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For maximum tax deferral, you want to take out as little as possible from your RRIF for as long as possible. One of the ways to stretch the income is to base the minimum income on a younger spouse’s ...

A question I’m often asked concerns how CPP benefits are calculated when someone is eligible for both a CPP retirement pension and a CPP survivor’s pension (commonly called a combined benefit). Many ...

There is a strong lesson in this example. For those of you who are still part of a defined benefit pension plan that is indexed or even partially indexed, be very happy with the type of pension you ...

The above contribution rates apply to all pensionable earnings that are above the Year’s Basic Exemption (YBE) of $3,500, and below the Year’s Maximum Pensionable Earnings (YMPE), which is $57,400 for ...

To calculate your CPP retirement pension, the first thing you should do is go online to the My Service Canada site and obtain your most recent CPP Statement of Contributions (SOC). Also on the My ...

According to the Canadian Bar Association, “The executor gathers up the estate assets, pays the deceased’s debts, and divides what remains of the deceased’s estate among the beneficiaries.” While that ...

While there is no annual contribution limit for Registered Disability Savings Plans (RDSP), there is a lifetime limit. For 2025, that amount is $200,000 per beneficiary. Contributions made in previous ...

As many Canadians can attest, it’s not always what you earn that counts, it’s what you get to keep. This is especially true if you are currently retired or are planning to retire in the near future.

Is OAS clawback a big issue? On one hand, the answer is yes because it is like an additional 15% tax on top of the current marginal tax rates. However, according to Human Resource Development Canada, ...

When planning for retirement, the first piece of advice I give is not to plan on getting the maximum. When you look at the average CPP payment, it’s just a little over $750 per month, which is a long ...

In basic financial planning, we often talk about the different financial stages of life. We start with the accumulation phase and then move into the income phase in retirement. In the retirement phase ...