EVERYTHING You Need To Know About Government Pensions - CPP, OAS, GIS | Retirement In Canada

i recently did a video asking how do you know if you have enough for retirement and what are some of the myths or misconceptions about that and it seems as though that video may snowball into a little bit of a mini-series here i've had tons of feedback on two main things one is understanding the government the canadian government pension system and how to calculate how much i actually do need in retirement i solicited feedback on the last video i did and i had so much response on both of those topics i decided to just do those in order and the the logic behind it is this the canada pension plan and the old age security system in canada provide a baseline for a lot of people for a lot of canadians so it made kind of sense to me let's cover the the ins and outs of our government pension programs then in the second video we can look at how to incorporate those at uh those into your other sources of income in retirement and prepare those financial projections for for each for yourselves if you are younger you're probably thinking gee we're talking retirement here so i'm going to take a pass on this video i would urge you to stick around main reason is this with the canada pension plan the decisions that you make today especially if you're planning on retiring early will have a big impact down the road on what that government pension will be so we'll get into some of the nuts and bolts of that soon but just you know i'll urge you to stick around to watch this even if you are younger a couple of quick notes number one is there have been a lot of exceptions and special rules this past year because of covet 19. i'm not going to cover those off in this video they obviously are going to be temporary i want to talk about the the the base of the program i am also going to make a note i'm using numbers as of june 2021 the data i'm creating this video so in the pension plans there's a lot of numbers that change quarterly or annually and there's different thresholds so the numbers you're getting today will change so if you're watching this even literally three months down the road there will be some fine tune changes but that what you're going to learn today will still form the foundation and you can just make adjustments along the way so what are the major programs that canada the government of canada has put into place to help canadians with their retirement there are three major programs canada pension plan or cpp there's old age security or oas and there's gis which is the guaranteed income supplement now all of these programs are tied together there are a lot of similarities but they all have their own little quirks and we're going to cover those off today let's start with the canada pension plan a little bit of history just for a moment canada pension plan was started in 1965 and it was designed originally to replace 25 of your average earnings so the government felt this would be a good way to make sure that when people did retire they would have some money to provide for the basic necessities in life there is a limit there's what's called a year's maximum pensionable earnings and this is important because the government didn't say if you're making a million dollars a year we're going to replace and give you 250 000 every year there is a maximum amount that you can use to contribute towards pension plans originally the program was funded only by employees and employers there's a there's a matching system that is still in place today but there is now a new nuance in addition to that in in modern times over the life of the canada pension plan there have been two major reforms the first coming in 1997 and this was driven really by demographics when people realized that the huge bulk of people who were paying into the system now in a few years down the road 20 years or so down the road would be starting to retire and they would there wouldn't be enough money in the system if they didn't make some changes because all those people would stop contributing and they'd start drawing from that so the contribution rates doubled back in 1997 when the government saw this writing on the wall and said gee let's take some let's get some extra slush fund into the program at the same time they established the cpp investment board so this was a board that was designed to invest the extra or the surplus funds coming into the program so this is where it went from being employee and employer funded and now there's this investment component as well and that does form a big part of the growth of the canada pension plan the second major reform came in 2016 and it's kind of known as the enhanced program the main part of this program was over a period of years the that 25 that their program was originally designed to cover has been increased to 33 to form a larger base for individuals when they retire there was a definite phase-in period for this program from night from 2019 so just recently up through to 2025. clearly in a program like this in younger investors benefit more the program only became effective in january of 2019 so if you are already retired this enhancement has no impact on you even if you're late in your career it's going to have much less of an impact so this is designed for the younger people over the decades to contribute and have a better retirement benefit when that day comes for them main impetus behind this i think is just because in the old days when you started working for a company you belong to a pension plan it was very common that you had a defined benefit plan and you know when uh you know when it came your time to retire you'd have a guaranteed income for the rest of your life over the last couple of decades this really has changed and it's gone more to what's called a defined contribution plan which we'll get into in the next video in this series but the bottom line is people are saving fewer and there's less are saving less and there's less security in retirement so that was kind of the driving force behind this just to help and make sure people had some greater form of income when they retired so what is the canada pension plan what is the cpp it is a program that pays a monthly benefit a monthly pension benefit for the lifetime of the contributor notable it is taxable income so just like any other pension plan you're going to get this this does go on your taxes there are two things that you need to do to qualify to be in the program one is you have to be a minimum of age 60 that's the earliest retirement age in this program and you must have contributed to the plan during your earning careers now there there is one exception to that and is if you if there's a divorce or a separation the pension credits can be split so even if you are a spouse who has not contributed you may have gained some credits from going through a divorce or separation as i mentioned earlier employees and employers both contribute to the plan the current rates are 5.45 of your earnings every paycheck there's an amount taken off of your paycheck a 5.45 percent your employer matches that contribution and that gets sent into the government to form part of this program as i mentioned there is a limit and this is called the year's maximum pensionable earnings our ympe it's often referred to in 2021 that ympe is 61 600 there is what's called a basic exception of 3 500 and it's been that number forever and that basically means on the first 3500 of earnings you don't have to contribute to cpp so when you take that off of the ympe the maximum contributory earnings in 2021 are fifty eight thousand one hundred dollars if you do the math on that it means that if you earn that amount or more you will contribute three thousand one hundred and sixty six dollars and forty five cents your employer will kick in the same amount for a total of 63 32.90 note if you are self-employed you probably already know this but you will be responsible for paying both the employer and the employee portion of that program moving on now to how much you will expect to receive when you do collect cpp it's based on three different things it's based on your average earnings over your working career it's based on how much and for how long you contributed and it's based on the age that you start to take pension out of the plan currently the maximum monthly benefit that any individual will get is one thousand two hundred and three dollars and seventy five cents a month which is fourteen 14 445 dollars per year that's the maximum the average amount that people get paid is 619.75 a month or 74.37 a year so if the maximum that you can get in cp is around 1200 a month and the average person is getting between 600 and 700 so somewhere like 51 to 55 of the program the logical question is why why isn't everybody getting the maximum this is where we get down to the criteria or what it takes to get up to the maximum so some two of the criteria are that in order to get the maximum you must have contributed to the plan for 39 years at those maximum contribution rates also many people start early and so if you start taking your money out at age 60 or earlier than 65 you're going to take a reduced amount and we're going to cover that off in just a moment here this is where i referred to earlier if you are a younger investor it's so critical that when you look at that 39 year time period even if say you're 20 if your return you know a lot of people are planning on retiring earlier than 65 it's an awesome goal the thing is you need to make sure then that in the early years you're contributing as much as you can towards that yearly maximum because it will have a compounding impact down the road now there is some good news in this equation not everybody through their entire working career earns that contributory maximum and so the government automatically will reduce or allow 17 percent which works out to eight years if you work the full period uh your eight lowest years in this case will be taken out of the calculation so for low income years uh you're not going to be penalized so that's that's a positive thing now this is prorated so the 17 is assuming you work from age 18 to 65. if you do the math and the number of months you take 17 that works out to exactly eight years let's look at a quick example of if you don't work till 65 and you work fewer years than that maximum contributory period if you retire at age 60 and if you work from age 18 to 60 that's 504 months now 17 of that is 86 months or 7.14 per year so in this case the government would give you an allowance and reduce not the eight years but the seven years now if you're getting closer to retirement and you're trying to decide whether you should you know quit working now this is where another example of where this is important imagine that you're 60 today and you're thinking about retiring but planning on taking your canada pension plan at age 65. these five years between now and then will count as dropout years if you've had a lot of other no or low income years this is going to hurt you because this will be added to that that will reduce the average earnings and that will reduce your pension ultimately now if you've had no low earning years then you're you're in a good situation because you can take these five imagine you contributed the maximum throughout your working career and you take the next five off well that's not going to affect because that will fall into the eight-year time period so that's not going to end up with a reduced pension there are a couple of other dropout or low income provisions that you may be able to take advantage of as well that you should be aware of the first one is child rearing and if you uh were the primary caregiver for a child under the age of seven and because of that your income dropped or maybe you had no income during those years you can request that those are taken off of your off of your average earnings as well it is important you remember that you request those the other you know the the default eight years will automatically be calculated but if you're claiming for child care as well then you'll have to do that yourself another example of when you can have some years taken off is if you were on disability so there is a provision that if you are receiving the cpp disability pension which we're going to cover a little bit uh down the road here then those numbers also will be factored in and you won't be penalized for those so when can you start drawing on the cpp program this is kind of the crux of the program and something that a lot of people want to know you could start as early as 60 or as late as 70. the default age is 65 and there are some provisions that you need to be aware of if you start taking your pension plan early then your monthly benefit is going to be reduced by a proportion which we'll look at here in a moment on the other hand if you delay the start your monthly benefit is going to be increased so let's kind of look at some scenarios there if you start drawing from cpp before age 65 the formula is quite simple it's six percent each month reduced from the maximum pension or seven point two percent per year so as an example if you started age at age 60 the decrease is 36 percent quick mathematical example assuming that your pension eligibility is a thousand dollars a month and as we know for in many cases it's lower than that but just for the ease of math we're gonna use a thousand here because that's also quite possible then if you start at age 60 the thousand dollars is reduced by 36 percent and your pension will be 640 per month so quite a bit lower than this the thousand you would otherwise be eligible for if you start at age 62. the thousand dollars will be 21.6 percent lower that's that's uh you know three years earlier than you the normal entitlement date 7.2 per year 21.6 your pension will be 784 this doesn't go back up to the regular pension when you hit 65. if you take pension early that number is locked in for the rest of your life on the flip side of that if you defer your cpp and you start taking it after age 65 there is a 0.7 increase in the monthly amount that you will get uh which equates up to 8.4 a year again if you do delay it that number is locked in for the rest of your life so if you start at age 70 which is the latest then it is an increase of 42 over that time so a quick example there again assuming the thousand dollar monthly pension if you start at age 70 the thousand dollars is goes up by 42 so your pension would be 14.20 per month if you started at age 60 just to use another example the increase would be 16.8 percent which is uh one thousand one hundred and sixty eight dollars per month a logical question is and this is so commonly asked is when should i start taking it and there isn't really uh i don't think there's a really a scientific mathematical answer to that question because it depends so much on your own personal circumstances and let's look at a couple of the biggest the first one is what is your financial situation if you need the money today if you're turning 60 and you're eligible for pension and you're living just on the edge and maybe you are piling up debt there's a very strong argument that can be made for taking your pension now what are your current levels of income and what other sources if any do you have of income so i'm just distill it right down to this if you if you really need that money even though it might be financially advantageous to to delay it you really don't you you don't have the luxury of doing that another example or something you have to factor in when you're deciding is your health and if you come from a family with a long uh you know lines of living to a ripe old age well that might be something you factor in and let's just call it life expectancy and you might just say well if you know most of my family lives older then there would be a definite benefit in me uh delaying receipt of this and that will you know add up to more money at the end of the day conversely if you have a shortened life expectancy you know whether you know that now or whether you have a family that has a shortened life expectancy then you know you you will definitely want to factor that in and you know there might you might lean more towards taking the benefit early as well another factor you would consider is just what are your plans in retirement are you planning on continuing to work in retirement that will factor in we're going to be talking about old age security in just a minute here and your income from work from cpp will affect or could affect your eligibility for receipt of the old age security so that's just another again really personal decision or personal circumstances that we can't possibly cover off every scenario here but when we get to the next video and we start looking at sort of different sources of income that you expect to have in retirement this again will form the basis and a calculation as to what would be the best scenario for you there are a few other cpp benefits as well they're all part of the overriding program we're going to cover a few of those off right now the first one is the post retirement benefit now back in the old days you couldn't collect cpp if you were still working you had to retire and collect cpp now a lot of people got around that by you know taking a month or so off work going back and if their employer just held their job for them they'd retire have a period of time off i can't remember exactly what the minimum was it doesn't really matter anymore because it's no longer applicable the government kind of finally threw up their hands and said okay you can retire or sorry you can start collecting cpp without actually retiring so this post retirement benefit program is if you continue working while you're receiving cpp this is effective from ages 60 to 70 and basically if you're working and contributing to cpp you are part of this of this program i will make a note here because i forgot to mention it earlier the canada pension plan and the quebec pension plan are basically the same there are some minor differences but they're very closely aligned they're tied together so most of what we're talking about here if you live in quebec or if you're part of a quebec pension plan what we're talking about here today will be applicable in most cases right down to the penny as part of this post-retirement benefit program uh contributions are mandatory from ages 60 to 65 so you you start taking cpp but you're continuing to work you have to continue to in to make contributions during that time now once you're 65 or older you don't have to contribute anymore that's optional you still can and what will happen if you do is your pension benefits will be topped up on an annual basis and there will be an incremental gain or an interventional growth that incremental growth from the original amount that you uh your fact on your oas your gis etc if applicable so again this is where if you are a high income earner predominantly you're going to want to make sure that you're that there's a a reasonable trade-off that you're not jeopardizing receiving money from one hand and paying it out of the other hand your income level will largely determine that another of the cpp benefits is called the disability benefit and this is a monthly pension if you're under 65 and you are unfortunate enough that you have a severe and prolonged disability that essentially uh prevents you from you know day-to-day functioning and certainly from working if you've made sufficient contributions previously to the to the canada pension plan and you're not currently receiving cpp then you will be uh you will be available you'll be a beneficiary of this part of the program and you will receive that benefit up until age 65. this disability benefit also applies if you're in the post-retirement phase if you're already receiving cpp for less than 15 months or if you become disabled after you're started to receive your benefit then you will also be eligible it's important to note that both of these programs automatically become regular cpp when you hit 65. a couple of other quick cpp benefits as part of the program is one of them is the children's benefit and this is if you are receiving the cpp disability benefit and you have children under the age of 18 or 18 to 25 but attending a full-time school there is a flat rate that is adjusted annually and you will qualify for this as well currently it's 257.58 a month and the last benefit is the death benefit and this is a one-time lump sum benefit of 2 500 that is paid to your estate and in order to receive this it's not across the board the deceased must have paid into the canada pension plan a lot of people ask okay so i'm 60 or i'm 65 does this money just start showing up does the government know that i've earned this much and start paying it no you have to apply for cpp they do the number crunching but you actually have to make the application now there's a couple of different ways you can make it if you make it online which is the preferred way you you're you should be approved for the program in seven to 14 days on the other hand if you're kicking at old school and you use the mail or you drop it off at a service location service canada location the expectation is that you are going to be about 120 days waiting for that so online uh you know wins that one up if uh if that's a possibility for you if that's an option lastly on the topic of canada pension plan if you forgot to apply or if you've just changed your changed your mind and you want to apply you can actually apply retroactively for up to 12 months after the age of 65. now it's actually 11 months in arrears plus the month that you apply so essentially 12 months that you can go back if you've started taking cpp and for whatever reason you decide you want to cancel it that's an option as well you can cancel up to 12 months after you've started but logically you're going to have to repay any benefits that you have received up to that point i think that's fair as you can see the canada pension plan is a somewhat complicated program it's not you know impossible to figure out but there are a lot of little nuances and decisions that you have to make along the way practically everybody who works at some point during their career will be a beneficiary of the canada pension plan so just having a basic understanding of how that works whether you're young now or whether you're you know on the verge of starting to collect cpp is important we're going to move on now to the second major component of our national pension system and it's called old age security or oas quick history on oas oas was started in 1952 it was originally designed for people who were 70 years or older paying a monthly benefit again to help with low income earners at the time that number is now down to age 65 rather than the 70 that started at a big difference between oas and cpp is that oas is not related at all to your earnings you can actually earn zero because you're not contributing to the plan it's more in general revenues to be eligible for cpp there's a couple of different scenarios here number one is if you live in canada if you're 65 years or over if you're a canadian citizen or a legal resident and if you have resided in canada for at least 10 years since the age of 18 you will be eligible to receive some old age security also if you're living outside of canada and you're 65 or older you have been a canadian citizen or legal resident on the day before you left canada and if you've lived in canada for 20 years or longer you too will be eligible to collect some old age security there is another category of people who work outside of the country if you work for canadian employer or if you work for example the armed forces and your job requires you to be out of the company out of the country rather then you may have that time that you worked abroad counted as residency and forming part of the you know that 40-year time period to collect the maximum oas if you are in this bucket there's some criteria number one you must have returned within six months of your employment ending you must have turned 65 while you're still employed and you must have maintained your canadian residence during your time away one other way of being eligible for the old age security if you lived in a country that canada has a social security agreement with and there are about 60 of these countries a little bit over 60 across the globe and if you contributed to the social security system of one of those countries in many cases you can combine the contributions you made there with the canada system and you will be eligible for old age security uh you know from the canadian government here so when does oas actually kick in when do you get your first check as i mentioned earlier you have to be 65 or older to collect oas and so automatically on your the month after you turn 65 you will get your first oas payment from the government or you can specify a date if you want to defer it much like the canada pension plan you can defer or delay your benefits up to five years the benefits in this case increase by point six percent every month or seven to seven point two percent a year and in this case you do have to notify service canada unlike cpp in most cases if service canada has the correct information for you on file they're just going to start sending you that check on the first month after your 65th birthday so if you want to delay that you have to be proactive and notify service canada ahead of time just like cpp should you get it when you're 65 should you should you delay it it comes down to your personal circumstances same things as we looked at before uh your health your life expectancy if you have a shortened life expectancy take it now if you have a longer life expectancy you might want to consider deferring it financial circumstances also come into play here do you need the money this is very similar to what we looked at in canada pension plan you may not have a choice if you want to just you know basically survive another thing that comes into play with old age security is if your income is high you might want to consider delaying it or is your spouse or your common law partner applying for what's called the allowance that we're going to cover off in a few minutes here those are personal decisions that you're going to have to make to determine the best time for you to start taking your old age at your old age security so the big question is how much do i get if you belong to that camp that has 40 years of residency here in canada then you will qualify for the current maximum amount which is 618 dollars and 45 cents a month if you have fewer than 40 years in canada there is a formula essentially you take the number of years that you've lived in canada you divide that by 40 for example if you lived in canada for 20 years you take 20 divided by 40 that's 50 you will get 50 of that benefit the amount is reviewed four times a year and it is adjusted to the consumer price index or to inflation old age security benefits are taxable and just make a note here that the taxes are not automatically deducted at source so if you are concerned about you know next year when you file your income tax return just factor that in that there's nothing withheld that you can request money be a percentage b withheld but by default there is none there no discussion on oas would be complete without broaching the topic of the benefit repayment or the clawback as it's known and there this this benefit is designed to complement or to supplement income to a certain point and if you're a high income earner it's possible that you may have some or even all of this benefit clawed back so let's talk let's take a look at that the amount of income that you will receive as oas payment is based on your income from the previous year and somewhat confusingly the payment period is july to june of the following year and this is so that you can file your tax return you know for example we're 2021 right now but we didn't know until a couple months ago what your income or you didn't file your tax return for 2020 for 2020 so once you file that the new benefits will be adjusted from july of this year going forward so currently july 2021 to june 2022 the payments you receive for those months are based on 2020 income there are thresholds that determine if you have to pay back some or all of the benefit the 2020 income threshold that is used to determine the benefits that you'll be receiving july starting july of this year is seventy nine thousand fifty four dollars on the low side and a hundred and twenty eight thousand hundred and forty nine dollars on the high side in other words if you earned that more than 79 054 in 2020 your benefits will be reduced this um this year and it's on a sliding scale up until a maximum of 128 149 planning for next year the 2021 income that affects next year's oas those numbers typically climb up every year the minimum will be 79 845 so you can earn up to that much and this is net income without having your benefits affected if you earn 129 260 or more you're better you will lose all your benefits you hear a lot of griping about how you know the government's out to screw you and they have this system in place but practically nobody gets oes that's just not the fact uh about five percent of canadians have any amount clawed back so at the lower end of that threshold 95 of people in in retirement have a net income of lower than that so five percent gets some money clawed back and it's only about two percent of canadians who have the entire amount clawed back so you know i've always said if you're in that two percent i mean that's a i look at that as a positive there are things you can do i mean it doesn't mean don't get the the benefit if you're entitled to it and there are some things that you can do to to help with that so let's look at some of those right now if you're age 65 or older you can split income with your spouse and that will help bring your net income down which may take you down below a threshold of roughly 79 000 for those of you who are fortunate enough to be high income earners be aware that if you're planning on starting to take your oas at age 65 and you're still earning high income at age 64 above that threshold you will have all of your oas clawed back when you apply for your 65th year it might make sense in that case to just defer it to the following year and you will get that you know the the slight increase there as well also watch for capital gains if you have an asset that you're selling that goes into the calculation so maybe it's a business or maybe it's a property or whatever the asset it doesn't really matter if you're receiving oas and you sell that and have a capital gain that takes you again into or above that threshold that number will be calculated into the formula and you will it may reduce your all the old age security payments in the following year in that case how do you apply for oas well as i mentioned earlier for most canadians the enrollment is automatic so service canada will will just automatically start on the first month after your 65th birthday they will start paying you if you receive notice from them that they don't have proper information on hand they will notify you and then you must apply you can apply online uh and the earliest you can apply is one month following your 64th birthday birthday and when you apply for oas you must be living in canada much like the cpp you can apply retroactively up to 12 months now this would be if you're already over 65 obviously i have a couple of more housekeeping points if you're an oas recipient now is uh if there's major changes in your life so some of these changes include if you become married or enter into a common law relationship if you divorce or separate if your spouse or partner dies or if the recipient dies then your estate has to notify service canada so that they can make the appropriate adjustments to the plan the third major element to our public pension plan is what's called a guaranteed income supplement and this truly is designed to help low-income earners um just give them a bit of a leg up in retirement the program started in 1967 and originally was designed just to complement a canada pension plan phase in as the program got ramped up but it was later made permanent and as i mentioned is designed to help low-income earners to be eligible to receive the guaranteed income supplement you must be receiving oas their you know sister programs you must live in canada and you must be age 65 or older as if the numbers we've been throwing around here today aren't mind-boggling enough or confusing enough there's a few more to go before we're finished with the gis and there are income thresholds or income levels that you cannot exceed to be eligible for oas let's take a quick look at those right now if you are single widowed or divorced and your income is below 18 744 you will be eligible or you may be eligible for the guaranteed income supplement and then you can see those numbers depending on the circumstances will also be applicable if you have a if you have a family income if you're not if you're not a single person these this income is not taxable so there's one good thing you know cpp is oas isn't but gis if you're in a situation where you have to receive that then then it's not a taxable income the amounts that you receive uh single widow or divorce the amount is 923 dollars per month that's a flat benefit if you have a spouse or a partner uh it'll range from 556 dollars up to 923 depending on household income another part of this program is what's called an allowance for the spouse or the partner here's how that works in order to be eligible for the allowance there's a number of criteria that have to be in place you have to be age 60 to 64. your spouse has to get the full oas and gis you have to be a canadian citizen or legal resident you have to reside in canada and have resided in canada for at least 10 years and the household income has to be a combined income of less than thirty four thousand seven hundred and four dollars in this case if you do meet these criteria the monthly benefit is one thousand one hundred and seventy four dollars and forty nine cents as i said earlier subject to change and finally on the allowance for the survivor so again the criteria if you're age 60 to 64. canadian citizen reside in canada for at least 10 years and your spouse has died and you have not remarried the annual income and your annual income is less than twenty five thousand two hundred and seventy two dollars you are eligible for a benefit the benefit in this case is one thousand four hundred dollars and five cents a month that's a lot of information looking at pension plans and crunching the numbers and and understanding all the rules that apply to these different programs is it's not particularly exciting uh information it's important information and a vast majority of canadians will participate in these programs at some point down the road so if you're still watching the video at this point i mean kudos to you thumbs up to you because uh you've stuck around and and um your mind's probably you know going nuts i will put at the bottom uh of the underneath the video here i will put links to service canada and some of the resources i referred to so you can go and look at some numbers as well for the next video in the series this is going to form a big part of that so knowing how much you're going to by default get when you get into your retirement years is important we're then going to take that and look at analyzing other sources of income how they all tie how they combine with your cpp if you between now and then if you want to determine how much you're eligible or how much you'll expect to get you can go onto the service canada website and with you with entering the appropriate information you'll get a projection you can actually get a history of all the years that you've worked and the the amount that you've contributed so you can see you know compare back to that ympe and see how close you were to that and also it'll project at age 60 and i think age 65 maybe even 70 if you retire how much income you're projected to get based on this information here so i really hope that this uh has been at least informative to you and uh we're going to like i say we're going to tie this into the next video which will be coming up probably next week so i really appreciate you watching and participating in this and we can get into just i think some more exciting stuff in the video to follow as always if you have enjoyed the video if you felt it interesting really appreciate a thumbs up maybe like the video that would be much appreciated and i will wrap this video up and i really look forward to seeing you in the next video

Channel: Brandon Beavis Investing

Views: 501,229

Keywords: canada pension plan, old age security, financial planning, retirement planning, guaranteed income supplement, retirement income, pension plan, how much do i need to retire, income in retirement, old age security canada, old age security explained, old age security in canada, retirement in canada, cpp explained, canadian pension plan explained, guaranteed income supplement explained

Id: BU8EcXYIn2o

Length: 35min 34sec (2134 seconds)

Published: Sat Jun 12 2021