Basically RSP's

So basically for example:
There are 2 types of

pension plans:

1.defined contribution:

a retirement plan where

the employer contributes

a certain amount or percentage of money each year.

2. defined benefit: a retirement plan where

employer contributes a set amount based on

a formula that draws on years of service, salary

and other factors.

Here we go: Instead of withdrawing and cashing out the plan

the most sensible thing to do is to transfer it to a RSP get it tax

deffered (that means no compound tax much like an RRSP

or any other registered fund) and ultimately transform it in to

an income fund that will provide a monthly cash-flow. E-mail

me if u want to know more on how to transfer a pension plan

severance into an RSP with AGF with no immediate taxation and

ultimately turn it into an income fund.