General Discussion
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(51,502 posts)zentrum
(9,865 posts)Always doing things for their people!
knightmaar
(748 posts)You may retire whenever you wish, withdrawing money from your personally managed, income-tax sheltered retirement plan at any time (it just counts as income as you withdraw it).
The Canada Pension Plan (like American S.S.?) can start as early as 60 or as late as 70, but the amount is reduced the earlier you start. The payout depends on your lifetime contributions.
The Old Age Pension can also start at 65, if you didn't put enough money into CPP. It depends on you being poor and having no other means of support.
(I know, I know. No one really cares and I'm ruining the joke, but you're talking about my country, dammit
MustLoveBeagles
(11,580 posts)Thanks for sharing
knightmaar
(748 posts)BobTheSubgenius
(11,558 posts)It's not "gracious living," by any means, but with no debt except taxes and insurance being our only fixed expenses, it's reasonably comfortable.
And, for some weird reason, the province (BC) has started chipping in almost another $350 a month, and have confirmed this isn't some kind of Covid stimulus, or GSTPST rebate, and will in fact keep on sending it.
I know you know this, but...is this a great country, or what?
MustLoveBeagles
(11,580 posts)Old Terp
(464 posts)I didn't want to go home.
BobTheSubgenius
(11,558 posts)Thank you. We appreciate it.
LudwigPastorius
(9,092 posts)My Grandpappy didn't storm the beaches of Normandy, fighting back the evil Communist Germans, in order to have to come back home and have some kind of secure retirement income foisted on him!!1!
DErp