CPP/OAS strategy without other pensions You can begin your Canada Pension Plan (CPP) retirement pension as early as age 60 or defer it as late as age 70.…
Read more How to bridge the gap until an inheritance – MoneySenseThe impact of your marginal tax rate It’s important to clarify, Ken, that if you have a minimum RRIF withdrawal with no tax withheld, that does not mean…
Read more How to plan for taxes in retirement in Canada – MoneySenseMany Canadian employers see DB plans, where retirees receive a guaranteed payout every month (sometimes indexed to inflation), as too expensive. And while the average time spent working…
Read more What to do with a small pension in Canada – MoneySenseThe difficulties facing newcomers to Canada with respect to retirement planning are particularly acute. Given how Canada’s immigration points system works, economic immigrants are usually in their late…
Read more New to Canada and no pension: How to save for your retirement – MoneySenseFor example, for income year 2023, the threshold amount is $86,912. If your income in 2023 was $120,000, then your repayment would be 15% of $33,088 (the difference…
Read more OAS payment dates in 2024, and more to know about Old Age Security – MoneySenseHere, we’re focusing on splitting pension income, which can include income sources that are not from traditional pensions. Can you split your income? Here’s a quick table for…
Read more Which types of pension income can be split with your spouse in retirement? – MoneySenseWithdrawing from an RRSP before age 70 Are you thinking you’d like to withdraw everything from your RRSP before starting your OAS or age 70? This way, if…
Read more “We’re set for life. Should we cash out an RRSP?” – MoneySenseRetiring with little to no savings can be challenging, but it is not impossible. Canada Pension Plan (CPP) For a retiree who has worked most of their life,…
Read more Planning for retirement with little or no savings to draw on – MoneySenseWhat are EI benefits? What are special benefits? Regular benefits are paid to eligible employees who lose their job through no fault of their own, JM. Typically, this…
Read more How to qualify for EI benefits in retirement – MoneySenseRRSP vs. TFSA for retirees Now to your question: Should you contribute to your RRSP or TFSA? I don’t know your circumstances, but I can show you the…
Read more Where should working retirees put extra income: A TFSA or an RRSP? – MoneySenseYou generally need 40 years of residency in Canada after the age of 18 to qualify for the maximum OAS pension. The maximum monthly payment as of the…
Read more OAS entitlement and deferral rules for immigrants to Canada – MoneySenseLandmark Ruling by OAS Agency Rejects American Argument That the Land Claims Are Too Old and Fixing Them Would Be Too Disruptive to Non-Indigenous Settlers Living Within the…
Read more Inter-American Commission on Human Rights Rules the USA Must Answer for Allowing Illegal Seizure of More Than 2 Million Acres of Land Guaranteed by Treaty to Onondaga Nation
