GRT 2100 Lecture Notes - Lecture 7: Registered Retirement Savings Plan, Old Age Security, Pension
28 Nov 2016
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Document Summary
Takes into consideration the amount of money that a family may invest in the necessities of food, shelter, and clothing in comparison to the average family. If you"re sending 20 percentage points more that the average then you may be considered a family of low income. Low income cutoffs(lico): income thresholds that take into consideration the # of people in your family unit and how large the population in which you are living. Market basket measure(mbm): goes beyond basic necessities and has a more holistic view on what should be included in the necessities. Canada does not have a poverty line as it uses low income cut offs which vary according to community size and size of household. min 1 person living in a city of 500000 or more. What are the options available to older persons for financial security.
