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Page 10, News, Wednesday, March 23, 1988 BUSINES S ¥ DIRECTORY Dave Cooper 32 Overpass Rd. Terrace Bay, Ont 825-9360 EXPERTS IN HOLIDAY and BUSINESS TRAVEL 508 Victoria Avenue Marlin Thunder Bay, Ontario AN World-Wide Canada P7C 1A7 W77 T I (807) 623-8353 ' rave Toll Free 1(800) 465-6922 $100,000.00 free flight Insurance with each ticket purchased. CALL TOLL FREE 1-800-465-5922 Owned and operated by World-Wide Travel Service (Lakehead) Ltd. Travel Planners Since 1954 John's Texaco Your service centre Your Mini-Mart for AIRLANE MOTOR HOTEL 698 Arthur St., W. Thunder Bay, Ontario Terrace Bay, Ont. 825-9468 after 5 p.m. Painting, Wallpapering, Trim finishing, Renovations, Plumbing Repairs for gas, car repairs & groceries, milk & Phone 577-1181 i ttes. c Aeneas Banquet & Convention Facilities SERVICE Lg. Heated Indoor Poo! Mon.-Fri. 7:30am - 9pm Whirlpool Saunas ¢ MINI MART Diningroom m Saturday 8:00am - 7:00pm "A guest When You Enter- 825-91 35 Sunday 12:00am - 7:00pm A Bo eed TRAVELLING ANYWHERE? RANDY PINEAULT LET US HELP YOU! . a FUELS LTD. Amer icd serving Marathon, Terrace Bay Travel Agency Lid. and Schreiber. 217 Simpson St. , P.O. Box 964 For fast, efficient and. courteous Thunder Bay, Ont. P7C 4X8 service call: 824-2463 ° , Authorized Agents For ;*t vem ALL AIRLINES! su; : * onset (Esso) Ian Fummerton ITALY and EUROPE TRAVEL SPECIALISTS manager 824-2128 1-800-465-6964 8 pope niece se CONSTRUCTION Contracting invites vie to build your home with us. We offer: -competitive prices ; - custom built homes 5p - custom cupboards of your choice olympic carpets of your choice 450 John Deere Rentals FOR FREE ESTIMATES CALL MEL OR DAN vf Eat 1-800-465-3939 We Make Great Vacations! Corporate & Vacation Planning AMERICAN Travel EXPRESS Service Representative FREE ESTIMATES AT 825-9454 Tilden eee ae - RAVEL ; a 9 Service av Spadoni Bros. Ltd. Cars & Trucks, daily, weekly, mon- thly, & long term leasing. Call Stan at 824-2043 Toll Free1-800-465-3360 cavvibtesinied yess Pee a 825-9653 pve . 825-9169 R.C. TOYS SAVE up to 25% on stock & high per- formance parts & accessories for all makes & models of snowmobiles, motor cycles & A.T.V. Also RC fishing accessories from Eagle, Lowrance & Big Jon. K. FISCHERS FURNACE Repairs & Services Call Kirk 825-9105 Paarl k [a] -- Peele eee elelelelelelelelea * Alcan fespelpelfelfelfelpelpelpelpelfelfelfelpelfelfelfelrelreyfeyfelre) C&S NORTHLAND ENTERPRISES authorized Viceroy Dealer Commercial & Office Rental Space Mini & Maxi Cage Storage Mill Road Terrace Bay 825-9368 = 'SUPERIOR Building ALUMINUM prodace PRODUCTS 'Aluminum & vinyl siding, Seamless Eavestroughing Aluminum soffit & fasia board Aluminum stormdoors & windows insulated replacement # mh windows * Local Alcan Dealer Wally Holman Government sources of retirement income Retirement income is normally available from three sources: goy- ernment, employment and personal. Providing an adequate retirement income requires pre-retirement planning to integrate these incomes in order to obtain income requirements while at the same time, so far as is possible, preserving capital. In this article, we'll discuss government benefits available for retirement. A person who has contributed to the Canada Pension Plan (CPP) is entitled to receive retirement income benefits from the plan. The pension is related to your earnings and is payable in addition to the pension paid under the Old Age Security Act (OAS). A benefit is available at age 65 and is adjusted by 1/2 of 1% upward for each month. you delay the payment beyond age 65 and adjusted downward by the same formula for each month you take an early pension. You may not start the pension before age 60 and the maximum benefit is accrued at age 70. A person qualifies for a full Old Age Security Pension after 40 years residence in Canada after age 18. After retirement, both pensions are indexed with annual increases for CPP and quarterly increases in OAS. The minimum annual bene- fits currently approximate $5,800 and $3,400 respectively. In addition to the basic OAS, a supplement based on income is available. The supplement must be applied for and financial information provided. If you are employed, your employer is required to deduct CPP con- tributions and forward them along with the employer's contributions to the federal government. If you are self-employed, you are required to account for your Canada Pension Plan earnings from employment when preparing your income tax return. , If you are a proprietor or partner, your proprietorship or partner- ship earnings will provide a base for CPP contributions. If you are a shareholder in your own corporation, then it will probably be in your best interest, all other things being equal, if you determine a proper mix of salary and dividends. The proper mix generally begins by tak- ing salary at least to the extent that it permits for maximum CPP con- tributions. Dividends do not provide a contribution base. The Province of Quebec is the only province which administers its own pension plan. The plan is administered by the Regie des Rentes du Quebec. Any person, age 18 to 70 who is a resident of Quebec and who has employment income over a certain amount, is required to make contributions to the QPP. Iudividuals over age 65 who receive a disability income are exempt from contributing. The pension is related to your earnings and is payable in addition to the pension payable under the Federal Old Age Security Act. Contributions to the plan are deducted at source by the employer and both the employee and employer contributions are paid to the Minister of Revenue. Self-employed persons must pay their own contribution. The maxi- mum benefit under the QPP is approximately $6,260 per year at age 65. At age 60, the maximum benefit is approximately $4,380. Beware of "free vacations"' By Maurice Fenelon - Northern Affairs Officer Northern Ontario residerits are becoming increasingly exposed to a new type of shady sales tech- nique offering "free vacations" or extremely inexpensive southern destination vacations. w\ typical sales pitch will involve phoning a prospective client and telling them they have just won a free trip to Florida. In order to receive the supposed free trip, you must give your credit card number so a small service charge can be made to process your trip. This small service charge typi- cally costs $100.00 or more. Consumers are strongly advised to not give their credit card num- ber to this type of business opera- tion. Such vacations are not really free. You must usually pay your air fare, meals, car rental and so on. The free part is a motel room which you cannot be sure of for its cleanliness, reputation, and comfort. Remember, Ontario law does not provide protection if you take such a trip and later find out you have been ripped off. Another approach is to send a card or letter in the mail announc- ing you have won a free trip and must call a phone number listed for further information. The phone numbers are American list- ings. Such consumer sales tech- niques tend to prey on people's sense of fair play and trust in get- ting something free. The best advice consumers can take is to ignore such telephone calls and never give your credit card num- ber over the phone to anyone; it is a dangerous practice. If you should have any ques- lions on this subject or any other consumer-related matter, you may call the the Ministry of Northern Development and Mines, 2 Gilbert Street, Peninsula Building, Marathon, Ontario, POT 2EO, or call 229-1153. For areas outside of Marathon ask your operator for Zenith 33160. 824-3428 MAJOR APPLIANCE REPAIRS Servicing done in your own home to ranges, washers, dryers, dishwashers, fridges, electric hot water tanks and electric heating units. Parts on hand for most makes and models BILL CAMPBELL ELECTRIC 824-2743 OR 824-2574 Servicing Jackfish, Terrace Bay, Schreiber, Rossport and Pays Plat.