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I'm a Canada Pension Plan (CPP) expert. Any questions?

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[OP]
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I'm a Canada Pension Plan (CPP) expert. Any questions?

I worked for the CPP for over 30 years and have recently retired. I know a fair bit about the Old Age Security Programs too. Fire away!
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Quick question regarding people who are currently Non-Residents, but were previously full citizens with over 15 years. Will they still be able to receive CPP and OAS as NR or do they need to be full Residents to obtain it? Thanks!
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Dogger1953 wrote: I worked for the CPP for over 30 years and have recently retired. I know a fair bit about the Old Age Security Programs too. Fire away!
Do you receive full CPP for working over 30 years?

Is there a formula to calculate CPP? An online calculator?
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Oct 22, 2007
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First off welcome and congrats on your recent retirement.


Questions, if I have no paperwork and am an early retiree, what is the best way to find out what I will collect from the government when I reach 65? Keep in mind I don't have an employer that I can talk to.
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Jan 4, 2005
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thanks "Dogger1953" for answering my question earlier ..and I will be following this thread

:)
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Jun 14, 2012
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How confident should someone now in their 20's be that CPP will be there for them?
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Dogger1953 wrote: I worked for the CPP for over 30 years and have recently retired. I know a fair bit about the Old Age Security Programs too. Fire away!
A person only contributed 9 yrs to CPP after she immigrated to Canada. So she doesn't qualify for the death benefit after she dies. Is there any way to get around that rule?
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Aug 3, 2010
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Will there ever be a change where we can opt out of CPP?
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Can I bring in years of contribution from another country? I think I read somewhere it's possible - I have ~ 10 years of UK National Insurance contributions.

Thanks!
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Xiaohaibao wrote: How confident should someone now in their 20's be that CPP will be there for them?
It is better managed and far more solid than ANY defined benefit pension plan (private or public) out there.
Money Smarts Blog wrote: I agree with the previous posters, especially Thalo. {And} Thalo's advice is spot on.
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Cop is a career average plan. How to combine past services with two sins?
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A govt employee retires at age 62 and is entitled to the employer's retirement pension. Is it generally more financially beneficial for that person to apply and get "reduced" CPP at age 62, or wait till age 65 to get "full" CPP? Note however the federal government employer pension is integrated with CPP.
[OP]
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brokekid wrote: Quick question regarding people who are currently Non-Residents, but were previously full citizens with over 15 years. Will they still be able to receive CPP and OAS as NR or do they need to be full Residents to obtain it? Thanks!
Resident status has no impact on the CPP retirement pension, so if they previously contributed for even one year, they will be eligible for a CPP retirement pension as early as age 60, regardless where they living at that time. It's a little more complex for CPP survivor benefits, so the best I can offer now is "maybe". For OAS, eligibility is based on residence in Canada after age 18, and they would need at least 20 such years of residence if they are applying at age 65 from outside of Canada. There are international agreements with soem 50 countries though, that would allow someone to "totalize" residence or contributions in that other country in order to reach the magic 20 years. Entitlement however would still be based solely on the Canadian residence. So again without further details, the best I can answer is "maybe".
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max88 wrote: Do you receive full CPP for working over 30 years?

Is there a formula to calculate CPP? An online calculator?
Max88 - There is a formula to calculating CPP benefits, and I gave a summary of how in answer to another question. I'll repost it here later.
There is an online calculator available at: http://www.servicecanada.gc.ca/eng/isp/ ... info.shtml
It does have a few issues and limitations, but it's a good starting point.
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ovovov wrote: Cop is a career average plan. How to combine past services with two sins?
If you've had two SINs, they should be linked and your total CPP contributions and benefit calculation should be automatic. If your current CPP statement of contributions (SOC) isn't showing earnings that you had under both SINs, deal with Service Canada first to make sure that those SINs are indeed linked, and then get an updated SOC that is accurate. Do it now! Don't wait until you're 60 or 65.
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max88 wrote: Do you receive full CPP for working over 30 years?

Is there a formula to calculate CPP? An online calculator?
I forgot to answer the first part of your question re a full CPP for over 30 years. Until 2013, CPP was based on the best 85% of your contributory period. Currently that sits at your best 84%, and it's on its way to being your best 83%. It depends a bit on when you start receiving your CPP retirement benefit as to how many years of contributions you need to get a "maximum benefit", but for age 65 it used to be 40 and it will soon be approx 39. Again, your earnings & contributions in each of those years must have been at the max rate, in order for your benefit to be maximum.
[OP]
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Maymybonneliveforever wrote: First off welcome and congrats on your recent retirement.


Questions, if I have no paperwork and am an early retiree, what is the best way to find out what I will collect from the government when I reach 65? Keep in mind I don't have an employer that I can talk to.

Firstly, thanks! Answer - the best way to find out about what you will collect from the government is probably by reading these forums. The second best way is checking Service Canada's website, and here is a weblink to the CPP calculator: http://www.servicecanada.gc.ca/eng/isp/ ... info.shtml
[OP]
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riskit wrote: thanks "Dogger1953" for answering my question earlier ..and I will be following this thread

:)
No problema, and welcome aboard!
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Dogger1953 wrote: Resident status has no impact on the CPP retirement pension, so if they previously contributed for even one year, they will be eligible for a CPP retirement pension as early as age 60, regardless where they living at that time. It's a little more complex for CPP survivor benefits, so the best I can offer now is "maybe". For OAS, eligibility is based on residence in Canada after age 18, and they would need at least 20 such years of residence if they are applying at age 65 from outside of Canada. There are international agreements with soem 50 countries though, that would allow someone to "totalize" residence or contributions in that other country in order to reach the magic 20 years. Entitlement however would still be based solely on the Canadian residence. So again without further details, the best I can answer is "maybe".
Thanks for taking the time to reply. You have been PM'ed for further discussion :)
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Xiaohaibao wrote: How confident should someone now in their 20's be that CPP will be there for them?
Others have already answered this question, but I'll add my support. The CPP will undoubtedly continue to evolve over the years, but I don't see it disappearing. If anything, I might expect that it will be expanded to replace more than 25% of your pre-retirement income. Of course, that would require higher contributions and/or other changes to the plan also.

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