Retirement
12 articles in Retirement. Each verified against an official source and linked to a calculator.
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What Changed in OAS for 2026
OAS Q1 2026 max: $742.31 (65-74), $816.54 (75+). 2026 income-year clawback threshold $95,323. Full clawback ceiling $154,753 (65-74), $160,696 (75+) estimated.
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What Changed in CPP for 2026
Three meaningful CPP changes for 2026: YMPE $71,300 to $74,600, YAMPE $81,200 to $85,000, max monthly at 65 $1,433.00 to $1,507.65. Contribution rates unchanged.
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CPP vs OAS: Differences, Eligibility, and Timing
CPP is contribution-based; OAS is residency-based. CPP can start age 60, OAS only at 65. OAS is income-tested (clawback at $95,323 for 2026); CPP is not. Both can be deferred to 70 for permanent bonus.
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CPP Disability vs CPP Retirement: Differences and Conversion
CPP Disability max 2026 is $1,741.20/month (more than CPP retirement at any age). Includes $610.46 flat rate + earnings portion. Auto-converts to CPP retirement at 65, typically at higher amount.
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CPP Enhancement Explained: CPP1 and CPP2 Phase-In
CPP enhancement adds CPP1 (1% on YBE-YMPE) and CPP2 (4% on YMPE-YAMPE) on top of base CPP. Phased in 2019-2024. Full benefit boost takes 40 years; 2026 retirees see modest improvement.
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OAS Deferral Bonus: Delaying OAS Past 65
OAS deferral bonus is 0.6%/month past 65, up to 36% at age 70. Breakeven age is ~84. Deferring is most valuable for healthy retirees with other income or those facing OAS clawback at 65-69.
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GIS Eligibility and Income Cutoffs (2026)
Q1 2026 GIS max is $1,108.74/month single, $667.41 if spouse on OAS. Income cutoff is $22,488 for singles. GIS reduces ~$0.50 per dollar of non-OAS income. TFSA withdrawals don't count.
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CPP Start-Age Decision: 60 vs 65 vs 70
CPP can start age 60-70. Early reduces by 0.6%/month, late adds 0.7%/month. Breakeven 60 vs 65 is age 73-74; 65 vs 70 is age 81-82. Most healthy 65-year-olds benefit from delaying.
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RRSP to RRIF Conversion: Rules, Timing, and Minimum Withdrawals
RRSPs must convert to a RRIF, annuity, or be cashed out by Dec 31 of the year you turn 71. RRIF requires minimum withdrawals starting the next year, calculated as 1/(90-age) up to age 71, then by regulation.
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CPP Survivor Benefit Eligibility and Amount (2026)
Maximum 2026 CPP survivor pension is $904.59/month at 65+ or $803.54/month under 65. Apply via Form ISP-1300. Combined CPP cap of $1,507.65/month applies.
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Maximum CPP Retirement Benefit in 2026
Maximum CPP retirement pension at age 65 in 2026 is $1,507.65/month. Average new benefit is closer to $900/month. YMPE is $74,600.
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OAS Clawback Threshold and Recovery Tax (2026)
The 2026 OAS clawback threshold is $95,323. The recovery tax is 15% of net world income above the threshold, capped at the OAS amount otherwise received.