I am currently 50 years old. When I log into my Service Canada account to view my estimated Monthly CPP Benefits it shows me the following amounts.. If you choose to start your CPP (Canada Pension Plan) retirement pension: -- at 60, you could receive $791.87 per month -- ...
Aug 2nd, 2023 8:31 pm
In Schedule 8, CPP Contributions and Overpayment, "Actual total required contributions on CPP pensionable earnings" is smaller than "Total required contributions on CPP pensionable earnings" Shouldn't CRA try ...
Feb 27th, 2023 6:04 pm
Hello Group. Lets say I turned 66 today. On my birthday, last year, I could have received $1000 per month CPP. And lets say the CPI increase over the last 12 months was 7%. 1. Does this mean that today, one year later, at age 66 birthday, I would be receiving $1070 per month ...
Feb 2nd, 2023 11:35 am
CPP and EI are deducted from pay cheques till the deduction limit for the year is reached. I wish the amount remained the same throughout the year but it looks like the Govt. loves to front load us. So, with that being the ...
Jan 27th, 2023 2:56 pm
Just had an interesting conversation with a fellow here. I am on the camp of delaying CPP to age 70 despite this article: https://www.theglobeandmail.com/investing/personal-finance/retirement/article-thanks-to-a-rare-event-deferring-cpp-until-age-70-may-no-longer-always/ ...
Sep 28th, 2022 5:29 pm
Hey guys, I been trying to google some answers to my question but nothing comes up, and I dont know much about pensions, but an elderly person who has just immigrated to canada has asked me for some help. The person is 58, and will be starting a full time job in ontario. Salary around 35K. They are ...
Aug 30th, 2022 6:50 pm
... of not taking it until you need it (or forced to). [My very rough calculation was the breakeven for taking OAS at 70 is age 84, and I think for CPP was age 82 ("breakeven"=total lifetime payments from the program exceed what they would have been if taken at age 65), but even if I have ...
May 8th, 2022 2:37 pm
... their house and rent out a few bedrooms (1-2 rooms upstairs and 1 down in the basement) coming soon. They both receive around $1500 (OAS and CPP)/month, individually. They completely understand they need to file their rental income at the time they file an income tax return. Question: In ...
Feb 24th, 2022 8:41 am
... here is his question, with my answer inserted in italics : *************************************************************** Hi, Your site says max CPP 2022 is 1243 which is a 3.1% increase My website says that the maximum base CPP retirement pension for 2022 is $1,243.75. This amount is based on ...
Jan 9th, 2022 5:00 am
I have a corporation and just want to pay myself the maximum salary to claim full CPP. What is the difference between Maximum contributory earnings ($58,100) and Maximum annual pensionable earnings ($61,600)? It looks like the difference is simply the CPP basic exemption ...
Nov 19th, 2021 12:19 pm
If you're thinking of starting your CPP soon, the figures are now finally available to help you decide between starting it late in 2021 or early in 2022. Ignoring the enhanced portion of the CPP, if you start your CPP in 2021 in will increase ...
Nov 18th, 2021 1:00 pm
I started working in Canada and contributing to CPP in 2014 when I was 28, I am planning to retire in 2025 and by that time I will have a decent 11 years of working. My salary has been around 100,000/year for the past few years, and I expect it to ...
Aug 12th, 2021 8:44 pm
Anyone here still isn't able to update their banking information or contact information on service Canada?If I try to change anything I still get an error, giving phone numbers for the call center. It's been like this since they were hacked last year I think.
Jul 16th, 2021 3:58 pm
As I've been saying for over a year now, Service Canada is not yet paying the "enhanced portion" of CPP retirement pensions. Apparently, five years isn't enough time for them to reprogram their computers. Finally I was able to get some national media interest in this ...
Jun 25th, 2021 10:57 am
Hi folks My mother died recently and I am the executor of her will. Couple of questions: 1) CPP death benefit is paid to the estate – do I need a separate bank account to deposit the cheque 2) She had a joint account with dad. Do we need to inform the bank or do nothing ...
Jun 16th, 2021 8:53 am
I'm 55 and have looked at my Service Canada CPP estimate and there is a value displayed beside the heading "at 65, you could receive". The value displayed on the site is much higher than I calculate. The displayed value is almost at the ...
May 16th, 2021 11:59 pm
Hi, Does anyone know if any of the major public pension plans have publicly discussed integrating the enhanced CPP into their contribution and benefit rates? I looked around at several of the Ontario plans, and I'm not aware of any of them moving towards integrating it. But it ...
Apr 17th, 2021 3:57 pm
We have an employee turning 70 this year, I heard that people don't need to contribute CPP after 70 years old. So for small business employer, do we still need to contribute CPP to employee that is over 70 years old?
Apr 14th, 2021 11:52 pm
Okay so if one spouse is receiving CPP Disability, which does not allow you to earn any additional income over $5,500, how does this work if a spouse wants to pension split, with the T1032 either HOOPP pension? Let's say the T1032 would move ...
Apr 10th, 2021 4:04 pm
I paid salary to my employee on Feb 28th, I am supposed to pay employer EI, CPP contribution and remittance to CRA, how can I pay to them?Thanks.
Mar 7th, 2021 4:05 pm