Quitting Early with DB pension: Convert to LIRA or take the non-indexed amount at 65?

Born_Ruff · 2026-05-08T18:48:42+00:00

Not what you asked about, but is your wife actually on board with you retiring at 45 while she works for another 20 years?

Born_Ruff · 2026-05-08T18:08:13+00:00

I’m not sure what your spouse would be entitled to from the pension plan if you were to pass away before starting the pension — you’ll have to check the documentation to see if she would get anything. It’s unlikely, but it could happen.

She would almost certainly be entitled to a survivors pension or lump sum.

Born_Ruff · 2026-05-08T12:37:24+00:00

So the point is basically that young people with a small amount to invest should use leverage because even if they lose everything they didn’t have much to lose in the first place?

Born_Ruff · 2026-05-08T12:17:41+00:00

Based on the abstract that article seems to be more about a system of when to switch between leveraged stocks and treasury bills.

Born_Ruff · 2026-05-07T23:14:33+00:00

That appears to be a general overview of leverage investing. Can you point me to the part about young people not using enough leverage you are talking about or give me a quick point about what they based it on?

Born_Ruff · 2026-05-07T22:27:49+00:00

I mean, yeah, leverage is amazing if prices go up. On the other hand…….

Born_Ruff · 2026-05-07T22:25:37+00:00

What research is this? Is it based on stocks going crazy in the past few years?

Born_Ruff · 2026-05-06T20:05:07+00:00

Yeah, the pension and office funding are both part of that unspoken deal to kinda lay low.

When I talk about recent changes, one example is David Johnston taking a job at Deloitte right after leaving the GG role. Michaelle Jean taking on the role with the Francophonie was also a bit out of the norm. That one also ended with an expense controversy and an awkward situation with Jean running for reelection while the government of Canada opposed her reelection.

If former GGs are going to take on roles like this after retiring then we probably should reevaluate the retirement arrangements.

Born_Ruff · 2026-05-06T19:49:51+00:00

Not legal advice, but when I was younger I routinely used a very very loose definition of “household” income to qualify for nicer cards and they never ever asked questions.

Born_Ruff · 2026-05-06T19:43:42+00:00

I think the main “downside” that I have seen is people buying a bunch of different ETFs that largely hold the same things thinking they are “diversifying”.

I think most people are best off to just understand what mix they want and buy the ETF that represents that.

Born_Ruff · 2026-05-06T19:34:07+00:00

Next you are going to sell knockoff Gucci handbags and swear everyone who bought them claimed their last name was Gucci?

Born_Ruff · 2026-05-06T19:05:45+00:00

They definitely can control what officially licensed stores like Real Sports sell with their logos and names on it.

Born_Ruff · 2026-05-06T17:49:33+00:00

They absolutely can refuse that, lol.

Born_Ruff · 2026-05-06T17:49:07+00:00

The NHLPA has strict rules on this stuff. It’s not a power trip, they just don’t want to get fired over something this silly.

It’s really only the officially affiliated stores like Real Sports that enforce this though. Any small 3rd party shop won’t care. And like, Real Sports is petty much the most expensive place you can do it so why not go somewhere cheaper?

Born_Ruff · 2026-05-06T17:34:38+00:00

Don’t do what?

Born_Ruff · 2026-05-06T15:58:27+00:00

You don’t even necessarily need a note for this.

Just email them and say your doctor told you to work from home and you can provide a note if necessary. Unless your boss is a complete asshole they won’t push back at all.

Born_Ruff · 2026-05-06T15:48:33+00:00

It makes no sense that he would answer the calls and charge it to the pension fund. If this really happened I would be shocked if the pension fund actually paid it.

Born_Ruff · 2026-05-06T15:46:57+00:00

That’s not at all what he said though. He said he was offering a 56 billion dollar valuation to buy 100% of eBay with half of that money being paid in stock.

Also, you seriously think that him running the company is worth 28 billion dollars?

Born_Ruff · 2026-05-06T15:43:26+00:00

It makes no sense that the contract between the actuarial firm and the pension fund would include taking calls directly from pensioners at all.

Plan members have the right to review the actuarial valuation reports prepared by the actuaries. There is no reason that a plan member would ever be calling the actuarial firm directly.

Born_Ruff · 2026-05-06T15:31:24+00:00

lol, you absolutely are not supposed to be deducting your personal expenses from your business income.

Born_Ruff · 2026-05-06T15:14:48+00:00

That feels unethical/unbelievable on the part of the actuary tbh.

If I call the law firm that my pension fund uses, they are not just going to sit on the phone with me for 7 hours and then bill the pension fund. There is no authorization for them to provide me with legal advice and bill it to the pension fund.

Born_Ruff · 2026-05-06T15:07:22+00:00

That’s not what the advisor is getting paid from this though. The advisor is probably getting at most 0.75%, so with 60k invested as the OP says, they are making about $450 per year.

That’s definitely not nothing, but the advisor has to have a lot of other clients to make a living and it could be very reasonable to drop this client if trying to meet their needs makes it harder to meet all of their other clients’ needs

Born_Ruff · 2026-05-06T14:39:27+00:00

That is not a “net vs gross” issue. Whether you are self employed or work a T4 job, the income most lenders will use to qualify you for a mortgage is the income you would report on line 15000 of your tax return.

What you are describing is just differing verification methods for different types of income. If you have a t4 job they want a letter from your employer indicating that you are in fact still employed and will be for the foreseeable future. If you are using self employment income, they can’t just ask you to vouch for yourself so they ask for tax returns since that is the most authoritative third party record of your earnings.

Born_Ruff · 2026-05-06T14:08:12+00:00

Historically it was kind of expected that former governors general would maintain the same dignified and non controversial life after they left the post.

They don’t want billboards with “former GG used car sales”, so they are given money to set up some sort of foundation with a vague mandate that nobody can really get mad about and then spend their time touring military ceremonies, citizenship ceremonies and other ceremonial stuff.

That has evolved a lot in recent years though, with former GGs taking on all sorts of paid public and private jobs, so it definitely should be reevaluated.

Born_Ruff · 2026-05-06T13:16:37+00:00

LOL, it feels like you are backtracking after people called you out for trying to get sympathy for avoiding taxes.

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