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  1. More proposed CPP changes, and what they really mean.

    Retirement
    There is a lot of misunderstanding about the proposed CPP child-rearing "drop-in" provision. Read this article for a better understanding: https://retirehappy.ca/proposed-changes-canada-pension-plan/
  2. Beeing retired abroad

    Retirement
    Hi, I would appreciate any help in answering the following problematic. My mom is a pensioner and a non resident of Canada but she receives CPP. What are the possible sanctions if she doesn't file the tax report regarding her pension since she won't be living in Canada anymore. Can CRA freez...
  3. 2016 maximums for CPP

    Retirement
    Now that CRA has released the 2016 YMPE as being $54,900: http://www.cra-arc.gc.ca/nwsrm/rlss/menu-eng.html , it's possible to calculate the maximum CPP retirement pension as $1,092.50 and the maximum contribution as $2,544.30 (employee) or $5,088.60 (self-employed).
  4. How much is one year of maximum CPP contributions worth?

    Retirement
    The common answer to this question is approx. $25 per month towards an age-65 retirement pension, but the true answer is that it can range from as little as $0.00 to as much as approx. $100 per month. If you're interested in why the value varies so much, read this article...
  5. Maximum CPP retirement pension for 2015 is $1,065.00

    Retirement
    CRA recently announced the new YMPE for 2015 as $53,600: http://news.gc.ca/web/article-en.do?nid=899339 As a result, it's possible to calculate the maximum age-65 CPP retirement pension for 2015 as being $1,065.00 You read it here first!
  6. Starting your CPP in Dec 2014 versus January 2015

    Retirement
    If you're under age 65 and you're thinking about starting your CPP in January 2015, you may want to consider starting it in December 2014 instead. That's because the age-adjustment factor increases from 0.56% per month in 2014 to 0.58% per month in 2015. For some people, that means that by...
  7. Skill testing CPP question

    Retirement
    If a person will be turning 45 in December 2014, and his CPP statement of contributions indicates that he could receive the maximum CPP retirement pension of $1,038.33 "if he were age 65 today", what will his actual retirement pension be at age 65 (in 2014 dollars) if he makes no further CPP...
  8. What adjustments are made to your CPP after it's in pay?

    Retirement
    If you just started receiving your CPP retirement pension in 2014, you may want to read this article about 3 adjustments that may occur to the amount of your CPP in 2015: http://retirehappy.ca/adjustments-made-to-cpp-after-its-in-pay/
  9. Understanding CPP's post-retirement benefit (PRB)

    Retirement
    If you started receiving your CPP retirement pension in 2013 or earlier, and if you worked and contributed to CPP in 2013, you will likely be eligible for a post-retirement benefit or PRB. This PRB is payable effective January 2014, but you won't likely receive your first 2014 PRB payment until...
  10. CPP post-retirement benefit for 2013

    Retirement
    If you were receiving a CPP retirement pension that started in 2012 or earlier, any pensionable earnings that you had in 2013 will generate a post-retirement benefit (PRB), that will be effective January 2014. If you receiving a CPP retirement pension that started in 2013, you may also qualify...
  11. Don't trust the online CPP calculator results!!!

    Retirement
    The online CPP calculator is a well-intended but poorly designed tool, and I strongly suggest that you don't rely on its results for your retirement planning. As an example, I had a client yesterday who was 54 years old and had recently retired after 30 years of max earnings. His CPP statement...
  12. Starting your CPP in 2013 versus 2014

    Retirement
    If you're between age 60 and 65 now, and you're thinking of starting your CPP early in 2014, you may want to consider applying immediately for a December 2013 start date instead. That's because the reduction factor for starting your CPP earlier than age 65 increases to 0.56%/mth in 2014, from...
  13. Maximum CPP retirement pension amount for 2014

    Retirement
    Now that Revenue Canada has announced the 2014 YMPE (Year's Maximum Pensionable Earnings) for CPP as being $52,500, it is possible to calculate the maximum age-65 CPP retirement pension for 2014, and it will be $1,038.33. Service Canada probably won't officially release this rate until...
  14. Understanding your CPP statement of contributions (SOC)

    Retirement
    I know that this issue has been discussed previously, but I'm posting this link to a new article that I've just written on the subject: http://retirehappy.ca/understanding-...ributions-soc/ Basically, the article describes what the estimates on your CPP statement of contributions really mean...
  15. Have you ever wondered how living in another country affects CPP or OAS eligiblity?

    Retirement
    Canada has international social security agreements with over 50 countries. These agreements make it easier for someone who has lived in one of those countries to qualify for CPP and OAS (as well as possibly qualifying for benefits from that other country). If you want to know more about how...
  16. Have you wondered how the CPP child-rearing dropout really works?

    Retirement
    If you've ever wondered how the Canada Pension Plan child-rearing dropout (CRDO) works, reads these two articles: http://retirehappy.ca/child-rearing-dropout/ http://retirehappy.ca/cpp-crdo-the-bad/ And post your questions here if you still have any!
  17. Are you receiving as much CPP as you should be?

    Retirement
    You might think the answer to this question is a simple "Yes". I used to think so also, but I don't necessarily think this is always true anymore. When CPP benefits are approved, they won't have your current year of earnings/contributions available, and sometimes they won't even have the...
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