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OAS auto-enrollment is not good for everyone

OAS auto-enrollment is not good for everyone

Since 2013, the Government of Canada has phased in a laudable process: auto-enrolling eligible seniors at age 65 for Old Age Security (OAS) payments. Instead of you having to proactively apply for OAS, the government will determine eligibility a month after you turn 64.

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When Should You Take CPP?

When Should You Take CPP?

Canadians are eligible to elect their CPP benefit as early as age 60 and as late as age 70. If you elect your pension prior to age 65, your CPP benefit is reduced by 7.2% per year for each year prior to age 65. If you defer taking CPP after age 65, your benefit is increased by 8.4% per year for each year that you wait beyond age 65.

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