Should you delay your OAS pension?

Last summer, Old Age Security (OAS) benefits permanently increased for the first time in almost 50 years. The payment increase is 10% and applies to seniors aged 75 and older. This increase gets a further boost when seniors delay starting their OAS benefits. Monthly payments increase by 0.6% for each month you delay payments beyond […]

Managing your RRIF withdrawals effectively

Each year, you’re required to make a minimum Registered Retirement Income Fund (RRIF) withdrawal, calculated as a percentage of your RRIF assets. The percentage is based on your age, and it increases each year. Every withdrawal is taxed as regular income, but several strategies can help reduce the impact of the tax liability. Use your […]

What to do when Retirement approaches

When retirement arrives, you want to enjoy this new chapter in your life – not start off with a multitude of financial decisions and to-dos. You can have comfort instead of chores by taking care of a few financial matters as retirement is approaching. Assess insurance needs When your working years end and you no […]