Nanaimo, pensions, retirement, benefits, Vancouver Island, BC

Pension Maximization

"There are no shortcuts to a place worth going."
Author Unknown

Pension Option Analysis to Maximize your Pension

Choosing your Pension Option is a “one time” decision. It is crucial to fully understand the options available to you.

By having your pension options analyzed, you can enhance your retirement years, making a difference in the length of time you could enjoy a higher income.

Call us today for a free consultation! (250) 390-1995 1-800-668-7558

For your convenience we have added the 2009 Canada Pension Plan and Old Age Security Program reference tables below.

Maximum Income Security Benefits Effective January 1, 2011
CANADIAN PENSION PLAN (JANUARY TO DECEMBER 2011)
Retirement Pension (at age 65)	$960.00
Disability Pension	$1,153.37
Death Benefit (maximum lump sum)	$2,500.00
Survivor's Pension (under age 65)	$529.09
Survivor's Pension (age 65 and over)	$576.00
Children of Deceased or Disabled Contributor	$218.50
Combined Pensions
Survivor/Retirement (retired at age 65)	$960.00
Survivor/Disability	$1,153.37
Yearly Maximum Pensionable Earnings (YMPE) for year 2011	$48,300.00
OLD AGE SECURITY PROGRAM (JANUARY TO MARCH 2011)
Basic Old Age Security pension	$524.23
Guaranteed Income Supplement (GIS)
Single	$661.69
Spouse of non-pensioner (does not receive OAS))	$661.69
Spouse of pensioner (receives an OAS pension)	$436.95
Spouse of Allowance recipient	$436.95
Spouse's Allowance (SPA)
Regular	$961.18
Widowed	$1,065.45
OAS 15% clawback commences with an income above $67,668.00. The full OAS pension is eliminated when a pensioner's net income is $109,607.00 or above. The Spouse's Allowance stops being paid at $29,376.00, while the GIS stops being paid at $38,112.00. Further information can be found on the Service Canada website at the attached link: http://www.servicecanada.gc.ca/eng/isp/statistics/rates/pdf/janmar11.pdf