Jun 7, 2024 · The Old Age Security (OAS) program is the cornerstone of Canada’s retirement income system, along with the CPP. It includes a basic pension for almost all people 65 or older who have lived in Canada for at least ten years and are over 18.

Jan 7, 2024 · Basically if you made less than $66,600 of income in 2023, you will not contribute enough to CPP to qualify for a point on the 39-point system.

Nov 18, 2024 · Reminder: RRSP Contribution Deadline for 2023. Before we dive into RRSP deductions, here’s my reminder to you that the final day to contribute to your RRSP and be able to use the deduction for the 2022 tax year is Wednesday, March 1st, 2023.

Jan 7, 2024 · The deferring deduction tip is very important. Most people seem to think you have to claim the tax refund the same year you contribute. But if you’re in a low tax year (e.g. still have tuition credits etc to claim; off on maternity or parental leave) you might do well to wait to claim the deduction, even though it’s good to have the money in there earning tax-free dollars.

Whether you’re 55, 60, or 65+, senior’s discounts can help you save money on everyday expenses while maintaining your quality of life. From restaurants and grocery stores to public transit and travel companies, it’s in your best interest …

Apr 12, 2024 · Tom Drake is the consumer and credit expert at Retire Happy, sharing his knowledge on the best ways to get the most for your money. Whether it's credit cards, banking products, or travel tips, Tom shares his insight as a financial analyst and as the writer behind the award-winning MapleMoney.

Apr 13, 2023 · Tom Drake is the consumer and credit expert at Retire Happy, sharing his knowledge on the best ways to get the most for your money. Whether it's credit cards, banking products, or travel tips, Tom shares his insight as a financial analyst and as the writer behind the award-winning MapleMoney.

Jan 8, 2024 · To calculate your CPP retirement pension, the first thing you should do is go online to the My Service Canada site and obtain your most recent CPP Statement of Contributions (SOC).. Also on the My Service Canada site, you can request an estimate of your CPP benefits.

Mar 30, 2023 · Healthcare costs are one of the most overlooked expenses that Canadians face every year. It could be that our universal healthcare system leads us to assume healthcare is free or that medical expenses don’t always appear as line items on our budgets, like gas or groceries.

RRSP Vs. RRIF: What’s the Difference? RRSPs and RRIFs have some similarities. Both are tax-deferred retirement accounts and allow you to assign beneficiaries, you must pay withholding tax on withdrawals, and you can invest your money in a number of ways.. But RRSPs and RRIFs are not the same thing, which is why it’s important to understand the differences.