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In this video, we go through the process of how to actually get a hold of your CPP & OAS payments. We'll go through when you can apply, how you can apply, and also some certain intricacies that relate to both CPP and OAS.
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0:00 - What This Video Covers
0:30 - Investing Academy / FFS
1:19 - Qualifications for CPP / OAS
2:05 - When To Apply For CPP
3:23 - OAS Package At 65
4:31 - My Service Canada
5:07 - Decreasing/Increasing Payments For CPP
5:41 - How To Apply
6:33 - Personal Information Needed To Apply
7:21 - Social Security Agreements
8:08 - Retroactive OAS Payments
8:43 - Cancelling OAS Payments
9:22 - Cancelling CPP Payements
10:11 - Quick Recap
This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.
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A Complete Guide To The CPP & OAS Application Process As we age and approach retirement, it is essential to understand the various benefits and programs available to help support us financially. Two of the most significant programs in Canada are the Canada Pension Plan (CPP) and the Old Age Security (OAS) program. This article aims to provide a comprehensive guide to the CPP and OAS application process, ensuring a smooth and hassle-free experience. 1. Understanding CPP and OAS: Before delving into the application process, it is crucial to understand what CPP and OAS entail. - Canada Pension Plan (CPP): The CPP is a contributory plan that provides a monthly payment to individuals who have contributed to the plan during their working years. It is designed to replace a portion of a person's income when they retire or become disabled. - Old Age Security (OAS): The OAS program provides a monthly pension to individuals who are 65 years or older and have lived in Canada for at least ten years. It is a non-contributory program funded by the Canadian government. 2. Determining Eligibility: To determine if you are eligible for CPP and OAS benefits, consider the following criteria: - Canada Pension Plan (CPP): You are eligible for CPP benefits if you have contributed to the plan for a minimum of one year (based on your employment history). The standard age to begin receiving CPP benefits is 65, but you can choose to receive reduced benefits as early as age 60 or delayed benefits as late as age 70. - Old Age Security (OAS): To be eligible for OAS benefits, you must be at least 65 years old and have lived in Canada for at least ten years after turning 18. There is an option for early OAS benefits, which can begin as early as age 60, with a reduction in the monthly payment. 3. Gathering Required Documents: To complete the CPP and OAS application process, you will need the following documents: - Social Insurance Number (SIN) - Birth Certificate or Proof of Citizenship/Residency - Tax Returns and Notices of Assessment - Marriage/Divorce Certificates (if applicable) - Banking Information for Direct Deposit Ensure you gather these documents before starting the application process to speed up the procedure. 4. Initiating the Application: There are multiple ways to initiate the CPP and OAS application process: - Online: The most convenient way is to apply online through the Service Canada website. This option provides step-by-step guidance and reduces processing time. - Phone: Call the CPP and OAS toll-free numbers to request an application package. Contact Service Canada at 1-800-277-9914 for CPP and 1-800-277-9915 for OAS. 5. Completing the Application: Regardless of the application method chosen, make sure to provide accurate and thorough information in your CPP and OAS application. Include all relevant details about your employment history, marital status, and residency. 6. Submitting the Application: Once you have completed the application, submit it according to the instructions provided. This may involve mailing the application or uploading the required documents online. Ensure you double-check all documents and include any additional forms or information as requested. 7. Following up: After submitting your CPP and OAS application, it is essential to keep track of its progress. You can check the status of your application online or contact Service Canada for updates. 8. Receiving Benefits: Once your application is approved, you will begin receiving your CPP and OAS benefits through direct deposit to your nominated bank account. The monthly payment schedules may differ, so familiarize yourself with these dates to adequately plan your finances. In conclusion, applying for CPP and OAS benefits is a crucial step towards securing financial stability during your retirement years. By understanding the eligibility criteria, gathering the required documents, and completing the application accurately, you can ensure a smooth and hassle-free process. Do not hesitate to seek guidance or assistance from Service Canada if needed. https://inflationprotection.org/the-ultimate-guide-for-completing-the-cpp-oas-application-process/?feed_id=135703&_unique_id=6501e7f7bb2db #Inflation #Retirement #GoldIRA #Wealth #Investing #cpp #cppapplicationprocess #cppat60 #cppat60vs65 #cppat65 #cppat70 #FinancialPlanning #investing #OAS #oasat65 #oasat70 #oasvscpp #ParallelWealth #Retirement #retirementplanning #RRSP #TaxPlanning #TFSA #wealth #whentotakecpp #whentotakeoas #QualifiedRetirementPlan #cpp #cppapplicationprocess #cppat60 #cppat60vs65 #cppat65 #cppat70 #FinancialPlanning #investing #OAS #oasat65 #oasat70 #oasvscpp #ParallelWealth #Retirement #retirementplanning #RRSP #TaxPlanning #TFSA #wealth #whentotakecpp #whentotakeoas
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