A locked-in retirement account (LIRA) is designed to hold pension funds that you have accumulated in a company pension (defined benefit or defined contribution) when you no longer work for the...
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The CPP disability benefit is a monthly benefit available to eligible CPP contributors who are unable to work at any job on a regular basis because of a severe and prolonged disability. At age 65, a...
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The Canada Pension Plan (CPP) is a monthly benefit paid to retirees who have contributed to the plan during their working years. CPP payments were initially designed to replace about 25% of your...
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Canadians can transfer their RRSP or TFSA accounts from one financial institution to another without penalty or tax consequences. Of course…so long as you do it the right way. Your reason for...
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I have previously written about reasons to take CPP early at age 60. In this post, I cover some reasons why you may actually want to delay taking CPP until age 70 instead of the standard 65 years....
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Should I take CPP early at age 60, wait until the standard 65 years, or defer CPP benefits until I’m 70 years old? I get these questions a lot from my readers and while I certainly do not...
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When a CPP contributor dies, their surviving spouse and children may be eligible to collect the following benefits: CPP death benefit CPP survivor’s pension CPP children’s benefit...
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Updated for 2020 Tax season is again upon us and you can save on your tax bill and get a nice refund by maximizing your Registered Retirement Savings Plan (RRSP) contribution for the 2019 tax year....
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The Registered Retirement Savings Plan (RRSP) provides Canadians with a practical way to save for their retirement. RRSPs have various rules that govern how they are administered. Generally, you can...
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The Old Age Security (OAS) pension is one of the main sources of retirement income in Canada. Unlike the Canada Pension Plan (CPP) which is a plan you contribute to during your working years, the...
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