RHYS MARTELL  |  financial advisor

Retirement Income Benefits for Canadians

In Canada there are two main retirement income benefits that are spearheaded by the government: CPP and OAS. And combined, they can actually make up a decent amount of income.

CPP stands for Canada Pension Plan and it’s funded by both employees and employers and is actually, at this point in time, a really well-funded and well-managed pension plan. The amount you will receive from CPP totally depends on how much you’ve put in over the years you were working.

OAS stands for Old Age Security and this plan is funded purely by current tax dollars and has nothing to do with how much you put into it or much you work. The amount you get for OAS, is based entirely on how long you’ve lived in Canada. Simple as that.

Obviously, there are more details to discuss and I’ll cover those another time, but for now the key point to note is that most Canadians can expect to receive at least a portion of each of these benefits in retirement.


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This article is for educational purposes only and is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. Opinions expressed are those of the owners and writers only. Every effort has been made to compile this material from reliable sources, however, no warranty can be made as to its accuracy or completeness. It may also include forward looking statements concerning anticipated results, circumstances, and expectations regarding future events. Forward-looking statements require assumptions to be made and are, therefore, subject to inherent risks and uncertainties. There is significant risk that predictions and other forward looking statements will not prove to be accurate. Please consult an appropriate professional regarding your particular circumstances. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or the fund facts before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mutual Funds and Segregated Funds provided by the Fund Companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. Other Products and Services are offered through Rhys Martell/Well-Built Plans Financial.

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