Duxbury & Associates

CRA has released the RRSP limit for 2017. It is 18% of employment income to a maximum of $26,010. The maximum contribution to a defined contribution pension plan will be $26,230 (which will also be the maximum for RRSPs in 2018). The maximum pension that can be earned in a defined benefit pension plan will be 2% of earnings up to $2,914.44. The Canada Pension Plan Year's Maximum Pensionable Earnings for 2017 has increased to $55,300 which means the maximum employee contribution will be $2,564.10 and the maximum pension for retirement at age 65 will be $1,114.17 per month.

An excellent column by Rob Carrick. Some of the commenters seemed to get confused between fee-only and fee based advisors (which is why I like to call myself a financial wellness advisor). As Rob said, fee-only advisors charge an hourly or project based fee, not based on a percentage of the assets or mutual fund purchases. Fee based charge a percentage of the assets they mange so the fee is unrelated to the amount of advice you actually get and their main objective becomes to get more assets under their management. Of course, the better they do investing your money, the the more assets they will get to manage. But, unfortunately, those who are better salespeople that investors will still get lots of money to manage.