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Thanks very much for your reply. I visited the CPP plan office and was =
shown a chart that confirms for a few reasons I am far better off taking =
my pension now. =20
WXXXX
"David Ingram at home - bus at [email protected]" wrote:=20
=20
Name: Wxxxxxx=20
the_email: =20
My question is: Canadian-specific=20
QUESTION: Is someone better off taking their Canada Pension at age 60 =
or wait until 65? I am 60 years and am on a modest company pension. I =
have a small income from GIC's and other investments. If I understand =
correctly, If I start collecting CPP now at a reduced amount, at the end =
of twenty years I will have collected the same total amount as I would =
have if I started collecting at age 65 years. Thanks.=20
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david ingram replies: You will either like the answer or not like it. =
I am 61 and can't make up my mind either. If you die before you are =
65, there is no doubt that you would have been better off taking it =
now. I have decided to keep on contributing because I can and am still =
working. If I was retired and not going to work anymore, I am pretty =
sure I would take it now. A small thing but there nevertheless is that =
taking a smaller amount for ever could result in less clawback of the =
old age pension when you hit 65. Not much help but there it is. I think =
you should take it now unless you can tell me what day you are going to =
leave this mortal earth, in which case we could calculate your options =
exactly. If you know you are going to live till 90 for instance, you are =
definitely better off waiting longer to start. On the other hand, if you =
are a philanderer and might get shot by an irate husband next week, you =
should definitely start now. David Ingram's US/Canada Services=20
US / Canada / Mexico tax and working Visa Specialists=20
US / Canada Real Estate Specialists=20
108-100 Park Royal South=20
West Vancouver, BC, CANADA, V7T 1A2=20
Calls accepted from 10 AM to 10 PM 7 days a week=20
Res (604) 980-3578 Cell (604) 657-8451=20
Bus (604) 980-0321=20
[email protected]=20
www.centa.com www.david-ingram.com Disclaimer: This question has been =
answered without detailed information or consultation and is to be =
regarded only as general comment. Nothing in this message is or should =
be construed as advice in any particular circumstances. No contract =
exists between the reader & the author and any and all non-contractual =
duties are expressly denied. All readers should obtain formal advice =
from a competent financial, or real estate planner or advisor & =
appropriately qualified legal practitioner, tax or immigration =
specialist in connection with personal or business affairs such as at =
www.centa.com. If you forward this message, this disclaimer must be =
included."=20
This from "ask an income tax and immigration and bankruptcy expert" =
from www.centa.com or www.jurock.com or www.featureweb.com. Canadian =
David Ingram deals daily with tax returns dealing with expatriate:=20
multi jurisdictional cross and trans border expatriate problems for =
the United States, Canada, Mexico, Great Britain, the United Kingdom, =
Kuwait, Dubai, Saudi Arabia, South Africa, Thailand, Indonesia, Egypt, =
Antarctica, Japan, China, New Zealand, France, Germany, Spain, Italy, =
Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, =
Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, =
Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, =
Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and =
Canadian and Mexican and any of the 43 states with state tax returns, =
etc.=20
income tax wizzard guru advisor specialist consultant taxman Alaska, =
Alabama, Arkansas, Arizona, California, Colorado, Connecticut, =
Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, =
Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, =
Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, =
Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico,New =
York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon. =
Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, =
Texas, Utah, Vermont, Virginia, West Virginia, Wisconsin, Wyoming, =
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec City, =
New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, Yukon =
and Northwest and Nunavit Territories, Mount Vernon, Eumenclaw, Coos =
Bay and Dallas Taxman and Tax Guru Your name has been added to our =
email list because of an enquiry we have received, we may not answer =
your question but=20
another similar question will be as we lump them. You may find more =
answers at www.centa.com David Ingram of the CEN-TA REALTY Group=20
US / Canada / Mexico tax and working Visa Specialists=20
US / Canada Real Estate Specialists=20
108-100 Park Royal South=20
West Vancouver, BC, CANADA, V7T 1A2=20
(604) 980-0321 - Fax 913-9123 [email protected]=20
www.centa.com www.david-ingram.com =20
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