5 CPP Tips in 5 Minutes
Oct 26, 2023
If you know these FIVE tips you'll know more than 95% of the population about how to maximize your Canadian Pension Plan Benefit.
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Taking CPP early is much more punitive than you realize.
You must have a clear understanding of how payments will increase or decrease depending on when you choose to start the benefit. -
CPP is something that you pay into.
If you are a contractor or business owner and choose not to pay into CPP during your working years, you need to understand what this will mean during retirement. -
If you had children you may qualify for the child rearing provision.
If you took time off work while raising children under 7 years old, those years may not count towards your total CPP benefit and will help to increase your payment. Same goes for if you had CPP disability years. -
Non contributory years effect you less than you probably think.
Check out the website cppcalculator.com and get an understanding of how CPP is calculated if you decide to retire early. -
Survivor benefits differ depending whether you (the survivor) is under or over the age of 65.
Survivor benefit calculations are fairly complex - learn more about them on this YouTube video we did 'Understanding CPP Survivor Benefits'.
Hear all the details in the video below.
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