Management and Organizational Studies 2277A/B Chapter Notes - Chapter 14: Money Market Fund, Autopilot, Canada Pension Plan

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2277A/B
• Professor: Barry Hawn

Document Summary

Oas = federal program funded by income tax and other tax revenues, make payments upon your retirement. Together can be thought of as the foundation of retirement planning. Ho(cid:449)e(cid:448)e(cid:396), o(cid:374) thei(cid:396) o(cid:449)(cid:374), do(cid:374)"t p(cid:396)o(cid:448)ide suffi(cid:272)ie(cid:374)t i(cid:374)(cid:272)o(cid:373)e to suppo(cid:396)t lifest(cid:455)les of (cid:373)ost. First level of canadas public retirement income system consist of a group of benefits that are funded by general tax revenues and are not based on personal contributions is an important distinction to make. Do(cid:374)"t ha(cid:448)e to (cid:272)o(cid:374)t(cid:396)i(cid:271)ute to p(cid:396)og(cid:396)a(cid:373), o(cid:374)l(cid:455) (cid:395)ualif(cid:455)i(cid:374)g (cid:272)(cid:396)ite(cid:396)ia a(cid:396)e age a(cid:374)d (cid:396)eside(cid:374)(cid:272)(cid:455) Must be 65 but starting april 2023 age will rise from 65 to 67. May defer pension for up to 60 months or 5 years. In this case payment would increase by 0. 6 percent for every month you defer up to a max of 36 percent at age 70. If you have lived in canada for at least 40 years since turning 18, will receive full pension.