OAS provides benefits to eligible citizens who have reached age 65. Complex rules determine the amount of the pension payment but an individual who has lived in Canada for 40 years after turning 18 is typically qualified to receive the full payment as of October through December 2023. The full...
based on the same calculation as a RRIF. However, LIF are intended to provide income for as long as you are inhabiting the earth, so there is also a LIF maximum withdrawal. That amount varies by province, and it is determined by the same pension rules under which the funds were locked ...
When our children were young, we purchased Group RESPs for them and their grandparents also purchased additional units. I was so impressed with the program that I even took a year before transitioning from family law to pension law and sold RESPs. Each child collected about $8,000 from the...
What is the difference between EPF and PPF? EPF and PPF are both maintained for the same purpose; to open a fund that can be used by an individual once he reaches retirement. The major difference between the two is that, EPF is mandated for salaried individuals, and there is a specific ...