A few weeks ago, we reviewed the recent changes in the Canada Pension Plan rules and how they affected choices people might make about taking their CPP early, or deferring to after 65. These choices have always been available with CPP, but the penalties and rewards for advancing and delaying have changed to make it [...]

In 2012, big changes were made to the Canada Pension Plan rules, with some additional evolutionary updates happening this year.  It’s time to review the rules to make sure your CPP plans and decisions are still optimal for you.Â
The maximum benefit available in 2013 to a 65 year-old is $1,012 per month.  To receive the [...]

Pop quiz – are you aware of the recent changes to Canada’s government retirement systems, and how those changes might affect you?
In January 2012, a new set of rules became effective for the Canada Pension Plan (CPP) and these can change your best strategy for the timing of your application for benefits.
Starting July 1, 2013, [...]

Last week we reviewed details of the proposed increase to the age eligibility for Old Age Security (OAS) from 65 to 67, introduced in the 2012 Federal Budget.Â
This prompted questions about the basic eligibility for OAS, especially the residency requirements, rules regarding partial eligibility, and the high income clawback.
This column will review those rules.
Rule one [...]

We became used to government budgets being non-events in recent years, but the 2012 federal and Manitoba budgets should perhaps warrant a second look. Â
If you are under the age of 55, the future changes to the Old Age Security age of eligibility will affect you.
While that announcement attracted the most headlines (and anger from [...]

Last chance to reduce your taxes
I apologize for talking about taxes on such a bright sunny spring day, but the time has come.  Your return is due at CRA on Monday, April 30, and I know several of you out there have not yet filed.
Your consolation is that we will talk about ways to reduce [...]

A number of changes were made to Canada Pension Plan rules effective January, 2012. Some changes are significant, and have caused us to change our advice on taking CPP early.  Additional evolutionary changes will continue for the next few years.
Unlike OAS, which is funded from general government revenues, CPP is self funding, through premiums and [...]

Everybody is talking about OAS (Old Age Security) this week, after the Prime Minister’s speech in Switzerland suggesting changes may be on the table for the future.
This resulted in howls of protest, similar to the attempts by previous governments to tinker with retirement income entitlements.  No specific changes have actually been proposed, and any such [...]