Hi! Thanks for the video I was wondering how long do you get paid cpp? Is there is a limit of how many you years you’ll be paid or you receive payments till the end ?
@jansupronowicz1300
3 жыл бұрын
What will be percentage increase in CPP benefits from 2021 to 2022? Specific numbers, please if known at this time, not just "adjusted for inflation". American SS quotes 5.9%. What is the corresponding figure for Canada?
@JPB-wy5cl
3 жыл бұрын
According to My Service Canada account, if I was 65 right now I would receive $1177.30 per month or if I take the CPP at age 60, (I'm currently 59) I would receive $753.47 per month. If I take the CPP at age 60, keep working and pay into the CPP, will my monthly benefit still increase? Or, since I am at my maximum, am I locked in at $753.47? (Not including the yearly cost of living indexing increase).
@TheIndependentDollar
3 жыл бұрын
Hi JPB 3137, if you decide to take CPP and continue to work while paying into it, you are then paying into a CPP Post-Retirement Benefit. This will increase the amount of total CPP you will receive, even if you've maxed out the normal CPP contributions. While they are 2 programs, you will receive the total in one payment. There are some differences though between the two when it comes to income splitting and death benefits for the portion relating to your CPP Post-Retirement Benefit. Thanks for the great question!
@zoranlukic3391
Жыл бұрын
Only problem with max CPP and OAS in Canada you can't cover basic needs as rent ,food and medicine so thanks Canada for making senior life miserable.
@garth217
Жыл бұрын
Only if you had a poor paying job and didn't save. I'm concerned that I will get my OAS clawback. It's not fair that I worked hard and was successful and for that I get penalized
@qtymp4rt1
3 жыл бұрын
I am 55 years old.......... in December I stop working .... can I now schedule my retirement at 60? .... thank you
@bluestar1740
Жыл бұрын
hello Ma’m,, what if go back to my home country ( im Dual citizen ) can i still Receive my CPP? im 71 years old and Retired.. How can i get my Monthly CPP? can my CPP be Deposited to my Bank account in my Home country ? Waiting your REPLY.. THANK YOU
@francessblakely3560
3 жыл бұрын
What if you had to take CPP disability early?
@tegbirgill1989
3 жыл бұрын
If i leave Canada after working 2-3 yearsin canada... can i claim CPP outside Canada after 65 year age??
@charlesharper2357
3 жыл бұрын
You have to work at least 10 years in Canada. Your CPP benefit is divided by 40 and multiplied by the number of years you've paid into CPP.
@distantshipg7764
4 жыл бұрын
what will happen if I continue working full time as I am now and collecting CPP? the HR takes $350 each month off my pay for CPP. Is it not better to wait until 65 instead of collecting the CPP at 30 something less?
@TheIndependentDollar
4 жыл бұрын
Hi Distant Ship G, if you're between 60-65 you will still need to pay into CPP if you're working full time, even if you are collecting it. This will increase the amount of CPP you will receive in the future. If you don't need the money and your income in retirement will be lower, it may make more sense for you to wait until you retire, since any CPP you collect right now will be taxable income. I would suggest speaking with your accountant to run both scenarios to see which options makes the most sense for you.
@distantshipg7764
4 жыл бұрын
@@TheIndependentDollar thanks a lot, I have a room in my RRSP, so i will be pushing the whole amount that way, but if I continue doing so until 65 and stop working, will my CPP be higher than right now?
@MrWigby
3 жыл бұрын
How do i know how much tax to withhold
@TheIndependentDollar
3 жыл бұрын
Hi Doug M, it will depend on how much income you expect to make in the year. Your best bet would be to speak with your accountant or take a look at the tax brackets on the CRA website to see where you fall in. Worst case, when you file your taxes next year you will have a good idea how how much more or less you should be taking off depending on your balance owing or refund.
@MrWigby
3 жыл бұрын
@@TheIndependentDollar Thanks makes sense
@robby6770
3 жыл бұрын
WHAT IF I GET OAS AT AGE SIXTY FIVE AND HOLD OFF CPP TILL AGE OF SEVENTY CAN I DO THAT
@TheIndependentDollar
3 жыл бұрын
You could hold off on CPP until age 70. You would want to run the numbers to make sure thats to your maximum benefits, or ask an accountant to take a look for you.
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