Canada Pension Plan, Old Age Security pension and related benefits, the Canadian retirement income calculator and retirement planning. Family benefits Maternity and parental leave, Employment Insurance, Canada Child Benefit, and survivor's pension. ...
The flip side is, if you purchase an annuity and interest rates increase, then you will have gotten a bit unlucky, and in hindsight, it would have been better for you to wait. This is why Milevsky recommends spreading out your annuity purchases over a few years – so that your exposure ...
Vettese also cites data from actuary Malcolm Hamilton, who found Canadian seniors on average weresaving money, even while giving away an average of 16.1% of their income. That data was from way back in 2001 – but here’s the craziest thing:The average income for Canadian seniors went up ...
Fawcett said seniors living solely on benefits can manage – barely – if they own their own residence. “Seniors who have to pay rent would be in dire straits. One fellow I met said he got $1,700 a month from his pension, but his rent was $1,800 a month. He has to dip into h...
Many seniors simply won’t be able to afford to defer their OAS, and in those situations it’s totally ok to take OAS at 65. For folks that have substantial savings or have alternate pension plans to rely on during the ages of 60-70, deferring their OAS can be a very attractive opti...