The maximum Canadian Pension Plan and Old Age Security benefit you will receive at 65 in 2016 is around $14,000 per year. Now that’s if you are single and don’t have any other income. So don’t expect to depend on this income for retirement. At best, it should be considered a type of bonus on top of your real retirement income. That is if you ever retire.
So don’t expect to depend on this income for retirement. At best, it should be considered a type of bonus on top of your real retirement income. That is if you ever retire.
Yes, many Canadians are working well past 65 like that old guy greeting people at the Walmart. And continuing to pay taxes too. It is a financial necessity.
That is not bad. Work is a good thing at any age. It gives one a sense of accomplishment, a sense of belonging in the community and keeps one engaged and interested in life.
But seeing ones’ tax dollars being wasted is another.
Every Canadian should be on the alert about that.
That is why the Monitor Telegram is!