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11 FAQ answers
What is the CPP Post-Retirement Benefit?
The CPP Post-Retirement Benefit, or PRB, is extra monthly income you can earn if you work while receiving your CPP retirement pension and continue making CPP contributions. It is added to…
Read the plain answer Retirement benefitsCan I work part-time and still get GIS?
Yes. You can work part-time and still receive the Guaranteed Income Supplement. Employment does not automatically cancel GIS, although your benefit may decrease as your countable income…
Read the plain answer Survivor benefitsWhat happens to your pensions when you die?
Your own CPP retirement pension, Old Age Security, and Guaranteed Income Supplement do not pass to another person. They are payable for the month in which you die; payments received for…
Read the plain answer Retirement benefitsWhy Do Advisers Often Recommend Delaying CPP?
Scope: Canada Pension Plan outside Quebec
Read the plain answer Retirement planning58 and nothing saved?
Having nothing saved at 58 is serious, but it does not mean you will have no retirement income. Canada's public pensions may provide a base. Your actual amount will depend on your CPP…
Read the plain answer Retirement benefitsWorked abroad? Those years may still count
If you lived or worked in another country before coming to Canada, those years may help you qualify for Old Age Security. Canada has social security agreements with many countries.…
Read the plain answer Retirement savingsDoes the RRSP work against low-income retirees?
An RRSP does not automatically work against a low-income retiree, but money withdrawn from an RRSP or RRIF is generally taxable income. That extra income can increase income tax and may…
Read the plain answer Retirement benefitsHow much OAS do I get?
Your Old Age Security amount is not based on how much you worked or contributed. It depends mainly on how many years you lived in Canada after age 18, when you start the pension, your age,…
Read the plain answer Retirement benefitsNo tax return = no GIS?
No tax return can mean a delay, reduction, or interruption in GIS payments. Service Canada reviews Guaranteed Income Supplement eligibility each year, normally using income reported on…
Read the plain answer Retirement benefitsWhat is GIS in plain words?
GIS stands for the Guaranteed Income Supplement. In plain words, it is a monthly, tax-free payment added to Old Age Security for eligible people age 65 or older who have a low income and…
Read the plain answer Retirement incomeI have no RRSP. What happens to me?
Not having an RRSP does not mean you will have no retirement income, but it does make it important to understand what other income may be available.
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