Retirement & Pensions
CPP | OAS | RRSP/RRIF | TFSA
Financial Post | Personal Finance
Fiscal Agents - Canadian Money Centre Site
Google Search - Retirement Planning
Harvest Portfolios Group - ETFs | Mutual Funds | Structured Funds - Just FYI. Not a recommendation.
LeBelAge.ca - Retraite, argent, santé, voyages, loisirs et techno pour baby-boomers
Lodging - Buy or Rent?
NCOA = National Council on Aging
NYTimes -|$$$|- (CDN$20/4weeks)
Federal/Provincial/Territorial Ministers Responsible for Seniors Forum - Canada.ca
The Montreal Gazette
Arbor Memorial Inc.
Service Corporation International = SCI
Vancouver Jewish Seniors Directory
Alan Simpson said it (NOT a Québécois senator).
- Health & Aging ...
- AARP = American Association of Retired Persons (USA)
- CARP = Canadian Association of Retired Persons (Canada)
- FADOQ | Réseau FADOQ = Fédération de l’Âge d’Or du Québec
- See EverythingZoomer
- Employment and Social Development Canada - Canada.ca - (formerly called Department of Human Resources and Social Development)
- Working while retired ...
- Working while retired | see Career Topics ... (SOHO, Telecommuting, etc.)
- ROAD = R.O.A.D. = Retired On Active Duty
- Glossary of Common Military Acronyms | Military.com
- Quiet Quitting vs. Loud Quitting
- Two-thirds of Canadian employees are quiet quitting, study finds - The Globe and Mail
- Low engagement or Disengagement - Result of daily stress, unclear expectations, high unemployment (= reduced choice in employment opportunities), family issues, health issues, inflation, other external factors, ...
- Gallup defines the trend as when employees “put in the minimum effort required” and are “psychologically disconnected from their employer.”
- Loud quitting = Taking “actions that directly harm the organization, undercutting its goals and opposing its leader” and not engaged in their work.
- It is better to have an employee flat-out quit (and to find a more engaged replacement) than quiet quit.
- Investment Services / Banks
- RTOero.ca - Insurance products
- RTOero.ca - Financial products
- Estate Planning / Wills / Executor / Estate trustee
- Personal Financial Planning
- Shopping - discounts
- City-Data.com - Stats about all US cities - real estate, relocation info, crime, house prices, cost of living, races, home value estimator, recent sales, income, photos, schools, maps, weather, neighborhoods, and more
- ElderAction - Thanks to Caroline James for recommending this site.
- EverythingZoomer - 45+ lifestyle magazine
- Retirement Planning with CDIC - Everything Zoomer - Canada Deposit Insurance Corporation
- Think Twice Before Taking Early CPP - Everything Zoomer
- Work & Retirement - Everything Zoomer
- Alan Simpson, Senator from Wyoming, Co-Chair of Obama's deficit commission, calls senior citizens "the Greediest Generation" as he compared Social Security to a Milk Cow with 310 million teats. August, 2010.
- Although this retarded American senator said it, there are many other uninformed (ignorant) people who expound the same rhetoric without any logical or factual basis.
- However, the author of the response to this senator's stupid remark is really not known.
- Gratitude must be extended to this unknown author for explaining facts that any self-respecting politician should have verified before vilifying a whole generation of citizens.
- The response is brutally honest and correct even if the author is really anonymous.
- Did Alan Simpson or Dick Durbin Call Americans 'The Greediest Generation'? - snopes.com
- Opinion: Are we prepared for the wallop long COVID will deliver? - The Globe and Mail
- CPP = Canada Pension Plan
- In Québec, the equivalent is QPP = RRQ = Le Régime de rentes du Québec
- See EverythingZoomer
- CPP Investments - Canada Pension Plan Investment Board (CPP Investments) was created in 1997 by an Act of Parliament with the objective to invest the Canada Pension Plan (CPP) fund assets to maximize returns without undue risk of loss, having regard to the factors that may affect the funding of the Canada Pension Plan.
- RRQ - CompuPension = RRQ - Simulation des revenus à la retraite
- 13 Things You Need to Know About the Canada Pension Plan - Everything Zoomer
- CPP Investments
- Public pensions - Canada.ca
- The best time to start CPP —if you don't know when you will die
- Bear in mind that, like most pensions and annuities, CPP and OAS are income streams that "run out" or reduce upon the passing of a spouse, unlike personal assets that have both a survivor and estate benefits.
What does this mean?
- One thing the "delay CPP" crowd often forgets is the tricky issue of Survivor Benefits. We looked at this earlier this year but Diamond says that while you can receive both a CPP retirement pension and a survivor benefit, the sum of the two cannot exceed the maximum CPP retirement pension payable at age 65. So if both spouses wait until 65 or beyond and are at the maximum payout, there would be no CPP survivor benefit for the one who outlives the other. And OAS has no survivor benefit nor an estate value (CPP has a $2,500 death benefit).
- Should I collect CPP early?
You can begin collecting CPP as early as 60 or wait until 70 at the latest. However, the government will penalize you (subtract 0.6 per cent a month before 65 if you begin collecting early) or incentivize you (add 0.7 per cent a month after 65) if you defer it. To illustrate the difference, suppose your annual CPP benefit is $10,000 a year, if you begin collecting at 60, you'll be penalized $3,600 over the five years. Conversely, if you delay to 70, you'll collect an extra $4,200. Runchey says if you live to 80 (the normal life expectancy), it doesn't matter what age you start receiving benefits: "Based on the math, by 80 the total payouts will be about equal."
- FNEEQ (CSN) = Fédération nationale des enseignantes et des enseignants du Québec
- OAS = Old Age Security
- OTPP - Ontario Teachers’ Pension Plan
- email@example.com - 416-226-2700 or 1-800-668-0105
- RRSP = Registered Retirement Savings Plan
- By the end of the year you turn 71, you need to either convert your RRSP to a Registered Retirement Income Fund (RRIF) or purchase an annuity (a monthly payment from an insurance company in exchange for your RRSP savings).
- RRSP .org - your rrsp mutual fund retirement and financial planning center
- Retraite Québec
- RRSPs: Registered Retirement Savings Plans, investing, taxes & more
- RRIF = Registered Retirement Income Fund
- See EverythingZoomer
- Understanding RRIFs
- You can convert your RRSP whenever you want - even before you retire. But you must convert it by no later than the end of the year in which you turn 71. That’s when it’s time to stop contributing to your RRSP and start drawing retirement income from a RRIF.
- Withdrawals are taxable. All the money in your RRIF will continue to grow tax-free until you take it out.
- Seven year-end tax planning ideas for retirees - The Globe and Mail
- "If you’re age 65 or over, you’re entitled to claim a pension credit on up to $2,000 of eligible pension income (generally, income from a registered pension plan, annuity or registered retirement income fund). Do this before year-end to receive that $2,000 with no or low taxes each year going forward."
- Your annual minimum withdrawal percentage gradually increases with age. For example, at age 71, you will have to withdraw 5.28% of your portfolio’s value; at age 82, it’s 7.38%.
- If you’re converting RRSPs from a number of financial institutions to a RRIF, it’s a good time to review your portfolio and consolidate your investments. Not only will you get a better overview of your investments, but it will also be easier for you to decide how much you’re going to withdraw each year and from which investments.
- RRIF Minimum Withdrawal Chart | CIBC Wood Gundy
- You must start taking withdrawals the year following the year you opened your RRIF.
- Understanding the new RRIF minimum withdrawal rules | Manulife Investment Management
- In the year the RRIF is opened, the minimum withdrawal is nil. (probably the year in which you turn 71)
- Any payments (withdrawals) in excess of the minimum are subject to the following withholding tax rates: 10 per cent if the excess payment is less than $5,000, 20 per cent if the excess payment is between $5,000 and $15,000, and 30 per cent if the excess payment is more than $15,000.
- This withholding tax is on top of (= in addition to) the regular income tax on the full amount of the total withdrawal (minus the minimum allowable withdrawal).
- Receiving income from a RRIF - Canada.ca
- A RRIF annuitant is the owner of a RRIF. The RRIF can be a designated benefit for a qualifying survivor.
- Investing for retirement goes way beyond RRSPs | IG Wealth Management
- RRIF withdrawal rules for retirees need to be updated | Financial Post
- 401(k) - Wikipedia, the free encyclopedia (USA only) (Compare to Canada's Registered Retirement Savings Plan)
- TFSA = tax-free savings account