I'm a CPP expert. Any questions? - Page 45
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Thread: I'm a CPP expert. Any questions?

  1. #441
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    I tried online but had problems. Maybe I will find a service canada place in the next while.


  2. #442
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    Quote Originally Posted by Mechanic View Post
    Where can a person find out what they are entitled to at age 60 or age 65 ? We actually retired in 2011 at age 55 but now we are turned 60 so curious about this.
    I agree with heyjude that the Service Canada website is a good starting point, but there are some issues with their online estimates. Read this article: https://retirehappy.ca/understanding...ributions-soc/
    Accurate CPP estimates at Hidden Content or by email to Hidden Content

  3. #443
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    A few things I have read. plus comments from friends suggest that we should take it now we have turned 60, even though we don`t actually need the funds at this time.

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  5. #444
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    Quote Originally Posted by Mechanic View Post
    A few things I have read. plus comments from friends suggest that we should take it now we have turned 60, even though we don`t actually need the funds at this time.
    I think the stock advice is to grab it and run as soon as you can. I think any actuary will tell you that. I too am past 60 and plan to defer to age 70. But I know I might never make it to 70 and an actuary will tell you that to recoup what you gave up in the deferred years means you'll have to live to about 100 to break even. Both my parents recently got to about that age, maybe I'll get lucky!

    Like you, I have no need of the funds now and I'll probably work to age 70 or so if I do survive. That being so, my CPP would now be taxed at the highest marginal rate. I'd rather wait. As well, I just like the psychological lift from receiving a bigger cheque. I'll never be allowed to collect a dime of OAS, so I might as well give my CPP a boost. Mind you, I expect Trudeau and his elves in Ottawa to claw back CPP pretty soon. So am I making an egregious financial planning error? Indubitably. Do I care? Not a whit! I can afford to indulge in a bit of foolishness.

  6. #445
    Senior Member heyjude's Avatar
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    Quote Originally Posted by Mukhang pera View Post
    Correct info, but, unless things have changed lately, to get personalized info from that site you'll have to request a "Personal Access Code" and wait for it to come in the mail. That's what I had to do in August 2013.
    Yes, I should have pointed that out; however, it is explained on the site.

  7. #446
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    Canada Pension Estimate for Non-resident

    Quote Originally Posted by Dogger1953 View Post
    I worked for CPP for more than 32 years, and have recently retired.

    I'd like to share my knowledge if you have any questions, especially around the calculation of CPP benefits.
    I am a Canadian citizen born in 1953. I worked in Canada in from 1972 to 2001 (30 yrs), with max. earnings for 23 of these years. One year was 0 earnings (out of country) and the other 6 years, 3 years were about 70% max. earnings and the other 3 years about 10% max. earnings. I moved to the U.S. in January, 2001. At age 65, what would be my estimated max. monthly pension if I had worked entirely in Canada til 65 and what would be my estimated monthly pension based on my actual 30 yrs. worked in Canada. Best estimate for both would be appreciated.

    Thank you in advance.

  8. #447
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    Quote Originally Posted by Slice225 View Post
    I am a Canadian citizen born in 1953. I worked in Canada in from 1972 to 2001 (30 yrs), with max. earnings for 23 of these years. One year was 0 earnings (out of country) and the other 6 years, 3 years were about 70% max. earnings and the other 3 years about 10% max. earnings. I moved to the U.S. in January, 2001. At age 65, what would be my estimated max. monthly pension if I had worked entirely in Canada til 65 and what would be my estimated monthly pension based on my actual 30 yrs. worked in Canada. Best estimate for both would be appreciated.

    Thank you in advance.
    At age 65, CPP is based on your best 39 years of earnings, so if you had remained in Canada until you had at least 39 years of max earnings your monthly CPP at age 65 would have been $1,114.17 (in 2017 dollars. Since you have only 30 years of earnings which total the equivalent of 25.4 years of max earnings, your monthly CPP at age 65 will be $725.64 (25.4 / 39 x $1,114.17).
    Accurate CPP estimates at Hidden Content or by email to Hidden Content

  9. #448
    Senior Member Daniel A.'s Avatar
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    Just noticed Dogger that this thread has had over 157,706 views.

    That really is impressive for any forum.

  10. #449
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    Retirement Implications

    I am concerned on how my planned retirement will work out for me. First is some background information on myself and wife.

    Myself....age 70 started collecting CPP...829.00 and OAS....460.00 per month.....still working full time. I plan to retire at end of July 2017...income from this job will generate 40,000.00...I have no other source of income.

    Wife...age 66...CPP..289.00...OAS....578.00.....no other source of income.

    My question is....how is my future entitlement for GIS.....CPP...and OAS be calculated for the remainder of 2016 and in 2017. If anybody has the Government form number that i should fill in and submit would be great to get this process started.
    Can anybody give me some idea on how much we can expect for the for the remainder of 2016 and then going forward into 2017

    Thank you

  11. #450
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    Tax Year mistake

    Oops....made a mistake on the years in question....should be for 2017 and 2018.


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