# How much amount can get after Retirement at 65



## mshakil (Mar 2, 2014)

Hi - How much we can get approximate CPP , OAS, GIS etc amount after the retirement at age 65 if has worked 20 yrs in Canada. Any detailed help on this. I will appreciate for your help. Thanks


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## afulldeck (Mar 28, 2012)

mshakil said:


> Hi - How much we can get approximate CPP , OAS, GIS etc amount after the retirement at age 65 if has worked 20 yrs in Canada. Any detailed help on this. I will appreciate for your help. Thanks


For CPP you could try Canada Pension Plan Calculator or 
You could log into the Service Canada account for their estimations : Service Canada - Canada.ca


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## mshakil (Mar 2, 2014)

I have log in in Service Canada - Canada.ca but I don't know where I have to check. Can you please provide the steps where I can check. Thanks


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## afulldeck (Mar 28, 2012)

After logging it hit Canada Pension Plan/Old Age Security button. On the next page scroll down until you find your contributions....Pick either button....


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## mshakil (Mar 2, 2014)

Thanks a lot for your help. Now I have checked 'View your estimated monthly CPP benefits'. Now How I can check my estimated OAS monthly benefit at age 65?


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## afulldeck (Mar 28, 2012)

*If you have lived in Canada less than 40 years*

The amount you receive depends on the number of years you have lived in Canada. If you lived in Canada for less than 40 years (after age 18) you will receive a partial payment amount. Your payment amount is based on the number of years in Canada divided by 40.
You can delay your first payment up to 5 years to get a higher amount.

*Example*

*If you lived in Canada for 20 years* 
If you lived in Canada for 20 years after age 18, you would receive a payment equal to 20 divided by 40, or 50%, of the full Old Age Security pension.


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## mshakil (Mar 2, 2014)

I lived in Canada for 20 years after age 18 then how much approx OAS will receive at age 65 if CPP is $750 at age 65


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## mshakil (Mar 2, 2014)

Is OAS is linked with CPP amount? Is OAS calculation is based on CPP benefit. How OAS is calculated. Can you please give me any example to understand the calculation of OAS. Thanks


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## afulldeck (Mar 28, 2012)

OAS is not connected with CPP. They are not related in any way. As per the example above if you are collecting this year:

[Years you lived in Canada] divide by 40 X Max OAS. So you would get 20/40 x Max OAS or 20/40x $614.14 = $307.07/month

Read this if you still don't quite understand. 









Retirement Benefits: Understanding the Old Age Security (OAS) Pension


The Old Age Security pension is one of the three main pillars of Canada's retirement income system. The two other pillars are the Canada Pension Plan (CPP) and Employment Pension Plans/Individual Retirement Savings.




www.savvynewcanadians.com


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## mshakil (Mar 2, 2014)

Thanks so much


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## Retiredguy (Jul 24, 2013)

If you only have OAS/GIS/CPP and no other income.

Minimum OAS/GIS is $1531 per month, *LESS 50%* of any CPP you may be entitled to..  So you'll have 1531 plus 50% of your CPP.

****Years in Canada doesn't really matter because if you are only entitled to some OAS they give you more GIS. (Bizarre but that's the way it works).

ADDED: If this is your situation you may wish to consider delaying your CPP until age 70 and then receive 42% more. Given that you would still lose 50% your net extra would be 21%, but still a good amount.


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## Retiredguy (Jul 24, 2013)

I see in another thread you're saying you have 150,000 to invest. I hope you're very successful with it because investment proceeds will reduce any GIS, and that's a good thing! Also then of course if GIS is zero, you'll get the full benefit of your CPP entitlement, properly so.


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## mpochwat (Nov 10, 2020)

Wow definitely more confusing than I expected these calculations to be


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