Hello Hervin I'm in Canada for over 41,5 years I'm 72 years and I'm getting OAS $ 606.34 per month what I should do to get maximum OAS $ 713,00 per month what I should do ?please let me now, thank You
Hi, thanks for the video! I am 61 years old and have just retired a couple of months ago. I am melting down on my RRSP and am wondering if I should apply for CPP now. As per the CRA site, I will be receiving $290 more if I were to start taking CPP at age 65.
Congrats on your retirement! Unfortunately I can't answer a specific question like this as I have little information about you. It's best you reach out for our services. I know it sounds self serving, but I don't want to give you the wrong information.
Question sir, you mentioned up to 8 years of lower earnings would be dropped off of your total working years of contributions which in turn may help your monthly benefit, us this done automatically when you apply or is this something you have to make sure is adjusted for?...hope I am clear in my question lol
Yes the general drop out provisions is automatic, it removes periods of low or no contributory earnings. The provisions that require clarification is periods of disability and raising young children.
Hello Hervin I come to Canada since May 22, 1985 now Because I los my job and I turned 62 years old I decide to apply for for CPP and I just got my first paycheck on March 26, 2024, but what don't understand is why I got only $232.86 on my paycheck, But their is 2 thing I have to tell you one I am not work all the time I work between 2 to 4 or 6 years am off then work again then off thing like thatk, I have 4 kids but I separated from my wife along time isn't something to do with that, I would appreciate it if you could explain to me why. Thanks so much.
Hello James. That would make the pension administration difficult at best, and likely unsustainable for the most part. The truth is, for most people, the monthly payment will work out better than the lumpsum. If you review the maximum amount you likely contributed, vs what you'd get monthly, it's possible that you'd breakeven and get your money back within 10 years. You would also have to earn extraordinary returns for a long time, to beat the equivalent return.
