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Making sense of the markets this week: September 17, 2023 Sep 21st
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
U.S. inflation battle: Mission not accomplished
Despite increasing interest rates and hawkish talk from the U.S. F.... More »
How much of a pension does a survivor receive? + MORE Jun 27th
Ask MoneySense
When my husband dies, do I still receive his or a portion of his pension, and if so, how do I find out what it is?
–Donna
Pensions can make up a significant portion of a someone’s income in retirement. As a result, it is important to understand what happens if a spouse—or.... More »
What do to with a spousal RRSP at age 71 Jun 15th
Ask MoneySense
My question is in regards to a spousal RRSP that I have set up for my wife years ago. When she turns 71, do we have to turn it into something like a RRIF, which I did for my RRSP (I am older than her) and then withdraw from it annually? Or, could it be directly transferred to her TFSA.... More »
Stock news for investors: Canopy Growth to acquire MTL Cannabis in $125-million deal + MORE Dec 20th
Here’s a round-up of news for Canadian investors this week.
Canopy Growth
Blackberry
Transat
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 1.50% in.... More »
How to stay the course with your retirement plan during market volatility + MORE Apr 11th
Three days of wild market volatility sparked by U.S. tariffs is enough to cause any investor stress, but for those in retirement, the plunge can be extra difficult.
Markets have taken a nosedive after U.S. President Donald Trump’s announcement of sweeping global tariffs last Wednesday (April .... More »
Q. My father, who was born in 1945, left Canada to live in Thailand when was 26 years old. That was 50 years ago and he has never returned. If he comes back to Canada for one year to apply for his OAS, would he be eligible to receive a full pension? And would they be able to calculate his pension and pay benefits retroactively from his 65th birthday?
–Helen
A. The Old Age Security (OAS) pension is based on residency in Canada. It differs from the Canada Pension Plan (CPP), which is based on contributions by employees and the self-employed.
Canadian residents must have lived in Canada for at least 10 years after the age of 18, be 65 or older and be a citizen or a legal resident at the time their OAS application is approved.
Non-residents must have been a citizen or legal resident on the day they left Canada, be 65 or older and have lived in Canada for at least 20 years after the age of 18.
If an OAS applicant falls short of the residency years, they may still qualify if Canada has a social security agreement with another country where they live or lived…
–Helen
A. The Old Age Security (OAS) pension is based on residency in Canada. It differs from the Canada Pension Plan (CPP), which is based on contributions by employees and the self-employed.
Canadian residents must have lived in Canada for at least 10 years after the age of 18, be 65 or older and be a citizen or a legal resident at the time their OAS application is approved.
Non-residents must have been a citizen or legal resident on the day they left Canada, be 65 or older and have lived in Canada for at least 20 years after the age of 18.
If an OAS applicant falls short of the residency years, they may still qualify if Canada has a social security agreement with another country where they live or lived…
