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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 8, 1975, Lethbridge, Alberta 3D THE I.ETHRRIDOE HERALD Wednesday, January 8, 1975 Pension earnings test removed OTTAWA (CP) Eligible pensioner's now can take Can- ada Pension Plan (CPP) retirement benefits before 70 without an earnings test but government officials are ad- vising potential recipients to take a careful look before fil- ing applications. The elimination of the earn- ings test for pensioners 65 to ti'J was effective Jan. 1 when amendments to the CPP came into effect. Previously, if beneficiaries continued working, the pen- sions were reduced if earnings were above a limit which varied from year to year. But now the retirement pen- sion will be paid to all eligible pensioners who apply whether or not they are working. The option offered under the plan would allow potential ap- plicants to defer the retire- ment pension. It also would allow continuation of contributions into the plan and the building up of larger benefits that would be paid later. A spokesman for the welfare department said that in January the maximum retirement pension will be a month; the max- imum benefit next December will be for persons who apply then. The basic pension is rising every year and the benefits also are being increased by percentages'equal to the con- sumer price index. The reason for the increas- ed basic pension lies in the formula for calculating an- nual employee-employer contributions into the plan and payments out. The yearly maximum pen- sionable earnings will be 400 in 1U75 and rise to in 1970. In l'J74, the maximum was With the increase in the pen- sionable earnings, the base upon which pensions are calculated is rising. "That means persons mak- ing the maximum pensionable earnings will generate larger the spokesman said. But he added that applicants must make the choice of whether it is better to receive the pension now or hold off and increase the amount they will receive in future. The spokesman said federal officials in 38 full-time and part-time CPP offices across the country have been briefed on how to explain the options. Earlier this year, Welfare Minister Marc Lalonde esti- mated that removal of the earnings test would mean immediate increases for persons now receiving retire- ment pensions and would result in the payment of about additional retirement pensions. There now are about persons receiving CPP retire- ment pensions. A super clearance sale of the latest styled suits, jackets, overcoats, slacks, and shirts. Famous Tip Top quality at low, low prices. Tip Top's finest collection of suits ever! All at fantastic re- ductions. All-wool and polyester blends in a wide selection of patterns, colours and stylings. The best time to save on the best suitsanywhere! Reg. values to SPORT COATS Tweeds, saxonies, checks, stripes and plains. In a spicy collection of pat-' terns and colours. Ail in the latest styles and de- tailing. A great addition lo any man's wardrobe. Reg. values to 49" SLACKS Look and feel great in these comfortable Tip Top slacks. Dress or casual. Bold or light tones. .In checks, stripes or plains. The best slack value of the New Year. Reg. values to MADE-TO-MEASURE BLOOMINGTON, money might be try but fail get back only (AP) Leslie Renner to get to own money. The nine he has found a way to worked with nine of employees also smokers, or at least some 14 get the bonus, provided them, to kick the Renner's system do not start smoking. Renner, president of has manager Les Leslie Manufacturing his pay each year, 30, said he could not Supply Co., is paying a .estimated to keep smoking "when to employees who do a two-pack a day man is willing to give you 50 cents a kind of money to quit." 'I said to myself, who quit smoking cigar-puffing mechanic would turn my people to back at the end of Graham, 52, called the Renner with an equal "a real good policy" but 'We all need a reason. Those who do not for him. SUITS Open a convenient Tip Top Charge Account. CENTRE VILLAGE MALL The finest marlc-lo-measure suit value anywhere. Carefully tailored in our own factory lo save you more. A great choice of patterns and shades. Whatever your build, style or taste... we've go! the right suit for you. at the right price too! Reg. values to TIP TOP Alterations extra on all clothing reduced by or gicaier. PHONE 328-8255 Not rolling in clover Strongman Walter Cornelius, 54, a 224-pound, swimming pool attendant in Peterborough, England, digs into a dish of clover and grass. The six-footer, who performs strongman acts for charities, has adopted the diet since Christmas Eve in an effort to keep down food bills. He supplements his diet with milk. Workers paid to stop smoking Funds must be let ton deposit in a savings account for 90days to be eligible for Ihis back-dated interest. Yourhard years work deserves our safe keeping. You've made the deliveries. You've got your grain tickets. And, what are you doing with them? Have you tucked those hard-earned cheques "safely" around the house somewhere? Well, here's a safer and better place. Put them in the guaranteed security of a Seotiabank vault. If you bring your grain tickets to Seotiabank now, we'll take care of them for you, free, until January 2nd. Then, your Seotiabank manager will automatically open an account for you and start paying the best possible interest into it right away. Your Seotiabank manager will be happy to talk to you any time about your present finances or, if you want to think ahead, he'll tell you about the many ways Scotia Farm Services can help you all year long. Seotiabank. The best place to make your money grow. TheBankofNovaScotia To help you get things done. A. H. Radons, Manager Main Branch, Lethbriclgc Tel: 327-578 5794 ;