Retiring Abroad | What Happens to CPP, OAS & GIS?
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- เผยแพร่เมื่อ 28 พ.ค. 2024
- Thinking of retiring outside of Canada? Want to be an expat? What happens to CPP, OAS and GIS if you do? Stick around to find out.
Business Inquiries: info@wellbuiltwealth.ca
Well Built Wealth: www.wellbuiltwealth.ca/
Links:
- Using a Social Security Agreement to Qualify: www.canada.ca/en/services/ben...
- Social Security Agreements: www.canada.ca/en/revenue-agen...
- List of countries with social security agreement with Canada: www.canada.ca/en/revenue-agen...
- Taxes on Benefits Outside of Canada: www.canada.ca/en/services/ben...
- OASRI: www.canada.ca/en/revenue-agen...
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Intro (0:00)
What happens to CPP? (1:42)
What happens to OAS? (2:24)
What happens to GIS? (4:48)
OAS Clawback (5:31)
Taxes (6:42)
Do your homework (8:05)
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DISCLAIMER: All videos on this channel (including this one) are for educational or entertainment purposes only. They are not (and are not intended to be) financial, investment or legal advice. It is our firm position that everyone has a unique situation and should seek professional advice on how best to navigate it. Rhys Martell is a Chartered Investment Manager (CIM), a Fellow of the Canadian Securities Industry (FCSI), a Qualified Associate Financial Planner (QAFP) and more. However, he is not registered to provide investment advice and, therefore, does not provide specific investment recommendations. Those looking for specific investment advice should seek out a registered professional.
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This is a little bit confusing, when you get GIS you absolutely can live outside of Canada, but you also need to stay in Canada for period 6 months and 1week, the rest of the time 5 months & 3 weeks you can live abroad. It used to be that Revenue Canada didn't check closely the times and weeks, however since the computers at our airports are sending info to the gov't, they know exactly when you left and when did you arrive, your GIS will be suspended if you are 6 months abroad, it's automatically done by computer, so anyone with GIS must really watch that they stay abroad only 5 months & 3 weeks, even one day over and benefits will be suspended. Good luck everyone 😊
When I retired I moved to the EU. I had myself declared a nonresident of Canada. I do collect my pension from where I worked and I do collect CPP and OAS. I have my pensions deposited directly into my bank account over here. I do my yearly taxes but being a nonresident I do not have to pay provincial tax and I pay less federal tax than if I lived in Canada. For me, it has worked out very well. Even if you are struggling in Canada I suggest looking into retirement elsewhere. It is a lot cheaper to live in the EU than in Canada even though I was told I was told I could not afford to live there. I have friends who have retired to Mexico and other countries in South America and said they are not sorry either. It does not cost anything to go online and check and do your homework. You would be very surprised. Canada has become a Sh*thole under this Liberal government.
How do you declare that you've become a nonresident?
Canadians just can't comprehand who bad they are fucked over with taxes and the health care. They are so worried about the health care which is not great at all and almost a lifesaver to avoid it having all these import doctors....
The problems of Canada today have as much to do with the conservatives as the liberals. It’s rich to retire into the social democratic european system and complain about liberals who are in many ways to the right economically of any number of european nations…
We moved to Czech Republic and saved thousands.
@@lattakia3812First line on your income tax - Were you a resident of Canada as at Dec. 31? No.
To recieve GIS and OAS the rules clearly state and i quote "You may not reside outside of Canada for more than 6 months". This DOES NOT say per year. Keep an Address in Canada, do not have your pension deposited into a foriegn bank account and return to canada once every 6 months.
He is correct about OAS
he said you get CPP & OAS even if you live abroad who is right
@@frankcentofanti9317 I said GIS and if you live abroad you may get a reduced amount. of OAS. THe cpp is not a problem.
This is amazingly clear and succinct! I've never heard CPP/OAS/GIS explained so clearly. Thank you!!
Oh wow! Thanks :)
What is very important when you leave Canada, make sure you apply for OAS before you leave. My wife and I left and it took 4 years to get her OAS. The government drags its feet wants you to fill out 21 pages of reasons why you left and will not communicate with you. They even ask the country (my wife) where she is from and contract Germany to ask permission to give this OAS to us. Yea, get your pension before you leave.
Wise words.
That's a potential issue for those that are planning leave long before becoming eligible for OAS
@@Gurkha9 Yes. Great point.
Great tip Thankyou!
What age can you start to apply for OAS? don't you have to be 65?
Bravo. The Best video that I have seen on TH-cam that I ever come across which explains in a nutshell retiring abroad with CPP & OAS. Many Thanks for your time. Congrats on 10K subs. ..!!!
Wow, thank you!
I was looking for these information for a long time
The main reason most of use want to retire in another country (besides the weather) is because we can't afford to live in Canada. If you qualify for GIS you're poor as dirt in Canada. Makes no sense people are disqualified from GIS if you don't live in Canada.
Makes perfect sense. GIS is a supplement for resident citizens of Canada based on the COL in Canada, not Germany or other foreign countries.
Makes perfect sense. GIS is a supplement for resident citizens of Canada based on the COL in Canada, not Germany or other foreign countries.
Makes perfect sense. GIS is a supplement for resident citizens of Canada based on the COL in Canada, not Germany or other foreign countries.
It makes sense the government doesn't give a shit and doesn't want to pay out pension money, so they invented the gis clawback
With proper tax planning one can get GIS if not dirt broke. Assuming no work pension but savings in rrsp. Take $2k per year rrif (not rrsp) age65. Use tfsa savings between ages 65 and 71 keeping taxable income super low.
Clear concise explanation. Thank you
Just came across your channel. Very informative, thanks. I subscribed.
Wow! I have watched countless videos on this very topic, and yet you have included a few very interesting facts that I had never come across. Thank you and well done.
Wow. This was helpful. Can't believe there is help for Canadians out there.
Thank you. This is very helpful👍
I know it was 8 mos ago but this was super helpful. I left Canada just before my 40th birthday to move the USA. I am now in my early 50’s and paying much more attention to retirement planning.
Thank u thats all I wanted to know u answered my questions.
Yeah.... You're back! Enjoy your videos and thanks for creating them.
Thank you!
Great video! I think by the time I retire many of these rules just might change!!
Romania has a treaty agreement on social security where it says you have to have equal rights with Canadians including GIC
Thank you for the info!
We were officially "Deemed Non Residents" while still in Canada, just before we retired to Mexico. Our CPP and OAS are deposited after tax into our Canadian bank. Since there is a tax agreement between Canada and Mexico, we are taxed federally at 15%. That includes my wife's super annuation. Given that we don't owe the tax man and the tax man doesn't owe us, we haven't filed in years, nor do we have to.
Treaty agreement between Romania and Canada it is said that even on territory of Romania you are entitled of GIC and if on territory of Romania is considered being on canada
Thank you , very good information.
Great job Rhys!
Thank you :)
Thanks for uploading. Really appreciate the info provided and how well you present it. Cheers
You’re welcome. And thank you!
@wellbuiltwealth
I was following another channel but... my eyes would glaze over... quickly! Stumbled upon one of your videos and... unsubcribed the other and subscribed here! Thank YOU for explaining in everyday people lingo. I'll certainly share it with friends.
@@lesliejackson149 Well, I think that might be about the best compliment I could get. Thank you!!
@wellbuiltwealth Your welcome. The truth doesn't always hurt. Sometimes, it gives you a pat on the back.
What about medical services?
Really good advice thanks. To avoid all this simply go on longer vacations. Canada is a slice of heaven on earth. Don’t leave!! 😊
governments change every 10 years too.
thank you for this content
My pleasure!
This man sounds like he knows what he's talking about. So after 1 video watched, I subscribed. Will be digging into your channel for more post retirement help, thank you.
Well, thank you sir!
Very helpful, thank you
Very interesting and informative. My wife is Colombian and we are looking to retire to Colombia when the time comes.
Sounds awesome!
Sounds dangerous but super affordable.
Was considering moving back to Scotland when i retired and wondered about this
Don't!! They have new hate speech laws and they seem to be under the spector of the WEF.
100% agree! My husband and I have already purchased our home in Italy… now we are just putting in the time at work until we can leave…
Change may come tho
Governments pay might not go into your account to support another country..
@@Gypseygirls it’s already well documented. In Canada government and private pensions are transferable. You cannot deny a Canadian citizen their earned pension . That’s the definition of communism.
@@Gypseygirls also, you continue to pay Canadian taxes on your Canadian income despite where you live
When I was preparing to retire I visited the local Service Canada office for information. The information they provided was quite informative, they said to talk to my bank.
Sheesh!!
With the release of the budet I'm rethinking my plans. And i was intouch we a family member that just did there taxes and they owe 690. At the age of 85 . I guess that's the thank you for working and never taking a penny of government money
He owed $690 because he had high enough income that it became taxable and the income tax deducted was just a downplayment, not covering the whole tax liability.
Interesting. As an aside. Something most have not considered because they are too wrapped up in living abroad is aging. I know of family that retired abroad and loved it. Now in their final years they decided to return home. There are many factors why. No family, friends have moved or passed, healthcare is not adequate for their needs, being not fluent in the local langauge, etc.... Eveythings all roses until it' not.
Canada - easy to leave, hard to come back. Esp. when on a limited budget and let go of your rent control apt.
Thx for upload 😮
Kewl vid Rhys! You da man!
😚
Excellent video content!! I still have 25 years to retirement but this video surely gives me a nice perspective in terms of planning and deciding where I want to go… good to know the country I was aiming at signed a tax treaty with Canada. Hoping it stays that way 25 years from now 😂
Great video.
Much needed info. Thank you for the information. So we'll explained
Well done!
Thank you!
Another outstanding Video. To the point and no .....
Great video
Thank You
Good. Thanks,
As you stated, If OAS is a social program, then yes I am entitled to it. Since all social programs are based on taxes, which I have been paying all my life. Hardly seems fair that those that do not pay taxes still get OAS.
My aunt was born in England and she had to become a Canadian citizen and was here for 60 years.
Very concise and clear. Thank you!
Thank you
I am a veteran with medical pensions and other benefits through Veterans Affairs Canada (VAC). When I was 59.5 I was encouraged to take my CPP early at 60, which I did 1st cheque arrived in Feb 2014. The downside was VAC contacted me IN JUNE 2014, and told me I owed them money (clawback) for the amount i had receiving for CPP. They reduced my benifits for the amount I was receiving for CPP. I never applied for OAS as it was the same deal with clawback for OAS. I contacted VAC in 2023 about moving back to Scotland (out in Canada on my own) got old and broken lol 😂, asked if there was any problems with doing that, they said I would lose 50% of my total (medical pensions/benefits) income, I’m assuming they meant Benefits rather than pensions?. Shelved moving out of Canada due to the potential financial loss.
I cannot wait to LEAVE Canada permenatly!
Me Nether ❤
I did.
Me too , and thanks God my country is in that list 🎉🎉🎉
And which country were you thinking about living outside of Canada 🇨🇦?
@@Spirit_Bear2 there are a lot to choose from
I went through this process moving from Ontario to Florida as a dual national. I receive both CPP and OAS. My OAS is 60% since I didn't live in Canada for 20 years after age 18. I had to go through the evaluation process by the Canadian government. I also proved non Canadian residency for tax purposes. On hiccup was l left Canada Jan 7 2022 so I had to pay partial Canadian federal taxes for 2022. For 2023 I pay no Canadian federal tax and show my Canadian income on my USA taxes. It's sad how little CPP and OAS are. In the USA social security can be $3500 per month if you paid the max. You pay no federal tax on SS and you can earn up to 50% and still pay no tax. So I pay no federal taxes and there is no state income tax in Florida. I do miss the snow.
We have to wait 2 years from now to complete 20 years living in CA. Do u think is worthy to wait those 2 years? Are they calculating day by day? I mean minus vacations days when we were out of CA?
That is some great info. What do you think about segregated funds being part of retirement planning? Many advisors are recommending these to take care of taxes. Thanks.
Thanks!
They have a time and place. Usually pretty high fees though so it definitely needs to be the right situation.
I have a friend in Australia who lived in Canada for 12-13 years, he receives OAS and CPP, so 20 years is not a requirement. And he didn’t apply for OAS, they found him.
20 years is not a requirement? Are u sure? We are waiting 2,4 years to make 20 years...but we will go tomorrow if it's right that 20 years is not a requirement to get OAS
@@adenicol9569 absolutely sure, but he does get a reduced amount because he was 7 years short of the 20. But why are you waiting anyways, he never even applied, I was there in Sydney when he received the letter from OAS. I was very surprised that Canada sends OAS cheques around the world, CPP of course, you and your employer contributed to CPP. Thing is, he didn’t apply for it, they found him, I had to explain what OAS is.
Thanks! Wasn't there a six month thing?
I was on board until he said contact Service Canada and they'll help you.
😂
Who will approve or who will process your paper works the postman??
My parents was getting about $1000/month each in OAS+GIS while living in Canada, got just $360/month when they moved back to Hong Kong. Now that they've returned back to Canada 7 months ago, they are still getting $360/month. I speculate they will need to stay in Canada for at least 1 year before they can apply to have their OAS+GIS readjusted.
GIS is only payable if residing in Canada for at least 6 months a year, it's residency based.
Thanks for all this great info. My understanding is that when living abroad and collecting pension, you keep paying federal income taxes but no provincial tax. Only if you no longer own any property or assets (I.e. vehicle) in Canada. Any truth to that? I’m told since you’re not using the provincial level services like healthcare, you don’t pay provincial taxes. But you keep paying federal taxes as a Canadian … would like to know 👍🏻
Thanks for this, so if you are planning on living abroad in a country that does have a tax treaty but does not appear on that second list you showed (say Italy or France), it means the treaty doesn't apply to, or cover the clawback?
Great video 🎉 How much tax should one pay on rental income after becoming a non resident if that was their only income?
Explain the Feb. '24 changes to OAS - If you haven't done so already. Also, the pros and cons of retiring overseas. In my situation I keep returning for 183 days in Canada just to get GIS. Otherwise I would kiss goodbye the high cost of rent.
Never understood why OAS is affected by which country one retires to. Or why one is not eligible for GIS when one retires to Istanbul or Bangkok. Aren't we saving tax payers the cost of infrastructute and healthcare? Most of all, I do not understand why GIS is not assets (versus income)-dependent. I get it but see it as welfare for seniors.
Becoming a nonresident of Canada has been very painful for me. Initially, I lost my TFSA without realizing it, and the CRA imposed a $20,000 penalty on me. Subsequently, I mistakenly continued my HBP payments, resulting in a $4,000 penalty by CRA. Furthermore, the CRA requested repayment of all PSD and GSD benefits I had received after becoming a nonresident. To add to the challenges, my OHIP health plan was canceled. Now, after 8 years, I am moving back to Canada..
Hi, what do you mean you lost your TFSA? You lost all the money in it?
I contributed to my TSFA after becoming nonresident, CRA contacted me and made me close my TSFA account plus 20k penalty which I had to pay to CRA. I found a way to save myself from paying penalty
What is that penalty for?
@@bornfree1888 %1 a month for over contribution, bank reports activity to CRA, they come up with penalty that nobody can understand,
@@bornfree1888 Overcontributing costs you %1 a month. Your bank will inform the CRA and CRA does its calculation which nobody understand.
There are many collecting GIS illegally outside of Canada.
To qualify many babysat their grandkids from their retirement in their country and sponsorship in Canada. Didn't really work with pay for the 10 years to qualify for OAS and hit 65 or in many cases 66 or 67 due to many trips out of Canada to return HOME. Thus 12 years to get 10/40 of max OAS. Without any apparent income as their money is hidden they get the huge GIS . Few get it. Not too many Canadians hit 65 without some income.
But foreigners do
And there are rules about taking GIS while living elsewhere.
Yes, we are thinking to move out of CA but not yet 20 years. Better to wait, right?
As an immigrant you need to have stayed in Canada 20 yrs to receive the OAS abroad. If you stayed abroad for 10yrs before reaching 65 are those years counted in the number of years after coming to Canada or do they calculate the number of years you are physically in Canada.
I am Canadian of 16 years and planning to relocate to Cyprus. Because I have not lived ion Canada for 20 years my OAS and more importantly my GIS will stop after 6 months living in another country. I see that Canada has a social agreement with Cyprus so there may be creditable periods to bring it up to 20 years. I also see that there is a maximum period for "initial detachment' for Cyprus and it is 24 months. What does this mean??
what those 36 or 60 months exactly mean, please, thank you
ya why are they docling me on my comp when i have to go fer therpy that costs money
Me I want out too!!
As of this month (April 2024), Costa Rica is not on that list. Dammit!
Neither is Panama. Yaiks
Where I can see the list of those countries?
How long do you have to stay back in Canada to keep qualifying for the pissing gis.
Every 6 months a year?
What about military and veteran affairs pension
I considered retiring abroad, but I couldn't go through with the operation.
Hi love your video series. Have 1 question im retiring abroad to a non tax treaty country, all the withholding tax for CPP OAS AND RRSP, do i get most of it back when i file my income tax return. Also if i fill out form 217 and NR5 do i get most of the withholding tax back
Thank you!
However, I don’t know your whole situation and I’m not a specialist in this area so I’m sorry but I can’t answer that one for you.
Sent email to you to confirm your information disillusioned dealing with CRA given the run around nightmare scenario!
Anyone planning to retire in India? Purchase power parity is good and life is better in southern states of India.
Thanks so much for this information. I just want to know, if we are required to spend some time in Canada each year, in order to keep receiving the OAS benefit, considering that we have completed the 20 years requirement. This would be an inconvenience, in many ways..., I appreciate your comments
Thanks. And nope. See the section starting at 2:24.
@@wellbuiltwealth Great! I appreciate your prompt response.
Hello there,
Another very interesting video....
I was wondering if you can suggest someone that could help with cross border taxes? David is my name and I intend to retire in Portugal, so that person should be someone that be familiarized with Canada/Portugal retirements....
Thanks in advance
Thank you! But unfortunately, I do not have someone I love in this space. Yet…
What happens if my hubby passed away and he only worked here in Canada for 6 yrs. I was denied cpp survivors benefits. What happens to his contributions thru the yrs? Am i still entitled for that 6yrs he contributed? We have 3 kids together. Pls help thank you
Thank you much! retiring in 2024 and retiring in my native country. my native country have a social security agreement with Canada but have a dual citizenship. I can receive CPP, GIS (24yrs+ employed in Canada) N OAS when retiring in my native country, right? Planning on a farm business there too.
Good work! But you cannot GIS if you’re a non-resident.
@@wellbuiltwealth wow! thanks much 4D reply. as you mentioned, CPP OAS GIS not enough (apartment rent alone takes about 2/3 of my CPP OAS GIS total budget) hence retiring in my native country.
lived experience 2024 : I am retiring in Europe, in return income Canada takes 25% of my Canadian retirement,
so even if your retirement is 500.1000 per month, " income Canada" will take 25% of the amount.
Not fair!
25% deducted to pension 25 % deducted to OAS that’s the rule I suppose
@@hercc6155 that's the rule ? Having 25% of the fruits of your life's work stolen! you are really a Canadian socialist-communist
It's called withholding tax. File a Canadian tax return and you may get some of it back depending on your Canadian income.
@@kkostadinof Thank you very much, I see for once that the comments on TH-cam bring added value and not just lol, ah! oh! wow! wonderful! I have no income in Canada, I have now put everything in Europe...But see, a system which obliges you, as a simple citizen, to be on the lookout for the 12,000 laws of "revenue Canada", which obliges you to produce declarations when they know that for 10 years you have no more income, it's the pot of earth against the pot of iron, it's the end of the free movement of Canadians, he's an authoritarian socialist, made up of a multitude of small state civil servants, a administrative nightmare for the elderly.
You might not get your government pay, to support another country..change is coming..
I was thinking of moving too Hawaii when I turn 65 . I have been collecting my CPP since I turned 60 and I’m still working when I turn 65 I get a company pension I will be at my 40 years of at the company so would I still get OAS with my company pension . I only make 48,000 for the year .
Not sure 48K would get you vert far in Hawaii. It’s pretty expensive there and our Canuck buck won’t buy much.
Well I’m glad I was informed thank you .. I have a friend that lives there and he invited me out there to visit ..Still nice too visit I guess
A bit off topic. Can I keep my TFSA account when I leave Canada? Or do I have to close it prior to leaving?
You can keep it!
You can keep it, BUT, you may not want to if you are paying tax in another country because that country may charge you capital gains on proceeds from your TFSA.
@@keninvic2627 May I add that we're not supposed to contribute further to the TFSA while non resident for tax purposes, otherwise a penalty will be imposed by the CRA.
@@GarthVonMaraner good point!
As for OAS, strange that Australia is not on the list yet Ireland and the UK are.
As I said here earlier, Australian citizens that lived in Canada are in fact getting OAS.
@@keninvic2627 Good to know as I might move to the Gold Coast where I have a unit. Plus the Oz exchange rate helps compared to the EU (1.5) and the USA (1.4) on the Canadian dollar. Plus I have my Dan Murphy's discount card, what more does one need?
@@a.c.e.7568 I was visiting my friend in Manly in 2019, he was 69. He had a letter from the Canadian government asking for information. He said, “they want more information or they are going to stop paying my CPP”. I looked at the paperwork, no, it is asking you for more information because you have not applied for OAS and as soon as you return this form they will pay you OAS. He had to decide if he was going to take a lump sum payment for the period from 65-69 years of age, or commence his OAS now and receive a larger monthly payment. He had no idea what OAS was but automatically qualified as he receives CPP. I had no idea that Canada sends OAS cheques worldwide.
If someone retire in USA does he or she need to stay 6 months in a year i n Canada to get OAS?
what about the GST rebate and the carbon tax rebate if you are out of Canada?
As long as you file taxes you receive it. My son is in China at university and he’s received it since it started. But we file his Canadian tax return every year since he left 🤷♂️🤷♂️
@@colingoldthorpe5918 So you basically lied that he is still a resident if he emigrated permanently.
@kkostadinof he is Canadian citizen anyway, dual citizenship
@@visnjalivancic3953 Being a citizen doesn't entitle you to a GST credit, being a resident does.
What is the Allowance? My parents are living CPP,OAS & GIS and I don't think I have heard of this allowance.
You can find out more here: th-cam.com/video/kzrb3qqvBuE/w-d-xo.htmlsi=eaGliZj53dXWMeNt
About people who are disabled and receiving odsp after 65?
if I retire to Argentina in 2025, my CPP and OAS will not be available to me?
Im planing to olso retire in Argentina,, next year i wander wat implications I face,
How can I live abroad and receive my pension. I live in Quebec now
How in the wide wide world of sports can Canada not have a social agreement with the UK????
Canada is hard enough to work in. It is almost impossible to retire in
I retired & have been receiving CPP, OAS & GIS wit automatic deposit. I plan to vacation/live outside Canada (China) for 5-6 months during Winter season. Do I have to tell CRA & Service Canada ? can I still receive my CPP, OAS & GIS during those time I’m out of country ?
As long as you’re a resident of Canada it shouldn’t be a problem at all. But you may want to contact service Canada to give them the specific details and see what they say just to be safe.
Why am I paying 25% witholding tax when Canada has a tax treaty with Brazil!
Look up the treaty. It must contain a relieving provision to reduce the rate. If not, it’s 25%.
What exactly is withholding tax?
It's money automatically withheld for or by the CRA and is considered a final tax on your income (for example CPP, OAS, Interest income, etc) regardless if you are supposed to owe more or supposed to pay less.
I am almost 55 and will be switching careers to be able to work from home/work longer! I will be spending part of the year in the US with my partner and part of the year here in Canada. I wonder how my pension will work doing this?
Awesome! As for the pension, I’d have to know more to able to speak competently about it all. Which is exactly the kind of thing we do for our clients :)
Keep detailed account of day of arrival and departure in both countries. When I moved to Florida in 2022 I found both cpp and oas extremely helpful when I called them.
@@stuarthutt3740For 20 years are they calculating day by day - I mean if they consider vacations days spent away of CA
@@adenicol9569 it depends where you are a resident. I left Canada to live in France and the USA since I wasn't a resident during those years outside Canada. I worked with OAS to establish those dates approximately. If you are vacationing it doesn't count. Now I am a dual national and have filed non resident of Canada paper work so not to pay Canadian taxes but I still receive OAS and CPP.. I have a friend in Toronto that has a house in Phoenix that keeps track of days in USA since you are only allowed 6 months in usa per year as a Canadian.
To collect CPP in Thailand will I need to return to Canada and stay here for any specific number of days?
No, it is YOUR money, you and your employer paid into the CPP. You don’t need to be in Canada to collect CPP.
Hello Sir
Thank you for your these wonderful informative videos. I follow all of them. You are one the best.❤
Quick question: how long we can stay outside of Canada after we receive our retirement benefits? What will happen if we stay more than 6 months?
Please advise.🙏
Thank you! You should always check your specific situation with Service Canada but there shouldn’t be a time limit.
That was my question, we are spending around 5 months in the Caribbean, we met a fellow from Ontario and he told us they reduced his pension because he stayed longer than the 6 month mark outside of Canada
I am a Quebec resident and I am planning to retire and go live in China with my wife. I am looking for an immigration specialist who can help me plan everything…Can anyone provide me with reference ?
So pretty much an immigrant who lived and worked in Canada assume 30 years upon hitting 65 will get OAS and CPP and thenapply and move to his her home country to retire as the money will be enough to live there. Worth more money..Right?
Probably. I can’t speak to the specifics of your situation but that all sounds about right.
So what happens in Alberta Canada if we pull out of CPP and start our own APP. Do I still get CPP and can I still move out of country.
Don't leave..you probably will might not get government pay while living and supporting another country...change is coming, be careful..