he will be leaving CHIP Hotels, the Radisson and thus the 722 Club on February 1 2008 to manage the Sheraton Cavalier. We will all miss him.

Jack Rudolph is looking for speakers beginning with our 2nd meeting in February.

Darren McDonald reminds us to call in or email him if you can't attend a meeting. Our bylaws provide that if you miss 3 consecutive meetings without calling in or if you miss 25% of the meetings in a year, the board must convene to review and terminate membership. There is a link on the home page of our website to send a message if you can't make it in for a meeting.

Curt Stuckel is no longer with the club.

Social Announcements

Heather Whyte reminds that people attending our curling event on Thursday evening (Jan 24) should meet at Aromas at 6:30 Thursday to pick up their tickets. If you can't make it then, contact Heather or Giselle.

General Announcements


Speaker | Brenda Brown | Human Resources & Development Canada

Brenda works with HRDC in the area of CPP and OAS. She provided us with a summary of benefits available under both pension plans. CPP was established in 1966. Contributions are based on a percentage of a person's income (approximately 4.5% plus a similar employer's contribution). The percentage applies to a maximum income of $44,900 presently. Any excess income is not subject to the deduction. Benefits are also paid based on the amount of contributions made over the years. This year, the maximum pension amount available is $884 but the average paid out is $475 because people may not have worked as many years or their income was less than the above maximum.

A person can apply for early CPP at age 60 but the benefit will be a reduced amount. If you start early, your entitlement is set so it will not increase when you reach 65. In order to begin early, you must either cease working completely or substantially cease working. You must have no more than $884 earnings for at least 2 months when you apply. After that, your income can go back up again. You can call in to HRDC for a free estimate of what your earnings would be if you are curious whether it is worth it to you to apply for early benefits or to determine what your entitlements are to date.

Disability benefits are available for long term disabilities. The maximum payment available is $1,077 per month.

CPP pays death benefits. The maximum death benefit payable to an estate is $2,500. There is no time limit to apply so if a personal representative for the estate has forgotten to apply they can still do so. Surviving spouses and dependent children may also be eligible for a survivor's benefit in certain cases. It all depends on how long and how much the deceased paid into the plan, the age and disability of the spouse, etc. The maximum is close to $500. HRDC includes common law spouses of 1 year and same sex spouses. The maximum benefit to surviving dependent children is $288 per month per child.

Applications for CPP must be made. They are not automatic.

Old Age Security (OAS) entitlement does not require a person to have paid into the plan. If you have been in Canada for 40 years when you become entitled at age 65, you will receive a pension of $502 per month. If you have been in Canada for less than 40 years, the amount will be reduced by formula. Additional supplements are available for low incomes.

CPP can be split on divorce or separation.

Sergeant at Arms

Don Johnson fined Dale for his last meeting with the club and he also fined non-curling enthusiasts.

Hidden Hand

Brenda Thomsen

Pot of Gold Winner

Rick Wrubleski. Unfortunately Rick only won $8.

Other Business


Next Meeting

2008-02-13 (7:22 a.m.)

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