Sentences with phrase «like old age security»

This is particularly important when you might not only be paying more tax with delaying RRSP withdrawals, but also losing entitlement to government benefits like Old Age Security (OAS) and Guaranteed Income Supplement (GIS).

The big bugaboo is the combined impact of income tax and clawbacks of government benefits like Old Age Security (OAS).

If you anticipate consistently earning under $ 35,000 annually, the TFSA makes the most sense because it won't result in the clawback of income - tested benefits in retirement — like Old Age Security (OAS) and the Guaranteed Income Supplement (GIS).

This could even impact his entitlement to certain government benefits like his Old Age Security (OAS) pension.

This means that whatever you draw from the TFSA will not impact «income - tested» benefits like Old Age Security or the Guaranteed Income Supplement.

The Liberals had said during the campaign that they had no plans to count withdrawals when it comes to income testing for programs like Old Age Security or the Guaranteed Income Supplement.

Any amounts received from a reverse mortgage don't affect government benefits like Old Age Security (OAS), Canada Pension Plan (CPP) or Guaranteed Income Supplement (GIS)

The reason is that government subsidies like Old Age Security and Guaranteed Income Supplement are based on income.

By the same token, if your salary is relatively low and you want to maximize future sources of government retirement income like Old Age Security and / or the Guaranteed Income Supplement, then again the TFSA is compelling: all withdrawals will be totally tax free and not trigger dreaded «clawbacks» of OAS or GIS.

In addition to drawing income from your portfolio, you'll need to combine it with government pensions and possibly employer pensions, while accounting for potential clawbacks to government benefits like Old Age Security.

This is especially likely in the years before they qualify for government pensions like Old Age Security or the Canada Pension Plan, or if they are old enough to collect but choose to defer those benefits to perhaps their late 60s.

The result for the family who uses corporate class funds is the opportunity to structure taxable income from non-registered accounts to keep more of the first dollars invested, avoid high marginal tax rates and limit clawbacks of social benefits like the Old Age Security.

A bonus for retirees: The money you withdraw from a TFSA isn't considered income, so retirees can take money out without it affecting retirement benefits like Old Age Security, which decreases with higher income.

This time he thinks the Tories can be convinced to make changes, in addition to not increasing the annual contribution limit, like setting a lifetime limit on holdings that would be tax - free and making sure withdrawals count against income - tested programs like old age security and guaranteed income supplement.

Like Old Age Security, the qualifying age for the Canada Pension Plan retirement pension would be reduced to 65 over the five - year period between 1965 and 1970.

Like Old Age Security and the Guaranteed Income Supplement, the Canada Pension Plan was placed under the general administration of the Department of National Health and Welfare, although the Department of National Revenue would take care of matters related to the collection of contributions.

Such high rates can claw back benefits like Old Age Security.

Not exact matches

In isolation, old age security (OAS) and other elderly benefits, like the Guaranteed Income Supplement, are sustainable as Canada's population ages, according to Parliamentary Budget Officer Kevin Page.

Still, they have important implications for public policy as it pertains to underfunded old - age entitlement programs like Social Security and Medicare, as well as the tax treatment of retirement plans and savings accounts.

Similarly, if the government reduces taxes (like the GST) and then argues (incorrectly) that the old age security program is not sustainable we can examine their analysis and policy logic.

Superficially, this might seem like there's some truth in the age - old clichés that women seek the security of the well - earning man.

Likewise for certain tax credits and pensions that are paid out over the course of the year based on your income on your tax return, like the GST / HST credit and Old Age Security pension.

It's difficult to comment on what option would be best as I would like to know the value of the vehicle as well as the amount of the Old Age Security.

But if have a lower income and predict that your retirement income will be similar to what you currently make, then you may even want to focus on your TFSA, since withdrawals from that account won't affect things like old - age security.

We'll look at this other book in more detail in an upcoming column but suffice it to say for now that Milevsky makes a distinction between a real pension — the DB pensions on offer by employers and also government benefits like CPP and Old Age Security (OAS)-- and capital - appreciation vehicles like RRSPs, TFSAs and even Defined Contribution pensions.

From there, the idea of government responsibility in providing economic security and welfare grew, from unimaginable realities, such as the English Poor Laws of 1601 that called for the dependent poor population to wear a shameful P on their clothing, to shadows of our present Social Security system, like Thomas Paine's Agrarian Justice that called for a system that included annual benefits of 10 pounds sterling paid to every person age 50 and older, to protect against poverty in olsecurity and welfare grew, from unimaginable realities, such as the English Poor Laws of 1601 that called for the dependent poor population to wear a shameful P on their clothing, to shadows of our present Social Security system, like Thomas Paine's Agrarian Justice that called for a system that included annual benefits of 10 pounds sterling paid to every person age 50 and older, to protect against poverty in olSecurity system, like Thomas Paine's Agrarian Justice that called for a system that included annual benefits of 10 pounds sterling paid to every person age 50 and older, to protect against poverty in old - age.

But in the pre-RRIF years of your 60s, if you can live on some of the above income streams, it may be advantageous to delay employer pensions and government retirement income sources like the Canada Pension Plan and Old Age Security.

Seniors whose income may exceed $ 70,000 need to be particularly mindful given their RRSP withdrawals may cause a clawback of their Old Age Security pension, which acts like an extra 15 % tax on income.

As are programs like the Canada Pension Plan (CPP) or Old Age Security (OAS).

In retirement, withdrawals from RRSPs and RRIFs can lead to clawbacks of Old Age Security and other government programs like the Guaranteed Income Supplement.

And the second is an exclusive focus on the traditional «three pillars» of the pension system, which include Old Age Security (OAS), the Canada and Quebec Pension plans (C / QPP), and voluntary pensions like RRSPs.»

Don't forget to account for future government benefits like CPP and Old Age Security, either.

Most people have government pensions like Canada Pension Plan and Old Age Security in retirement to provide at least a base for their income, but less and less of us are retiring with a gold - plated workplace pension that replaces our salary.

A DB pension that includes a bridge benefit prior to age 65 is a way that some pension plans front - end load the pension on the assumption that most people don't start other pensions like CPP or Old Age Security (OAS) until age age 65 is a way that some pension plans front - end load the pension on the assumption that most people don't start other pensions like CPP or Old Age Security (OAS) until age Age Security (OAS) until age age 65.