Retirement Planning: Navigating the Surprisingly Complex World of CPP and OAS

Most Canadians will qualify for Old Age Security (OAS) payments and possibly Canada Pension Plan (CPP) payments when they are ready for retirement.

However, these programs, which can potentially affect almost all Canadians, are deceptively complicated when it comes to understanding the nuances of the pension entitlements and the factors that you should consider when advising clients on when to start receiving payments.

Join Maureen Vance CPA, CA for a comprehensive and practical discussion of CPP and OAS payments, including a review of some of the most commonly misunderstood aspects of the programs, such as the CPP “drop-out” provision and maximum survivor benefits. Case studies will be used to illustrate the impact of taking payments early vs later. Strategies to maximize the guaranteed income supplement (GIS) and minimize OAS clawbacks will also be discussed.

Topics covered will include:

CPP

  • The CPP statement: how to access it, and what does it mean?
  • Understanding the 17% drop-out provision
  • Calculating Survivor benefits
  • Splitting CPP with a spouse
  • Working and collecting CPP
  • Post-Retirement benefits
  • Enhanced CPP for 2019 and later years
  • CPP Death Benefit

OAS

  • OAS deferral enhancement
  • Utilizing the retroactive start date
  • Strategies to minimize clawback
  • Rights and Things return for deceased taxpayers
  • Qualifying for Guaranteed Income Supplement

Impact of CPP/OAS start date

  • Life expectancy and longevity risk
  • Anticipated pensionable earnings
  • Income splitting
  • Cash flow requirements
  • Estimated taxable income and marginal tax rate
  • Survivor considerations

Target Audience

This webinar will be of most interest to accountants and financial planners advising their clients on retirement planning. 

Professional Development Credits

Wolters Kluwer Canadian professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.

This Webinar Includes:

  • 30 days to review the webinar recording
  • Print version of the presentation slides