BU483 Lecture Notes - Lecture 12: Canada Pension Plan, Old Age Security, Life Annuity

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There are two choices that one could use a defined. Life income fund (lif) is that you could never outlive your income stream. Pension options for life annuity"s: straight life annuity (single life pension, ,500 per month. If you have a guarantee of 10yrs (10-year guarantee) in which the life. Insurance company will continue to pay the annuity for 10yrs to the beneficiary after your death. This is a total of 120 payments after death (12 months in a year * 10-year guarantee: therefore, his family would receive 2,400/month. It is an indexed pension indexed to the consumer price index: the maximum amount available is /per month, the oas is taxable, you are qualified for the maximum amount of oas if you"ve been in. Canada from for 40 years between the ages of 18-65. If an individual were born in canada, then that individual will automatically get the maximum amount of oas pension.

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