What To Expect When Working in Canada.

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Canada is a rather highly-taxed society, working with a bring-home pay date of mid-July, meaning that we pay more than 50% of our income in taxes and other deductions for salaries of over $85,000 per year.  Working in Canada does has it’s advantages, as when a person becomes sick or injured, they are covered for everything that they need, medication and diagnostics machinery included.  With what used to be guaranteed pensions now in the wind, though, staying out of your company’s own pension plans is more prudent than ever before in Canada.  It is one thing to work for a company, it is a completely other thing to trust your retirement income with them.

A guide to working in Canada would have to start with understanding the deductions that will be taken from your hard-earned salary, as well as the benefits that you will receive in return.  You will be covered for long-term and life-long disability, full medical including dental and eye glasses, and prescription drug coverage in most companies.  Some companies will offer a major percentage, in the 65 to 85 percent deduction range for all incurred medical expenses for you or your family members.  Life insurance and other benefits are offered by many companies, along with physical fitness club memberships and paid education.  Having a family?  Paternity and maternity leave is now over six months ( and that’s for each parent, one then the other, for a full year‘s worth of the child not being alone!).

Working in Canada, you can find that the government has legislation in place to protect whistle-blowers,.  If any inappropriate actions are taking place, telling someone will never cost you your job.  Safety and security is paramount, and sexual, social or ethnic harassment is strictly forbidden.

One of the deductions that you will see on your pay checks is for the Canada Pension Plan (CPP).  When you retire, at age 65 (or sooner, or later, depending upon your wishes and your health), you will receive a “pension” check each month, for the rest of your life, at a percentage of your average earnings while working here.

If you are moving to Canada for work, you should look into a consultation with a pension-fund manager at your new Canadian bank.  You can also buy insurance from an insurance provider to supplement the insurance at your job.  If you are not fully covered at work, you can be with minor insurance payments to another insurance company, at about $40 month or less.

And of course, the best thing about working in Canada, is that you will be working, and living, in Canada!  Welcome home, eh!

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