In Canada, we have so many systems set up to help us in the long run. One of these systems in place is called the Canada Pension Plan (CPP).
So, how does it work? Simply put, while you are employed, a little from each paycheck is paid into the Canada Pension Plan. Then, when you retire, you can apply for CPP to begin receiving this pension. CPP benefits can be drawn as early as age 60 (reduced 0.6% for each month before 65) or as late as age 70 (increased 0.7% for each month after 65).
Depending on your retirement vision, we can help you plan to use this along with your Old Age Security, workplace pension plan and more so you can comfortably enjoy a carefree retirement. Click here to book your free consultation today.