Business & Finance articles

What retirees need to know if they plan to defer Old Age Security benefits until 70

What retirees need to know if they plan to defer Old Age Security benefits until 70

If you lack an employer defined benefit pension, the prospect of higher CPP and OAS benefits is not to be dismissed lightly.File Photo It’s been five years  since retirees gained the flexibility of choosing to defer receipt of Old Age Security (OAS) benefits from age 65 to as late as 70. This mirrors the option

‘A lifetime of careful planning’ means couple with medical issues still on track for solid retirement

This couple pays substantial management fees totalling 1.9 per cent, which is a lot for their level of assets.Illustration by Chloe Cushman/National Post files Situation: Husband on disability for decades and recently retired wife worry retirement income isn’t adequate Solution: Cut costs and lower investment management fees to build investment income A couple we’ll call

Everything you need to know about the enhanced CPP — from how much you’ll pay to how much you’ll get

For each year of pensionable earnings after 2024, maximum CPP payouts will be roughly 1.3 per cent more than under the previous rules.Postmedia While it comes too late for retiring Baby Boomers, the generations that follow will benefit nicely from the newly “enhanced” Canada Pension Plan (CPP). Higher premiums to fund it began this month.

What you need to know if you are considering getting a divorce in 2019

The financial consequences of a separation are far-reaching and long-lasting. Look before you leap.Postmedia News files A New Yorker cartoon famously pictures two young children admiring their Christmas tree. Presents are stacked so high, the tree is barely visible. The older child sagely says to her younger brother, “Cherish this moment, because clearly our parents