Alberta Prosperity Project’s Post

🌟 Important OAS Pension Info! 🌟 👉 Your work history doesn't impact eligibility for the Old Age Security (OAS) pension, whether you've worked before or are currently working. 👴 For Canadian residents: Be 65+, a citizen/legal resident upon approval, and have lived in Canada for at least 10 years since age 18. 🌍 For those outside Canada: Be 65+, a Canadian citizen/legal resident before leaving, and have lived in Canada for at least 20 years since age 18. 📈 OAS pensions are reviewed quarterly to reflect changes in living costs, ensuring your payment won't decrease even if living costs drop. 📈 If you were 75+ by June 2022, you receive a 10% boost in your OAS pension (started July 2022), and it didn't affect the Guaranteed Income Supplement (GIS) calculation. ⏳ Considerations when starting OAS: Start at 65 or delay for higher payments (up to 60 months). After 70, delaying offers no extra advantage and may result in benefit loss. 🌏 Receiving OAS abroad: Possible with conditions like residency duration in Canada or in a country with a social security agreement. 💰 OAS pension payments are taxable, and taxes aren't deducted automatically. You can request federal tax deductions. 💬 Questions? We're just a DM away! #LifestyleFinancialPlanning #Vaughan #Markham #Toronto #GTA # Canada #OldAgeSecurity #OAS #CanadianPension

🌟 Important OAS Pension Info! 🌟 👉 Your work history doesn't impact eligibility for the Old Age Security (OAS) pension, whether you've worked before or are currently working. 👴 For Canadian residents: Be 65+, a citizen/legal resident upon approval, and have lived in Canada for at least 10 years since age 18. 🌍 For those outside Canada: Be 65+, a Canadian citizen/legal resident before leaving, and have lived in Canada for at least 20 years since age 18. 📈 OAS pensions are reviewed quarterly to reflect changes in living costs, ensuring your payment won't decrease even if living costs drop. 📈 If you were 75+ by June 2022, you receive a 10% boost in your OAS pension (started July 2022), and it didn't affect the Guaranteed Income Supplement (GIS) calculation. ⏳ Considerations when starting OAS: Start at 65 or delay for higher payments (up to 60 months). After 70, delaying offers no extra advantage and may result in benefit loss. 🌏 Receiving OAS abroad: Possible with conditions like residency duration in Canada or in a country with a social security agreement. 💰 OAS pension payments are taxable, and taxes aren't deducted automatically. You can request federal tax deductions. 💬 Questions? We're just a DM away! #LifestyleFinancialPlanning #Vaughan #Markham #Toronto #GTA # Canada #OldAgeSecurity #OAS #CanadianPension

If you plan to spend a period of time out of the workforce to raise your children, you might wonder how that could affect your Canada Pension Plan (CPP) benefits. You can find some great information here: https://shorturl.at/l90eU #financialplanning, #gvwealth

In Canada, the three major sources of retirement income are: Government Benefits: Canada Pension Plan (CPP): Provides monthly payments to retirees based on their contributions during their working years. Old Age Security (OAS): A monthly payment available to most Canadians aged 65 or older, based on residency in Canada. Guaranteed Income Supplement (GIS): An additional benefit for low-income OAS recipients. Employer-Sponsored Pension Plans: Defined Benefit Pension Plans (DBPPs): Provide a fixed, pre-determined benefit based on salary and years of service. Defined Contribution Pension Plans (DCPPs): Retirement benefits depend on the amount contributed and the investment performance. Personal Savings and Investments: Registered Retirement Savings Plans (RRSPs): Tax-deferred savings plan that allows individuals to contribute and grow their retirement savings. Tax-Free Savings Accounts (TFSAs): Allows Canadians to earn investment income tax-free. Non-registered Investments: Includes personal savings, stocks, bonds, mutual funds, and real estate. #retirement #rrsp #canada #investment #savings #finance #tfsa #dpsp #realestate #portfolio #cpp #oas #gis #finance #money #forex #trading #price #business #currency #globaltrade #investment #investing #wealth #economy #fintech #entrepreneur #SustainableFinance #SustainableInvesting #FinancialFreedom #PersonalFinance #FinancialPlanning #mortgage #FinancialLiteracy #RetirementPlanning #DebtFree #FinancialAdvisor #news #financialnews #financialadvice #financial #mortgagebroker #mortgageadviser #mortgages #investmentstrategy #investments #passiveincome #investment #pensions #wealthmanager #canada

If you're looking for information on, or have questions about Canada Pension or OAS don't miss this session on April 16! Join us virtually to learn more about Canada Pension, OAS and other Service Canada topics, and get the info you need! Details and registration here: https://lnkd.in/g5tZSMBC #Caledon #ServiceCanada #InfoSession

Mark, I agree with most of your analysis/opinion here except your point 4. As you mentioned capital will (and should) move to investments with the best risk/return profile. Why should pensioners suffer the potential of lower returns by having pension funds forced to invest in Canada? We have massive underfunded pension liabilities that would be exacerbated by such a strategy. Leave the managers of our pension funds free to maximize returns for their benefactors.

Starting this Thursday, we have a rare opportunity to take part in public meetings across Canada – where we’ll have the chance to question our national pension manager on its risky track record of investing our money in fossil fuel expansion. The Canada Pension Plan Investment Board (CPPIB) manages the retirement savings of over 22 million Canadians. The science is clear that we need to rapidly transition away from fossil fuels to avoid the worst effects of climate change. That’s why CPPIB made a commitment to net-zero emissions by 2050. Yet CPPIB is continuing to invest our retirement dollars in fossil fuel infrastructure and the companies fueling the climate crisis. The $647 billion in the Canada Pension Plan is our money. The investment board owes all of us a duty to maximize our returns over the long-term without undue risk of loss. Fossil fuel expansion simply cannot be a responsible investment as the world moves away from fossil fuels. CPPIB must stop gambling our hard-earned retirement savings on oil, gas, coal and pipelines. Register to attend a Canada Pension Plan meeting in your city today, and tell CPPIB executives to stop investing our money in fossil fuel expansion and instead use the national retirement savings of Canadians to invest in climate solutions. https://lnkd.in/eUJSaS8t

Did you know Canada Pension Plan (CPP) contributions are mandatory for everyone between age 18 and 64 who is employed, or self-employed and paying themselves a salary? At age 65, if you intend to keep working you can choose to continue contributing to receive a higher pension later. However, at age 70, contributions are no longer permitted. Learn more about the CPP here: https://ow.ly/QZLf50R4ym2

In the face of aging demographics, a stable, resilient pension fund is one of the most powerful tools a country can leverage to shape its future. With a clear mandate and a future-focused investment strategy, the Canada Pension Plan stands strong, providing a solid economic backbone in tumultuous times. Learn more about how CPP Investments is securing a stable financial future for Canadians. https://lnkd.in/gkrsuwTf