Glossary of Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Retirement Age - Usually 10 years prior to normal retirement age (Also see Normal Retirement Age).

Earned Income - For most people, it is the same as salary before deductions for income tax, CPP/QPP, EI, etc withheld at source. Earned income also includes business income and other incomes such as CPP/QPP disability pensions, research grants, royalties, etc. Earned income does not include most investment income, pension benefits, and such.

Employer matching contribution - The amount that a company contributes to its employees' retirement accounts, typically in proportion to each employee's contribution.

Estate - In general terms, it refers to the extent, nature and quantity of interest a person has in real property. It also refers to all the assets owned by the person at death, to be distributed according to the person's will.