Comments on: Early Retirement in Canada http://1800hart.com/blog/2005/11/early-retirement-in-canada/ HART's mind works in mysterious ways .. someone should take advantage of that Mon, 09 Jan 2012 08:10:19 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: rene dohan http://1800hart.com/blog/2005/11/early-retirement-in-canada/comment-page-1/#comment-50818 rene dohan Mon, 20 Dec 2010 19:44:26 +0000 http://1800HART.com/blog/?p=269#comment-50818 I am thinking to stop working in two years .I am 55 years old now .I know i am no eligible to apply for yearly retirement pension till I am 60 . I have contribution of CCP etc now for last 12 year at least from my present employer .It is possible to stop work when I 57 years old and when I am 60 i can apply for yearly official retirement benefit ? Or I have to work till 60 of age to be able to get yearly retirement benefit .Please would you able to advice me I have no any knowledge about retirement benefit etc .Thanks Lots Rene Vancouver I am thinking to stop working in two years .I am 55 years old now .I know i am no eligible to apply for yearly retirement pension till I am 60 . I have contribution of CCP etc now for last 12 year at least from my present employer .It is possible to stop work when I 57 years old and when I am 60 i can apply for yearly official retirement benefit ? Or I have to work till 60 of age to be able to get yearly retirement benefit .Please would you able to advice me I have no any knowledge about retirement benefit etc .Thanks Lots Rene Vancouver

]]> By: HART http://1800hart.com/blog/2005/11/early-retirement-in-canada/comment-page-1/#comment-223 HART Mon, 05 Dec 2005 04:22:49 +0000 http://1800HART.com/blog/?p=269#comment-223 Hmm. That is strange .. You are correct John Skelton. I don't recall where I got my information. However, doing a quick Net search, I see this correctly or indirectly on the CRA website where it says 6% before AND after .. i.e. HERE: <a href="http://www.sdc.gc.ca/asp/gateway.asp?hr=en/isp/pub/factsheets/retire.shtml&hs=cpr" rel="nofollow">http://www.sdc.gc.ca/asp/gateway.asp?hr=en/isp/pub/factsheets/retire.shtml&hs=cpr</a> I see other quotes like what I place above in sites that suggest 6% before and 3% after age 65 .. HERE: <a href="http://www.caatpension.on.ca/Atrium/Planet/April_2004/Apr_2004.html" rel="nofollow">http://www.caatpension.on.ca/Atrium/Planet/April_2004/Apr_2004.html</a> Bottom Line - you shouldn't be waiting until after you are 65 to collect - but it's your right - and your pension. Thanks for correcting me! Hmm. That is strange .. You are correct John Skelton. I don’t recall where I got my information. However, doing a quick Net search, I see this correctly or indirectly on the CRA website where it says 6% before AND after .. i.e. HERE: http://www.sdc.gc.ca/asp/gateway.asp?hr=en/isp/pub/factsheets/retire.shtml&hs=cpr

I see other quotes like what I place above in sites that suggest 6% before and 3% after age 65 .. HERE: http://www.caatpension.on.ca/Atrium/Planet/April_2004/Apr_2004.html

Bottom Line – you shouldn’t be waiting until after you are 65 to collect – but it’s your right – and your pension.

Thanks for correcting me!

]]> By: John Skelton http://1800hart.com/blog/2005/11/early-retirement-in-canada/comment-page-1/#comment-222 John Skelton Sun, 04 Dec 2005 19:31:19 +0000 http://1800HART.com/blog/?p=269#comment-222 This statement: "For every year AFTER age 65 that you delay applying and collecting your CPP retirement benefits, they will ADD 3% extra each year (0.25% per month)" is contrary to everything else I have read on this specific topic. According to my understanding, if delayed beyond age 65, the CPP benefit increases by 0.5% per month to a maximum of 30% (60 mo. x 0.5%) by age 70. This is double the amount you have stated. This statement:
“For every year AFTER age 65 that you delay applying and collecting your CPP retirement benefits, they will ADD 3% extra each year (0.25% per month)”
is contrary to everything else I have read on this specific topic. According to my understanding, if delayed beyond age 65, the CPP benefit increases by 0.5% per month to a maximum of 30% (60 mo. x 0.5%) by age 70. This is double the amount you have stated.

]]>