How to double your CPP income Apr 25th

There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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Self-employed with no pension Aug 16th

The year 1975 was the high water mark for bell bottoms, soul music and workplace pensions. Back then, around half of Canadian workers had some sort of pension plan through their employers to save for retirement. These days, just under 40%. For the roughly 2.6 million Canadians who work for.... More »
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CPP payment dates this year, and more to know about the Canada Pension Plan + MORE Aug 30th

In Canada, no retirement plan is complete without considering the CPP. Whether you’re approaching retirement or still several years away from it, the Canada Pension Plan will likely play a role in your retirement income. How big a role depends on several factors. You may have other questions, too..... More »

Single, no pension? Here’s how to plan for retirement in Canada Jul 4th

Being single in retirement has some financial obstacles. Some people are single as they enter retirement. Others become single due to divorce or death prior to or after retiring. Here are some considerations for planning your retirement as a singleton, especially if you have no defined benefit (DB) .... More »

Can you delay a RRIF withdrawal? Jun 6th

Ask MoneySense I read you can base your RRIF withdrawals on your wife’s age to minimize them. Can you please explain exactly what that means? My wife is seven years younger than me, and I am 68. I already have a small RRIF, set up for the pension benefit. When I hit 71, when I convert my RRSP to a.... More »
 cpp

Should you hold gold in a RRIF? + MORE Aug 9th

Ask MoneySense I have a RRIF (registered retirement income fund) and I am looking to shift it to gold. I am 65 years old. Is this safe and does this make sense? —Audrey Investing in gold for retirement in Canada Gold prices have surged recently, rising 26% over the past year. Silver has .... More »
A series of academic papers being rolled out by the National Institute on Ageing (NIA) has added fuel to the oft-argued case for delaying benefits for the Canada Pension Plan (CPP) to the latest possible age: 70. 

As I reported on my own site, when an introduction and overview was released on April 11, the delayed-gratification strategy can more than double ultimate monthly benefits: in fact they may be a whopping 2.2 times more when started at 70 compared to the opposite tactic of taking them as early possible at age 60. Similar dynamics are at play with Old Age Security, but less dramatic because the earliest you can take OAS is the traditional retirement age of 65. 

This month’s Retired Money column looks in more detail at two related benefits from postponing CPP as late as possible: it provides a greater hedge against continued inflation, and provides an annuity-like longevity hedge against outliving your money. These two are intimately linked, of course, since the longer you live, the more pernicious long-term inflation is likely to be…

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