If you want to understand how the "enhanced CPP" changes affect you, read this article:
https://retirehappy.ca/enhanced-cpp/
Understanding the "enhanced CPP" changes
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Understanding the "enhanced CPP" changes
DR Pensions Consulting (http://www.DRpensions.ca)
Re: Understanding the "enhanced CPP" changes
Thanks, Doug, very informative.
The difference is an extra $37 a month ($400 or so per annum) compared to current rules (of course, longinvest's argument to delay the CPP until age 70 remains valid).
In my case, the longest I can imagine working is until the end of 2024 (age 62).As you can see, if you’re thinking of applying for your CPP earlier than 2025, the enhanced CPP will be of little value to you. However, for each year of pensionable earnings beyond 2024, the changes mean that your maximum CPP retirement pension will be approximately 1.3% more than under the current rules.
The difference is an extra $37 a month ($400 or so per annum) compared to current rules (of course, longinvest's argument to delay the CPP until age 70 remains valid).
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“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
Re: Understanding the "enhanced CPP" changes
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