How much money do you make on odsp

A while back, I wrote an article on how much money you might get from government benefits. Clawback and contribution rules may reduce these amounts. Most Canadians will qualify for some level of Canada Pension Plan CPP and Old Age Security OAS. Heres the maximum CPP and OAS amounts for current years:. Some of the reasons you might not get maximum CPP includes lower contributions because of lower income levels or not contributing for enough years because of starting late into the workforce or maybe you retire early which also means you contribute less into CPP.

Canada Pension Plan is a contributory plan. Basically that means how much you get when you retire depends on how much you contributed while you worked. If you have made at least one payment into the CPP plan, you qualify to collect a benefit.

While it would be nice to get the maximum from the government, not everyone does. As I said in the article that amount represents the most anyone can get from the government. Here are a few examples of why people might get less than the maximum:. It's a little more complicated than this but basically, you have to contribute the maximum amount for at least 40 years over the age of 18 to qualify for the maximum benefit.

For more details, you can visit the Service Canada website www. How much will you get from CPP in retirement? The maximum CPP amount is based on a normal pension at age You can collect the CPP as early as age 60 but at a reduced amount. Inyou will lose 0. For example, at age 60, you will lose To collect CPP early, you no longer have to stop working.

Taking CPP early means makes good sense for most people but it means you will not get the maximum. Should you take CPP early under the new rules?

The best way to find out how much you will get from CPP is to check your Statement of Contributions, or call 1 The closer you are to the date on which you want to begin your pension, the more accurate the estimate will be.

Old Age Security is a monthly benefit available to anyone 65 years of age or over unlike CPP, you cannot collect earlier. Eligibility for OAS is all based on residency and has nothing to do with employment history. It also does not matter if the applicant is working or retired.

If you were resident of Canada for less than 40 years after the age of 18, you will get a reduced amount of OAS.

Three big changes to OAS. In addition to the basic OAS pension, low-income seniors may qualify for other retirement benefits such as the Guaranteed Income Supplement GIS and the Allowance. The threshold for low income depends on whether you are single, married or widowed. Again, few people qualify for the maximum GIS. The difference between CPP and OAS.

The rules for government benefits are not easy to understand. For more information, contact Service Canada. Written by Jim Yih Jim Yih is a Fee Only Advisor, Best Selling Author, and Financial Speaker on wealth, retirement and personal finance. Currently, Jim specializes in putting Financial Education programs into the workplace. For more information you can follow him on Twitter JimYih or visit his other websites Group Benefits Online and Advisor Think Box. I was forced to retire prior to turning 65 due to ill-health.

So, I retired and am fast approaching my 65th birthday, at which point, as everyone has told me, I will lose whatever CPP has been sending me each month. I was a provincial employee and paid into our pension plan.

I receive a cheque from this fund. I applied for early CPP and receive a cheque from CPP. Gloria It is unclear to me whether the CPP that you are currently receiving is the disability pension or the early retirement pension. If it is an early retirementy pension, that amount will continue to be paid to you until death with annual increases for cost of living. If it is a disability benefit, that will convert at age 65 to a retirement pension at a lower rate.

Why does the CPP-Disability Benefit end at age 65 and convert to a much smaller amount. I mean am I somehow not disable anymore? I receive a provincial pension and the clawback is calculated when I retired, independent of my CPP. It is a little higher than my CPP at age 60 but does not start til age 65 so I feel it is to my benefit to receive CPP for 5 years with no clawback. If you wait til 65, CPP will be bigger but you have lost 5 years of CPP at the lower rate.

I calculated to breakeven at age 76, if I am still alive. You Canadians have it made. I wish our government could get it together for retirees. My parents are suffering bad and I help all I can. Yes, we Canadians have certainly become accustomed to some wonderful advantages for living in Canada … health care and post retirement assistance however they are not free.

Does the calculation of the benefit before the penalty at 60 count the years as no income for the average? In other words, can they bring down the average? I am thinking of someone who turns 60 and can choose to stop working early but has less than 40 years of contributions. Mike If someone applies for a CPP retirement pension at age 60, their contributory period ends then, thus they will not have those 5 years of zero income reducing their average earnings for benefit calculation purposes.

Jeff you are correct and do not worry. The Fed and Provincial Revenue Agencies are watching you like a hawk. This often results in big tax return over payment claw back. The revenue agencies often over pay GIS and Provincial GAIN payments only to send you a huge bill at tax time.

Denyse Owning a house or condo or any other assets does not affect GIS eligibility. The only 3 factors are: I already receive a pension from my workplace of 33 years. When I reach the age to get old age and cpp do i lose this amount from my workplace pension?

Tony You would have to get that answer from whoever administers your workplace pension. Other workplace plans are independent from government benefits and may not be reduced at age 65 or when those government benefits start. Before this time it is called a bridging pension.

I just wanted to thank you so much for such great information. I still have a few years to go but it still helps to be informed. By the time I retire things will totally be different because the Canadian Government likes to change things without our input. Great info Doug, thanks a bunch. For example one of my neighbors just turned 65 gets max CPP benefits but I mentioned what about OAS, he was clueless.

Apparently when you apply for CPP whether earlier or at age 65, OAS is not received until you separately apply for it. And the good thing if we can say anything for the governement, they told him once you apply for OAS it is paid retro-actively from when you apply to that starting age of Will they be poverty stricken because their contribution to society was in the area of volunteerism not measurable in GDP or dollar earning exactly?

Has the government thought of rewarding volunteers for their equally important, but not monetarily measurable contributions? Has there been some thought given to that by the government to your knowledge? Since most communities have a lot of non-profit organizations and charitable efforts, we see huge numbers of people volunteering their time, sometimes they are unable to find work and volunteer in the meantime, but some forego a salaried job for the growth and benefit of their community and community organizations.

Some of these people are well off due to spouses working, but some live a meager existence, yet contribute hugely to the social fabric of their communities by their dedication, hard work and sacrifice. This is not being recognized at pension time, yet hours and hours of time are devoted to their country and community without a measurable monetary input. Would love to hear your thoughts on this. Are stay at home moms considered volunteers under this program?

Staying home with children is not volunteer work. It is a choice. You should save all of the money you are saving from not paying for childcare. If you start your CPP retirement benefit prior to age 65, for that amount is reduced by 0. Your CPP payout is not dependent on your income after CPP retirement.

If you take early CPP at 60 yrs old and subsequently live past 80 yrs old you will then be losing money on your lower CPP payment after 80 yrs old than if you receive full or close to full payout at 65 yrs old.

DO the math yourself at zero interest rate. Never forget to consider your tax deduction benefits after 65 yrs old which total about 19K in deductions plus the ability to income split with your spouse. You do not have these deductions at 60 yrs old except for personal basic exemption.

Once again be very careful. YOU CANNOT reverse your RIFLIF and CPP decisions after you commit. I was told by a gov. If that is true you would be better off knowing about the system when you call or read the system you get different answers. Sad system people moving in to Canada knows more about the details the we being bon here BIG? I would like to start collecting my pension at Will I get some GIS if I have some bank interest? At that time, the amount of GIS would depend on your marital status, your income joint if married or common-law and how many years of residence you have in Canada.

I hope this helps? How in hell can any two, retire on an income making a couple of dollars more than 21, Not all people in their days of struggling to make a living by working dam hard coud save for a great sum of monies to lay back and live on in time of retirement.

Yet there are ways for some people to get GOV. Good luck for those who can God Bless Those who cant. Doug, the replies you have provided to everyone have been so much more helpful than anything I can find on the GC.

When younger, we lived overseas for over 15 years so can never get to 40 years. With 27 years of Canada residency by 65, your The importance of these questions is that the year rule is only one way of qualifying for full OAS. We both returned to Canada in So neither of us was age 25 in Jess Thanks for the additional details. Allowance benefits are not taxable. I was rather hoping it would be around that much. I had no idea that I would need proof of my entry back into Canada. I went back to the border to see if they would stamp my Canadian passport, and they refused.

How am I going to prove I have been here for 10 years without that? Someone told me I needed proof! I have worked the last eight years, and will retire at 65 in two years. I have my taxes for all years, and worked at the same job for seven years.

Not sure what to do when my time comes. Any information would be appreciated! The government is pretty reasonable about what they might accept, and the main thing might be that nothing contradicts your dates. Things that they might consider are lease or purchase agreements for your housing, a letter from your employer sutility records, tax returns etc. I have worked every summer in Canada since I was about 12 years old through high school and every summer I was at university contributing to CPP etc…Then after I graduated from university in I worked full time till when I left Canada to work abroad.

If I return to Canada in at the age of 55 with my wife 43 who is not a Canadian citizen and who has never lived in Canada what sort of benefits will I be eligible for in Canada assuming both I and my wife work till the age of 65 once back in Canada? Is the amount of GIS one can get according to number of years in Canada? I sponsored my parents here, and they will be here 10 years next year.

Assuming their income is nil, what amount will they get in OAS and in GIS, and will this increase as they live longer here, e. They are both 80 years old. I work in Canada on a contract basis but I am considered as a non resident tax payer.

From what I can see is that as I am paying tax I should therefore be paying CPP contributions. My question is that I do not know if I will be working in Canada till retirement age, So if I for example only contributed for 5 years and then stopped working in Canada do lose the money I put into the CPP or is it kept till 70 years of age and then paid out? For the most part however, CPP contributions are not optionable. I can answer your questions on benefits however. If you make even one valid contribution to the CPP, you will be eligible for a retirement benefit.

It is not paid to you automatically at any age though. You must apply for it and you can do so as early as age If you apply before or after age 65, that amount is adjusted down or up by an actuarial adjustment factor. I hope this answer helps a bit, but your first enquiry should be to RCT to find out if you must or may contribute to the CPP, based on your earnings and your status in Canada. Hello, How is GIS calculated: Allan GIS is based on income only, and not on assets.

You are right, Doug. This is unfair to GIS to people who never contributed in Canada. This system work perfect in Austarlia. Allan Not exactly why I considered the GIS to be unfair, and not exactly correct. GIS is only reduced by 50 cents on the dollar for any CPP benefits received or any other incomeso you would always be better off to have worked and contributed to the CPP than not. Hi I have an Ont. I am turning 65 next July and wonder what I can expect from the OAS.

I am applying for CPP and OAS pension. I turned 65 just over a month ago. We are both working and will continue to do so. I will continue working full time and she is working half time. Hi Don, OAS is based on residency. If she was resident of Canada for 40 years between the age of 18 and 65, she is likely to get maximum OAS. You can call Service Canada to see how much OAS she qualifies for. Thank you for your reply, Jim. Based on your reply she should qualify for the maximum as she has lived in Canada all her life.

The claw back on OAS begins at around 70,; would I be effected? Is the clawback based on your income tax filing? OAS clawback is based on individual income, not combined income.

I am 64 and my wife is If my wife qualifies for the Allowance she has not lived in Canada for 10 years and would have to use U. The amount we as a couple would receive looks to be the same, whether it all comes in the form of OAS and GIS to me, or whether she gets part as an Allowance. I would however recommend that you confirm those calculations with SCC. My spouse and I are pension splitting. Do I have to make note of that anywhere?

Alf I believe that GIS will be based on your total U. Social Security, but I would include a note about the lower taxable portion just in case. Because the income that you report will be compared to what you declare on your tax returns, I would clearly note who actually received the pension amounts, and that you are splitting it differently for income tax purposes.

My wife applied for the Allowance 14 months ago. She has called Service Canada several times to check on the application, and was told that the delay was caused by needing U. When she called on Friday, she was told that the U. My wife sent a true copy of her landing document with the application and nothing else was requested.

I thought they required a consent form for that. Any idea what information they need from CIC? I know that it takes a long time to process applications that require any of the international agreement, but 14 months to even request those records from the U. My apologies for the bungling by Service Canada. Doug, my wife called Service Canada again and this time was told that the inquiry to CIC was to see whether she was sponsored.

She was not; she immigrated to Canada in the Skilled Worker category. I am retiring in July 31, 60 years old ; I am presently employed where I pay the maximum CPP and Unemployment insurance by the month of June. Will I get a rebate for the five months Aug 1 to Dec 31?

As for CPP, prior toyou would have been eligible for a refund if you applied for your CPP retirement at age 60, as that would have been the end of your contributory period.

Since however, you are required to continue contributing on any employment earnings until age 65, regardless whether you apply for your CPP retirement pension early or not. I have read here a number of times that it is necessary to have 40 years in Canada to receive full OAS.

I think this means that someone who left Canada in his or her 20s, then returns to Canada to retire, can get full OAS after being here for 10 years. Frank You are basically right in what you say, and thanks for pointing this out. There should be no concern however, if someone who can qualify for the old or new rules ie. Such a person would always be given a choice between taking an immediate partial pension under the new rules, or waiting until they qualified for a full pension under the old year or 3-for-1 rules.

I applied for OAS based on the above formula born beforelived in Canada beforelived in Canada last 10 years. All I could think of to send to prove that I arrived in the U. Social Security statement showing that I started contributing in the year I left Canada. I also provided the name and address of a U. Any idea if that will be enough? Is your actual departure date that critical in coming up with those 3 years, or do you clearly have much more than that? I called Service Canada and was told that a full pension had been approved to start the month after my 65th birthday.

So…everything turned out well. Once you start receiving the GIS… what lines from your income tax return do they use to determine the amount of your GIS. Thank you so much for very useful information here.

I wonder if there are any conclusions regarding what is more beneficial for a couple not married, both in Canada all their lives, 4 years apart, with no income past 60 years of age, to apply as two singles or one common law?

I assume this is legal to do, since we file taxes as singles. Gabe You ask a very good, but difficult question. Thank you Doug, your kind input it reinforces my own calculations of reporting a common law spouse, since I turn 65 and she is 4 years behind. And, after a 35 year period of cohabitation, the choice becomes obvious….

I am 65 and still working, having spent the previous 21 years as a Canadian resident. As yet, I have not applied for either CPP or OAS and intend to keep on working for a year or two. Is GIS a possibility for us?

Elizabeth You have a very interesting scenario! Starting Julyyou will also benefit from a 0. I hope this information is sufficient for you to decide what to do for now, but if you want more detailed calculations on your CPP options, you would have to email me at DRpensions shaw.

Just a quick question guys. My dad turns 65 in 3 years. He is currently getting CPP since he was 60, but at a very low rate. We are selling our current house and he is thinking of purchasing a condo. He would have little income, since if he does not buy the condo, he would assist me with the money for my place.

Tom Whether your dad owns or rents will not affect the amount of his CPP, OAS or GIS entitlement. The only possible impact if he sells his current home would be if he invested the proceeds and generated some income that might reduce his GIS entitlement. My husband, a number of years older, has a good pension. I also work on-call, and contribute to the CPP still.

Should I apply to start these pensions at age 65? If your question is the former, you should check out these two articles: If you want accurate calculations of your CPP at various ages to help you decide when to start receiving it, email me at DRpensions shaw. I thought that I replied a couple of days ago, so my apology for the delay in this response, and my further apology if a 2nd similar reply eventually shows up! If the former, I would suggest that you read these two articles, and then get back to me if you still are uncertain: You paid for your CPP directly through your contributions and you paid for your OAS indirectly through your federal tax dollars.

So again, no guilt! The CPP is an employer based pension not a government pension. I believe Michael Campbell is near 65 and I have no doubt he will collect any CPP…. Dougs info is all correct except in my opinion regarding OAS when he says you PAID for it. The problem Michael Campbell points out is this and the explosion of those reaching 65 with life expectancy so much longer now. Currently 2 age 65 people start collecting OAS for every 1 over 65 who dies.

I think more correctly, you paid for other seniors during your working years to have OAS and now its your turn to collect. Notionally though, we are still paying for long dead seniors OAS pensions, as some portion of the national debt must have been previous OAS payments. Hi Doug,my dad has been approved the OAS, and he also waiting for GIS approve, my question is his EI benefit just approve at july, he apply at march however, if he received EI now is affect the GIS qualify?

So should he stop to receive EI,? So headache at this point. Plus, when the EI stops, he can be paid on his estimated income after that time, so it might not even reduce his GIS at all. Would anyone be willing to talk to me about my alternatives one-on-one?

I am hoping to view the same high-grade content by you later on as well. At that time, you will be eligible for GIS based on your estimated yearly income after that date.

Thanks so much for the info. I call GIS today and I understand gis is deducted dollar for dollar of the amount of rrif withdrawls. Also they said it takes about 30 weeks to process a gis request.

I was told by them today that I should fill out a estimated income in march and an estimated income for now. Its all very complicated. Can you clarify the procedure and wait time—30 weeks sounds like a very long time to wait for a decision inThey also told me that I probably would not qualify for any money in because of the 6k rrif I withdrew in Even though they deduct salary and ei in their calculations, my income would still be apx 16k for disqualifying me for the gis.

Should I withdraw more now and save it for the 30 week waitng time inas I will only have about a month to live on after the EI runs out?

Michele GIS is NOT deducted dollar for dollar for RRIF withdrawals. RRIF income is treated the same as any other income and is deducted for the most part by 50 cents on the dollar.

I would wait until your EI stops, and complete the estimate form then. I lived in Canada for almost 15 years, from Sep 71 to April 86, came as a student, became landed in 72, citizen in 75, worked starting 72,contributed to CPP, moved to US in 86, worked there and am living there till now.

You must apply if you want to receive either CPP or OAS. Could you please ichimoku trading system whether or not the savings I have in the bank will affect wellington stock brokers much I receive in my Old Age Pension or the supplement?

If your income is low enough to qualify for GIS, most types of income including bank interest will reduce your GIS entitlement. We completed ISPbut they say since my income is set to zero, leaving my wife at positive, we are penalized. Why bother with ISP ? All my life lived in Canada. We have other inc. If not then any suggestions how we can figure this out based on the current ideas for earning money for charity I could help you for a fee if you email me offline at Which nfl team spends the most money shaw.

Hello, Please tell me the following: I just want to know the difference between single person and married couple. Doug, you are correct. How much GIS they will get as a couple and separately when without additional income? Based on receiving full OAS: I have a question for you. Allan Not at all!

Hello Doug, This is off topic but this is insane. One person pays taxes, EI, CPP all his life and tried to save some RRSP. Thank you for apple backdated stock options help. Hello doug, My chinese yuan currency exchange rate forecast is receiving the GIS since last year at oct he was 65 at july ,so my apply allowance at last year oct last year, she is already 60 from feb 28, but now still not reponesedo you know how long she will have result normally?

Hello doug, My father was receiving the GIS now, and also my mom apply the allowance at last year oct, she is 60 at feb 28so do you know when will she get a reponese and what is the maximun time waiting? Her first Allowance cheque should be payable at the end of March month following her 60th birthdaybut she should likely have heard something by now.

I would suggest phoning Service Canada at to make sure that german ifo business climate forex have at least received her application and to see if they need further information or documentation.

Hi Doug, My mom is still not get any letter,should she call them or wait til Apr 17, because she apply in person at oct 17? I am a Canadian citizen, but have never lived in Canada or made any income in Canada. I do plan on retiring in Canada is there any benefits that I can receive?

I currently live in the US. You will begin to qualify for the Old Age Security OAS once you start residing in Can a donut shop make money. I didn,t recieve any monthly canadian benefiets before.

I have some question: Do i have benifites for the previous 27 year? If i have how can i recieve them? If you worked and contributed to CPP for any of those years, you will be eligible for a retirement pension when you turn age 65, or a reduced amount as early as age Hello, My husband and I both collect CPP — and My question is, my husband turns 65 in two years, and I will be When my husband starts getting OAS then will I be eligible for anything until I reach 65?

And when we are both 65 and have only this income and OAS, would we be eligible for GIS?

Ontario Disability Support Program (ODSP) | THE TORONTO ADULT CYSTIC FIBROSIS CENTRE

I did phone Service Canada but it is always hard how much money do you make on odsp get info. Based on your current CPP amounts and the current OAS rate tables and assuming that you both have at least 40 years of residence in Canada after age 18 here is what your entitlements would be.

When your husband is age 65 and you are age My dad is currently collecting partial OAS. My mom is not a Canadian citizen and currently reside oversea. My parents are still legally married. As far as I understand, GIS is calculated based on the marital status.

I am just wondering if my dad is considered as single or married in this case. Based on the fact that my mom is not a Canadian resident, how can I complete the GIS application form for my dad? Or simply write non-resident under her name. I have talked to the staff at Service Canada office but they are not really helpful.

Doug, thank you for the clarification. My parents have been living apart for years due to financial reason? Back then, My mom was unwilling richard carlson dont worry make money give up her job back home.

I am not sure if this falls into the separated status category. Now my question is…. When my dad filed his tax forhe stated he is married. Would there be a problem if he applies as single for Rajesh joshi stock market courses pune which the marital status did not match the tax return for ? Some of the questions that might help define their status would be: Once he decides what his marital status is, your father should certainly be consistent in how he claims his marital status, especially to various government departments.

For instance, what will happen when one of them dies? Never been married or partnered. Will I receive GIS. If so, about how much? With the income that you describe, you should be eligible for approx. I have been told that someone who has never worked will end up with the buy or sell caterpillar stock amount of income as someone who is getting cpp retirement old age and income supplement is this true.

You are quite misinformed. That is the least that anyone who has lived in Canada for at least 40 years after reaching age 18 should receive at age If they worked and contributed to CPP, they would receive more than that amount. Doug — your knowledge is such an asset for many at such times as that approach to Retirement Life. With me — it has been several years of illness and depending on the support of a working spouse thankfully to get us through. I am weeks away from my 65th Birthday and am very vague about finances will be coming together for me.

I have only lived in Canada 15 to 16years. There should also be some pension eligibility from time spent in the UK. My wife is a Permanent Resident and will hopefully be applying for Canadian Citizenship next year.

Thanks for any advice. If so, you may also be eligible for GIS and your wife might also qualify for the Allowance. Doug — thanks for the response.

I have been getting very little from CPP but considering that I had returned to UK to look after elderly family, and also that I developed major illness myself — I am no doubt getting what is due to me. However, I have recently applied for partial OAS and they have turned me down- I think they are questioning my residency years in Canada.

I just wish that I had more evidence to show them but they are actually wrong — thinking hsbc hk buy us stock to be less than 10 years here when in fact I am close to 14 years.

I might have to turn to my local Federal M. Thanks for your help. Hi, I am helping my parents to fill out all the forms and apply for anything they are eligible for. It so confusing, and I need help. My father is going to be 65 in Mayhe was full time employee so he made maximum CPP contributions. He also has pension plan from Manulife at his work place. My mother will be 65 inshe is self-employed and as per advise of her accountant never woodstock market woodstock ga any CPP contributions.

They want to start their retirement as soon as my father become I am getting confused with retirement sharing between spouses. I need to know if they should apply for CPP, OAC, GIS and allowance together or separately and which exactly forms to fill out in order for them to receive everything they are eligible for and to maximize their benefits.

I think you should contact Service Canada for some assistance, but in a nutshell: I would love some advise. I just turned 60 and I am considering going for the early CPP. My employment is a mixed bag of working, child rearing etc. Then a divorce and raising 4 kids on my own … not working. Honestly, with such complex formulas I have no idea what I might expect to get at 60 or even 65 if I decide to wait.

If you have a recent copy of your CPP statement of contributions, I could do some calculations for you for a fee to help you figure out when to take your CPP.

Also, that a woman who makes the decision to stay home and raise children is once again ripped off good and proper in this scenario. I guess my lawyer, whom I had to pay a fortune to was worse that I had already decided.

This non-taxable child support situation worked great for my ex but has been a disaster for me in the long run based on what you have told me.

The current reduction for taking CPP early is 0. The reduction factor is forex trader pro stop loss yearly, and will be 0. I will email you but the reason I am considering losing big-time and taking early CPP is because my financial situation is not good. Pensionable earnings means your earnings from salary or self-employment on which you pay CPP contributions.

Average monthly pensionable earnings AMPE means your average lifetime pensionable earnings, after adjusting for inflation and after any applicable CPP dropouts. You can read more about the CPP calculation here: Quite by chance I remembered that I had gotten something from the government last year and dug it out. IF you take that number, add OAS, CRP and PS. Child ending ; Child ; and — ending If I stay in the country I will also typing to earn money GIS.

If I head south without GIS will tax still be withheld if the CPP and OAS are my only income? Stock brokers in canton ohio Doug I have how to get onyx big money medal in gears of war 3 applied for gis on an estimated income for for I was advised by them to empty my riff which was aboutso I did.

They explained that the riff withdrawal would be forgiven as it is now at a 0 balance I enclosed the documentation to prove the 0 balance I hope they directed me correctly Do you have any idea? I currently receive monthy cpp and max oas total monthly income apx How much gis do you think I may receive? The govt told me about a month, Livestock genetic marketing services battle creek mi have trouble believing anything as they seemed confused and every time I call I get a different answer Please Help.

The answer to your question depends partly on why you were being paid GIS on an estimated income, and whether you were making regular withdrawals from your RRIF until it was finally depleted or whether you simply made that one lump sum withdrawal to deplete it. If you were making regular withdrawals and you ultimately depleted your RRIF, that in itself could trigger being paid GIS on estimated income.

If however something else triggered the estimated income and you coincidentally just made this one-time withdrawal from your RRIF, it will likely be considered as income after your estimate and will reduce your GIS. Thanks for your reply Jim. No I did not get the name or date of the person. I withdrew in 3 payments in July August SeptAll google finance stock market quotes news currency conversions these amounts are gross amounts.

This is not good news for me for sure do they deduct dollar for dollar Is there ever exceptions to this rule?

Would it affect my gis for Jan or only ? This is all so complicated yuk. Did you have any other income that had stopped or reduced, or was the RRIF withdrawal the reason or trigger for the estimate? Did you also make any RRIF withdrawals inor were these 3 withdrawals the total amount of your RRIF? Income in would normally affect GIS for the period of July to Juneand it would normally reduce GIS by approx. Being paid on estimated income makes the effect immediate though.

I can have a choice of taking one payment instead of monthly pension from my firm that I worked for some number of years. I will pay a lump sum tax on the payment. Hi, Doug, I am on LTD from workplace. As required by the insurer, I must apply CPP Disability benefits. I am currently 59 and would like to go back to work, possibly in years. I heard that the CPP Disability benefit will reduce my CPP retirement amount then without CPP Disability benefit had been received in the future.

Hi there, I am retiring at age 65 in 16 months. I have no other pension as I have been self employed. The next ten years if I make it that far I would survive off the equity in my small condo. I hear terms like claw backs etc and I wonder if I would be affected by them?

You have stock gumshoe motley fool options situation completely reversed.

I have a municipal pension plan,that I will get when I retire. I have a pension plan from my dear departed wife. I am collecting right now a combined survivor and my cpp pension. If you want me to do this calculation for you for a feeemail me at DRpensions shaw. Can you please tell me how much GIS I will be eligible for when I am 65 and collecting OAS next year. I have no other pension income, RRSPs, etc. I have looked everywhere on the Revenue Canada site for the table to how to get money on avatar farm how CPP is worked into the GIS formula.

I thought it was announced at the beginning of Nov. My parents are turning 65 early We came to Canada as permanent residents inmy father was the only one who actually worked and is has already submitted applications for CPP and Old age security etc.

My siblings 28, 24 are now thinking about their future, my mother never worked a day in her life here in Canada, as she took care of us. Google finance historical currency rates she still entitled to some government help?

What would both be getting monthly from government to survive? Your parents will both be eligible for OAS, as it is based on the number of years of residence in Canada, not on contributions. Depending on what other income sources they have, they may qualify for some GIS Guaranteed Income Supplementwhich is part of the OAS program. Actual share acquisitions in open-market repurchase programs, it is based on his contributions, so if he contributed less than max each year he will get less.

Depending on their combined total income they may be eligible for some guaranteed income supplement can a donut shop make money details of their total income would be needed to estimate this. OAS is not included in the total income.

HiDoug, My parents is currently received GIS benefit, if they plan to sell the condo they are living there ,and wants to buy another one. Stock brokers in canton ohio question is if the new property is same price or maybe a little bit cheaper than they live one,will government investigate if they have earning after selling the property?

Is there any affect to their GIS benefit? GIS is affected only by taxable income, and the sale of their primary residence should not create any taxable income. If the new condo that they purchase is significantly cheaper and they invest the balance, that could create some taxable income which might reduce their GIS a little bit, but they would still be ahead by having this extra income.

In that case,the government will investigate it and affect to GIS income. Thank you for the reply. They should be sure to name each other as beneficiaries of the account when completing the account documentation. Can anyone explain my position, I have been living in Canada since and became citizen in I have worked only briefly in Canadapossibly about 1 year due to my age factor and trying to start a business.

I am going to be 62 yrs in Jan and would like to know whatif any pension and other benefits i can expect? When you turn age 65, you should become eligible for OAS. You may also be eligible for some GIS at the same how to buy stock in mcdonalds, but the amount will depend on the age of your spouse and your combined income at that time.

Hello, I was badly injured in a MVA,which happened in Canada, IN I want to retire, 3 years from now, at age 60, and I have two questions: Based on 12 years of contributions at approx. You should request a copy of your CPP statement of contributions from Service Canada though, to see what their estimate is.

Unfortunately, your 26 years of non-contributions does count against you, unless you were receiving a CPP disability pension during those years. As I mentioned before, my wife applied for the Allowance nearly two years ago. She was about 8 months short of 10 years in Canada, and U.

My wife questioned how the overpayment could be more than the payment, and the woman said it just was. She suggested that it would we would be better off to just drop the application. They would even be further complicated if you are receiving a partial OAS yourself less than 40 years of residence in Canada after age What I recommend is upton ky livestock market you ask them to send you a letter explaining their calculations.

If you want me to analyze your numbers further for a feeemail me at DRpensions shaw. I will be turning 60 in Oct. I am married and my husband will not be retiring for another years. Will his income affect my CPP?

Thank you in advance. My wife is turning 65 in November and is currently receiving a reduced CPP while still working 3 days a week. Should she transfer her RRSP to a TFSA. I realize that this will result in withholding taxes but the logic is to qualify for GIS payments. In my case, I am also receiving a reduced CPP and have no other income. I will trading engulfing pattern forex 65 next year March and I have applied for the Allowance.

Any thoughts or suggestions would be greatly appreciated. Thank you for your time! Money makes me happy essay, whatever you and your wife do with your RRSPs from this point forward, they will reduce or eliminate your GIS eligibility for at least one year. The best strategy from a GIS perspective might be for you both to keep your RRSPs intact until age 71 unless you need the money sooner and then to both withdraw all the money in the same year and accept that you will get little to no GIS in the following year.

I wish that I had better news for you, but perhaps someone else will have a different suggestion? I am 60 years old this forex foreign exchange dealers and have been working on procedure of buying and selling stocks off since We were a landed immigrant in March and because Canadian citizen in Will my husband and I be receiving more by the time we are 65?

The amount will vary by individual based on how much they have worked and contributed since age When you reach age 65, you will become eligible for OAS and possibly GIS, so that you will probably receive something like your in-laws in total.

Your GIS starting Sept would normally be based on your income, but if you have monthly rif payments that will be ending in Sept you stock price market capitalization contact Service Canada to request that you be paid on your estimated income after the rif payments stop.

Hi I am turning 65 in dec. I receive early cop at How much gis should I get when I turn 65 and how much gis would I get if I stop working. Hi Doug, I am My contract stopped in end Now I receive unemployment benefits to October When do I have to apply for GIS and how much can I expect to receive?

You should apply for GIS immediately, and you may be eligible retroactive to the month following when your employment contract ended. Fbar reporting stock options, I can not apply now. So to end of September I am ludacris ft pharrell money maker mp3 download. I am interesting how much GIS I might receive when I stop to get EI from October From this date my income will be: I do not have any other income.

Your wife will receive a little less, because she has a little more OAS. When your EI stops, your GIS should increase to approx. Hi Doug, great and informative site. I have a question. I recently sold my house in Canada parents lived with me and moved to the US. Because my parents are seniors retired they will not have medicare like they have in Canada so I purchased a condo for them in Canada with a small mortgage. In order for them to be able to get a small mortgage I had to be discount lack marketability put option guarantor and have my name on the deed.

Hi, I am turning 65 on coming December, my wife is 63 now and on ODSP, should we apply for OAS together or alone, I am thinking to apply now and she will apply laterwhat is more beneficial applying together or alone. The only advantage to waiting is that your OAS will increase by 0.

Could you explain how rifs work. I was told it was a good idea to transfer rrsp to rif at Is this a good idea? Hi Doug, Thank you for such a great and informative site.

I have some questions here. My understanding is if trading volatility forex stayed in Canada more than days during that calendar year, then that year is counted toward his residency requirement.

For example, my dad came back to Canada on Mar 26,left on Oct 2, so he was in Canada for more than days inbut after that he came back on Apr 12,and left again on Oct 15, Janey — For OAS purposes, residence is not determined simply by spending days or any other number of days in Canada.

When someone regularly spends times in two or more countries, the first part of that definition requires an analysis of which country is their true home and which country are they visiting.

He lived in Canada for 28 years. Yes, your father will continue to be eligible for OAS after he leaves Canada, as long as he has at least 20 years of residence in Canada after he reached age As a follow-up to my previous reply, your father may be eligible for GIS starting the month after he retires, based on his estimated current income.

This GIS eligibility will end however, six months after he leaves Canada. I lived and worked in Canadapaid into CPP, moved to US and started living there since I paid into US Social Security while working in the US. Did not work outside of the US since moving to US. Now retired, getting CPP payment for my Canada days. Why would US SSA reduce SS payments because of CPP payment when my stay and contributions to each country are distinct and separate periods, no overlap, no cross-border employment.

The way that totalization might help you is that you may qualify for some OAS pension from Canada by combining your 5 years of residence in Canada with 15 years of US contributions in order to meet the minimum year threshold to qualify for OAS from outside Canada. The amount of your OAS will however just be based stock price market capitalization your 5 years of residence in Canada.

Recommend that you correct this article or delete it. This is a single person who receives ZERO CPP. In your scenario, for someone who is single they could receive approx. Also another thread should be started for the complicated subject of pensioner survival benefits. It is worth mentioning that the Ontario Trillium Benefits provide more funding to pensioners.

Some of these benefits are universal and others are based on income. Perhaps a new thread can be started to explain Provincial Pensioner Benefits as well as the really complicated survival benefits for all pensioners. This averages out to A spouse between the ages yrs can receive Allowance GIS if the pensioner spouse receives OAS plus GIS.

Here is the payout if the pensioner receives FULL CPP and has no other income I have question for Doug. I am now almost I look forward to get Old Age Security pension or whatever it calls.

Now comes the question: If you have limited other income, you may also be eligible for GIS. Read this article for further details: I am an immigrant to Canada.

If I defer the benefit for 12 months, I would be eligible for an additional 7. In other words, would my benefits be increased by 9. It counts as one or the other, usually which ever way helps you the most. Read this article for more details: I am single and have lived in Canada for over 40 years. Can I get GIS while living with him and if so how much approx. Thanks for the quick reply Doug. I always thought that the amount is lowered as I am living with him and have less expenses otherwise.

I am trying to figure out what my retirement in Canada would be at age I am not sure how to figure what my OAS and GIS with 10 years residence in Canada. For the all the information or chart refer to max OAS. I am not sure if the GIS prorated as well.

Will I be able to draw these benefits residing outside of Canada? Based on 10 years of residence in Canada, your OAS would be approx. The GIS is trickier. Will the US social security agreement also cover the 10 year minimum for OAS if you apply outside of Canada, and this US time being considered was before you had legal status in Canada? My question has to do with my parents. They will be turning 65 in 2 years and they have been in Canada since December Can you please tell me what they may get at 65?

Hi Doug, I am 47 and a person with disability PWD. I am got dollars each month. When will CPPD replace PWD and how much. Your provincial PWD benefits will never convert to a CPP disability pension, because they are totally separate programs run by two different levels of the government.

If he collects CPP at 60 at the reduced rate, will it even be less because he will continue working? He has been a college teacher for 28 years now Thank you. In fact, each additional year that he works will increase his CPP through what are called post-retirement benefits PRBs. I worked in Canada from through for a total of 3 years.

I contributed the maximum allowable amount to the Canadian Social Security and Quebec pension plans. I am an American citizen and live in the US. Would I be eligible for any canadian benefits because of my contribution to the Canadian System.

The US SS shows 0 contribution for those 3 years on my records. How do I go about claiming them. Sorry, I thought that was just a terminology issue, as there is no such thing as Canadian Social Security.

Those contributions are what will buy you the retirement pension amounts that I mentioned. The other federal social security program in Canada is the Old Age Security OAS.

I will be 65 in August of this year I took early CPP at 60 and receive The past 2 years about 16, Could you please give me an idea of how much I will get in OAS, if I can get GIS and any other information that may help me. Thanks for your reply Doug. I think I would qualify for GIS…as my total income on my tax return was 16, If you have any income, GIS is reduced by approx.

Is this thread still active? Anyway, I have a question I think should be fairly simple for somebody knowledgeable. Please help me if you can. My parents have lived on and off in Canada for the past 15 years helping raise the bright young canadian future in the process. They are over They got their residence some 6 — 7 years later. So the question is, do the years they stayed there before being legal residents count for the 10 years needed for partial OAS?

Thanks for the quick answer. Better, I might say, than the documents they provide at the government site for these things, which let one scratching his head on a few points. That was my guess too, from what I read at the government site and in a few other places on the Net, that the non-legal period also counts. Before I get into other details, somebody please remove my last name from my previous post if possible.

Except for about 2 years when it was the other way around.

Do You Qualify For The Disability Tax Credit? | Disability Living By The National Benefit Authority

So, your guess about how Service Canada will count these years would be highly appreciated. Although the OAS legislation is very subjective, there are certainly policy guidelines for the staff to follow.

The type of factors in the policy guidelines include: Practically every point you list is a minus. Tow month ago I submitted application form for GIS and a Service Canada office worry me I have to wait from 9 to 27 weeks. I have some TFSA.

Can government tell me spend this money before I can receive GIS. GIS is based on your income as reported on your madatory annual income tax return including foreign based income.

At present proceeds from the sale of your primary residence and use of a TFSA are not reported as income but capital gain tax laws can be revised at any time of a governments choosing. You must be eligible for OAS to receive GIS and residency requirements are made at the governments lawful whim. GIS is now automatically processed from your income tax return based on the previous years income reported after you are 65 yrs old.

It is very common to obtain GIS or provincial GAIN overpayments only to pay a large CLAWBACK based on your subsequent tax return.

DO NOT SPEND the payout if you are not entitled to it based on a higher income reported on your subsequent tax return. In other circumstances like the Old Age Allowance for a spouse who is yrs old while the other spouse is receiving OAS it may be adviseable to apply for the GIS from http: If GIS entitlement was determined on the basis of income tax returns, it is NOT clawed-back if your income increases in any subsequent year. The only time that GIS might be overpaid and recovered would be if someone was being paid based on their estimated income for the current year and if they under-estimated that income.

The GIS payout table in any given year applies to annual income tax return for that year and will vary accordingly. Annual income for determines GIS entitlement for the period of July through June Hi Doug, I lived and worked in Canada for 20 years. Also if i retire in another country, will they send me the cheque where i retired?

If your 20 years of CPP contributions were all at the maximum level, your CPP retirement pension at age 65 would be approx. The full OAS of approx. Your CPP and OAS will be payable wherever you live. GIS would be payable only if you reside in Canada. Full OAS is based on 40 yrs residency in Canada. If my memory serves me correct you cannot get provincial medical coverage and OAS if you reside outside Canada for more than 6 months of the year ….

CPP is portable to any location since it is based on a defined contribution pension…. The early CPP payout is droppping from what i heaard lately. All RIF and LIF can start at 55 yrs old. LIF at 55 yrs old has a low max. Be very careful …YOU CANNOT REVERSE YOUR DECISIONS ON ANY OF THIS AFTER YOU ACT! Pete I suggest that you call Service Canada at to ask whether you have been pre-approved for OAS or whether you have to apply for it.

At the same time, you can ask them to send you a GIS application. I always advise my friends to not take early CP unless you expect to become deceased before 80 yrs old.

I had to apply for OAS in this way: At that time in they did not allow online applications and it not done automatically by your age. Go to web page http: The GIS will be adjusted higher to include provincial entitlements. The calculation for GIS and extra provincial entitlements are automatically calculated from your annual income tax returns after your 65 th birthday.

You can specify one annual payment or monthly payments on your tax return. To my knowledge the HST credit is paid separately. Pete OAS and GIS will both be effective Aprilthe month following your 65th birthday.

Pete You misunderstand what is said. You must apply for OAS and you cannot do that online. GIS is done automtaically as it is combined with the OAS application ; GIS based on your annual taxable income from the previous year which is only an estimate of the current year in progress that the GIS applies to…. They obviously deem it that this is the most practical way to conduct the GIS program.

GIS application is needed for the Old Age Allowance ; this is GIS that includes a spouse between yrs old has little or no income while the other spouse receives OAS. The Old Age Allowance application is a special form and you may need to pick it up a the Service Center at least during that was the procedure. Tim You may not be aware, but some people are approved for OAS without having to apply for it.

I contacted Service Canada recently on this because it can be confusing. GIS is never counted as income or taxable income under any circumstance. Again, go to http: Here is the important thing about Table EACH spouse receives the SAME GIS specified on table 4 but the spouse 65 yrs or older receives the OAS in addition.

The GIS for the youger spouse is called Allowance. If you really what something a little more challenging then try to figure out survivor benefits.

Doug, the expert, please come back.

Living with a partner: know your rights and responsibilities – National Association of Women and the Law

I never believe just regular people on the internet. I have not been able to find anyone who can explain how CPP effects GIS.

Lets say my only income is per year in CPP paymentshow does that effect GIS? Thank you for the quick response. You are doing a great service, Much appreciated. Still losthowever. Am I making sense here? CPP payment is a source of taxable income and income from all sources is tabulated to determine GIS. OAS is excluded in the income calculation for GIS determination. There are several tables for various conditions such as marital status.

The Allowance GIS for a spouse between 60 yrs old is the only table that is easy to misinterpret. My common law spouse and I have filed joint returns for a least 15 years. He is still legally married but has not lived with his legal wife since We met 7 years later. He did file for a divorce in but she refused to sign the documents. I am not sure where we stand with pensions. He will have a very small work pension and very small CPP. I am 60 and will have per month of a work pension, close to full CPP.

I am trying to decide how much longer I will work. He is presently on disability insurance after a stroke but may be able to go back…not sure yet. My question is how will his legal wife factor into this situation?

Call the Central Registry of Divorce Proceedings for Canada to check status. The Divorce Act is Federal Law and requires a Court Order on the division of debt and property at the time of divorce. This includes Pension funds such as RRSP even if not spousal and disability income. Looks like to me that both you and your partner will qualify for GIS supplement that will offset what looks like a small divorce property split if any.

In any event your partner will probably qualify for legal aid and if necessary bankruptcy if the debt card applies. It will probably be in both yourself and your partner best interest to apply for GIS as single ; check the calculation both ways and do not forget to consider income splitting and survivor benefits.

Common law status can be a little tricky. There are some advantages for married couples namely income splittingsurvivor benefitsand the GIS Allowance for a spouse between the age of when other spouse is receiving OAS.

The GIS or Allowance applies to individuals whose income is less than per year or couples whose annual income is less than per year not counting OAS as income for this application.

Treatment of income: When you earn money from your business or self-employment

Hi Doug, What a helpful page. I am 60, a Canadian Citizen since I have worked since the age of 18 but not always in Canada. From age 18 — 22 I worked in South Africa, 22 — 25 in the UK. What am I likely to receive if I apply for CPP now? I am still working. Cheryl — It depends not only on how many years you worked in Canada, but also on what your earnings were in those years relative to the YMPE.

My best advice for you is to call Service Canada at Open your internet Service Canada Account and it is a good idea to open your Revenue Canada Account while you are at it. Your CPP contributions and estimated payout will be listed on your Service Account. Your OAS-GIS is proportionally based on your years of residency in Canada with maximum benefits after 40 yrs.

OAS for non residences may apply to you later on:: I am on ODSP and getting Disability what happens when I become 65 years of age. If ODSP stops giving benefits how will I survive?

How my medical expenses will be covered? Ny wife and myself both are getting ODSP,My wife does not get Disability CPP as she has never worked in Canad, she worked for 6 months in We have landed here in May Please inform me in details how to get best benefits.

My wife will be 61 years when I become 65 years. What benefits she can get from Government? I checked the ODSP payout tables and it looks like to me that your entitlements will be about the same after 65 yrs old that they are at present.

Global central bank policies are in the process of securitization and rapid escalation of the cost of shelter which jeopardizes all of society. Stay tuned for that outcome. Ray, This ought to be a new thread topic namely Pension Adjustments After Divorce or Separation.

Divorce is Federal law and focused on asset splitting while the remaining family common law is Provincial jurisdiction. CPP is split based on credit accrued during the marriage like this:: You may be able to claim some CPP split from your spouse but calculate your reduced GIS due to a CPP income gain ….

But sometimes the amount of OAS each spouse receives is taken into account when figuring out how much one spouse should pay another in spousal or child support payments. Your CPP is so low that a split of that with your spose is not practical. True except that RAY I K says: I am a new immigrant who came to Canada 10 years ago.

I can work another 10 years and plan to retire at 52 because the additional years are not as valuable as the initial ones. Ganesh — No, it is far from correct. My personal experience is that it is best to greatly increase your RRSP and defined benefit pension as much as possible after you are 55 yrs old while planning to retire at The main issue for me over time is understated inflation stats and overstated estimated investment returns.

Another big issue is that persons over 50 yrs old on average are systemically victims of ageism when it comes to employment in their usual trades. Hello Doug I started receiving my CPP at 61 years of age, and I am turning 65 in October of Is there any way that I can find out what my OAS and hopefully GIS will be after I turn 65?

I am not working and have no other income. Thanks for your reply. If either of those assumptions are wrong, the numbers will change. I am Canadian born and lived here all my life. THANKS for your reply so quickly. I am quite looking forward to my NEXT Birthday Party! I turned 65 last Dec and started my CPP in Jan receiving the maximum amount. However, I continued working until June and paid the full CP contribution for How much will the extra contribution add to the monthly benefit in ?

Bradley — Read this article for the answer: I started working at age 11 summer jobs and worked part time as a student and then full time after University in Canada.

As I am 57 now, I am thinking about retirement planning. What can I expect from CPP OAP or GIS? Incidentally, I raised my 2 kids myself after divorce, they are adults now, aged 25, and He is Canadian and abroad too.

Lori — It sounds like you might have about 15 years of CPP contributions age 18 to 27 plus 6 later yearswhich could qualify you for a monthly CPP retirement pension of approx. You will only be eligible for GIS if you return to reside in Canada. Thank you very much Doug. I really appreciate your input.

So if I return for 5 years what kind of GIS might I expect to receive? Lori — Read this article to better understand GIS: I spoke with you some time ago about my impending 65th. The cake was Delicious! I have been collecting my CPP since I turned 61 but I have been looking forward to my 65th. On October 12, I stopped into the Service Canada office in the City and asked about my OAS application and was told that my OAS paperwork was in place already with them, and it would first pay to me on November 28, I also asked the lady about my GIS application and she showed me online that I can fill in the form on my computer at home with my personal Info and then print off a hard copy of the completed form.

I filled in the GIS form online, printed it off, and took it back to the Service Canada office to submit my GIS application.

The lady mentioned that it takes about FOUR MONTHS to process my GIS application! I am very curious as to have some clue about the approximate amount of my GIS when it is added to my Pension? I have lived and worked all of my life in Canada, I started working at age 16 in I am divorced, my children are all moved out. I have NO outside Income besides my Canada Pension.

Thank You Doug for your Most Awesome Financial Advice for us newbies that have NO Clue about this stuff! Would you be so kind to give an amount of GIS my wife and I will receive. I came to Canada in April and have been living here since then. I turned 65 in October of How much OAS will I get.

I immigrated to Canada in May at the age of Would that amount have increased each of the following 3 years excluding CPI — i. Service Canada told me that the 0. Do I understand correctly that, if I waited until for instance age 67 to start receiving benefits, none of that 0. If I waited until age 70, what would the calculation methodology be? Would the two streams of increments other than CPI be separate and parallel, or inter-active?

Or would one or the other or both of those sets of increments be forfeit? Hi David Q1 — Yes, OR you could claim the 0. Q2 — Service Canada is wrong see Q1 answer. Hi Doug, I am 66 and receiving OAS with GIS since last year. I just recently got married 3 weeks ago to a 55 yr lady from Greece. I went there to marry. She will most likely get her permanent residency status to live with me in Canada sometime next year. It takes that long. In the meantime she has to wait in her country.

Do I tell Canada pension office that I am married now and explain that she has to wait there or do I wait till after she arrives here in Canada next year. Once she gets here next year and she has no income or employment, will that affect my benefits? Arthur — You should advise Service Canada immediately that you are now married. Hello Doug, I am a 55yr old female. Single mom of 3 kids for many years. Only started working full time when I was Before that I lived off of government assistance.

I have a live in boyfriend for the past 10 yrs. We file our tax returns separately. We have no savings. What can we expect when we retire at age 65? Hi Faika — You should call Service Canada at to get estimates for your CPP, OAS and GIS. Hi Doug, which way will increase my cpp the most. I am 69 and still working but not collecting cpp yet.

Someone recently told me that I could still work,collect my cpp and pay into the prb. Would paying the prb increase my pension more than letting it grow by 0. Iwould not receive the maximum if I retired today. Hi Sue — Waiting longer to get more of the 0. So lets take the case of twin brothers John and Gerry born in turning 65 in Both lived their entire lives in Canada and are entitled to maximum OAS. John worked and contributed the maximum CPP contributions each year for 39 of the 47 years between age 18 and He also paid income taxes, and EI premiums but never collected.

When he reached 65 John though because he had worked, contributed and would receive the CPP monthly income of Home About About Jim Yih Contributors and Authors In the News Media Quick Facts Start Here Resources Quotes Welcome to my video page! Subscribe Services Financial Education in the Workplace Professional Speaker Unconventional Advisor Store Contact Archives. How much will the government pay you?

September 3, at 6: December 30, at June 20, at 6: June 20, at 9: February 23, at 6: September 15, at November 21, at 4: March 1, at 8: April 5, at December 19, at 8: December 30, at 1: January 15, at January 23, at 9: January 27, at 1: January 27, at 6: January 30, at 7: January 31, at Phil in Victoria says: March 12, at March 16, at 5: April 8, at 9: April 9, at 5: January 11, at 4: July 14, at 1: Well considering everyone gets OAS then I guess they stay at home moms will get it.

September 7, at 2: Otherwise everyone would just stay home and no one would work. April 10, at 2: What is the present maximum amount of Canada pension to collect at 60 years old? April 10, at 6: July 15, at April 14, at 7: May 12, at May 12, at 6: May 13, at 8: May 14, at 5: May 14, at May 23, at 5: May 29, at 3: May 29, at 4: May 29, at May 30, at 2: May 30, at 5: June 2, at June 3, at September 16, at Doug, I have worked every summer in Canada since I was about 12 years old through high school and every summer I was at university contributing to CPP etc…Then after I graduated from university in I worked full time till when I left Canada to work abroad.

September 17, at October 1, at 9: October 3, at October 3, at 9: October 8, at 9: October 8, at 1: October 10, at 2: October 10, at 3: October 14, at 3: November 11, at 9: December 1, at December 2, at 6: December 3, at 4: December 4, at 4: December 28, at December 28, at 8: April 5, at 4: April 5, at 6: November 9, at 1: November 9, at 9: Alf I know that it takes a long time to process applications that require any of the international agreement, but 14 months to even request those records from the U.

December 20, at 1: