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11-29-2012, 08:51 AM
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cbcwpg
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Players on Canadian teams dinged on pension

Players on Canadian teams dinged on pension

http://www.calgaryherald.com/sports/...656/story.html

The NHL pension plan is funded and administered jointly by the league and the players’ association. For the first 160 games of a player’s career, he gets $24,000 a season in his pension fund, regardless of where he plays. But things get more complicated after a player has logged the equivalent of two full seasons in the NHL.

The annual payments jump to about $50,000 a year — the actual amount varies depending on exchange rates — but Canadian tax laws cap pension contributions at $24,000. A Canadian player gets $24,000 dumped into his pension account and receives a cheque for the remaining amount — after the tax man takes his cut.

Darche added that the NHLPA is lobbying the federal government for an exemption that would allow more money to be placed into the pension fund.

“The difference is huge,” Darche said. “A player who plays 15 seasons with a U.S. team will have about $1 million in his pension account, while a player with a Canadian team would have $375,000.”

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