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age 60 if you can qualify as having substantially stopped working -- we had a guy at my work stop working for a month or so, and then once he qualified for his early CPP he just started working again

http://www.caatpension.on.ca/Atrium/Planet/March_2006/Mar_2006.html

Myth: I have to wait until I turn 65 to apply for my government benefits.

The CPP offers an early retirement benefit that you can collect as early as age 60. You qualify for the early CPP benefit if you are between the ages of 60 and 64 and have "substantially stopped working", which means your earnings must be below a prescribed amount during the qualification period.

Taking your early CPP pension means your pension will be reduced by .5% for each month you are away from your 65 th birthday – if you begin your pension at age 60, it will be reduced by 30% (.5% x 12 x 5 = 30%.) It's important to note that the reduction is permanent and your benefit will not increase when you turn 65, however starting your pension early means you will likely collect it for a longer period of time, which means you could end up with a similar overall benefit.

Your OAS pension, on the other hand, can only begin once you turn 65, however, as indicated above, you should consider applying for it in advance of your 65 th birthday.
Myth: I can't collect a CPP pension and work at the same time.

To be entitled to an early CPP pension, you must be between 60 and 64 years old and have "substantially stopped working" in the month prior to and the month during which your payments begin. Your employment earnings must fall below the maximum monthly CPP retirement pension (approximately $845 this year). Once you have met these criteria and your CPP pension begins, there are no further limits imposed on your employment earnings � you can collect your salary and your CPP pension at the same time. The only difference is that you will no longer make contributions to the CPP on your employment earnings.

2006-11-03 14:53:36 · answer #1 · answered by Zee 6 · 0 0

No, you receives an same volume. that is in accordance on your nationwide coverage contributions. Why might want to you get something you haven't contributed to? maximum pensioners who get the completed uk pension stay on the poverty line besides. it really is why maximum everyone is now contributing to place of work or inner most pensions for his or her old age. do not you get a pension in Canada? Did you make a contribution to at least one there? can't that be paid to you contained in the united kingdom.

2016-12-05 11:12:18 · answer #2 · answered by ? 4 · 0 0

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