The CCP allows pension sharing, that is allowing one spouse to claim half the CCP income from the other spouse. Both spouses must be at least 60 years old. However, the point I am not clear on is do both spouses have to be receiving CPP to share the pension?
My dad is 65, not retired and in a high marginal bracket. He is holding off on applying for his CPP benefits for now. My thoughts are for him to apply and share the pension with my mom, who is in a low bracket and 61, although my mom won't be applying for a few more years. Will this work?
My dad is 65, not retired and in a high marginal bracket. He is holding off on applying for his CPP benefits for now. My thoughts are for him to apply and share the pension with my mom, who is in a low bracket and 61, although my mom won't be applying for a few more years. Will this work?
