Retirement in Canada - some things to keep in mind

[Lemonslice 4,570]

I know many Canadians have discussed that, at one point, they would like to go back to Canada and maybe even retire there. Just thought I would share. Mom of a friend is currently dealing with it and it's not a fun experience.

Immigrants face 'unreasonable' hurdles with Old Age Security - (and this does not only applies to "immigrants", but also expats who return to Canada - their requirements are, in some cases, nearly impossible to meet 20, 30 or 40 years later)

To satisfy requirements, all applicants must provide "supporting documentary evidence" to prove all the dates they entered and exited the country.

[gwenstar 66]

Wow - good to know!!! Yeah, retirement seems so far away for us but I am really glad you posted this so I can learn more and keep those things in mind

[Lemonslice 4,570]

Again, it might be "easier" when we'll retire, who knows? But, I think I'll keep my T4s and other "Canadian" papers safely a little longer.

[Kate52 5]

You need to keep all receipts during your stays in Canada -- so not just a T4 (which only shows income)

but proof showing time spent in Canada.

[NikLR 13,220]

You could always save for your own retirement vs wanting gov't assistance.

[Udella&Wiz 325]

Also this article focuses on immigrants who came to Canada at some point, we would be returning Canadian citizens, most of us born in Canada. I don't think this article applies.

[nightingalejules 678]

You could always save for your own retirement vs wanting gov't assistance.

Well, sure, and many if not most of us are. But the canadian old age pension is not assistance per se, but rather a program we as Canadians have been paying into with the expectation of getting it back. It's a pension, not welfare.

[Flames9_RN 358]

That arrticle doesn't really apply to us "normal Canadian citizens" One that grew up here! What they are looking out for is fraud as it is well known that some of these immigrants coem here and leave--yet find loopholes on how to gain Cdn citizenship! So those people that do it honestly and legally--can thank those that have not been!!

[Lemonslice 4,570]

My friend's mom was born and raised in Ontario; lived there until her early 40s, then went to work overseas following her husband. Came back to Canada in her mid-50s, worked in Canada a few more years, then retired. The article covers immigrants' cases, but I know of at least two people who where born-Canadians who got extra questioning. One was solved promptly; the other (that lady) is still trying to deal with them.

Personally, I am lucky enough that even if I got nothing, I would have a comfortable retirement (and our plans are not to retire to Canada as of now, but who knows what we'll do in the future) - I know it's not the case for everyone and I was just sharing the info. I have no personal interest is you keeping documents or not.

[Udella&Wiz 325]

Is this the same as what used to be called CPP? Isn't there a stipulation that you need to have worked/contributed for x number of periods (40 I think?) before you would be eligible to receive when you retire? I think the periods are either 3 months or 6 months or something like that?

I know I was 1 period short when I left at age 37 to move to the US (I had worked since 17). So despite contributing for 20 yrs I will never be eligible to receive.

Did I dream this up?

[Lemonslice 4,570]

Her situation is with the Old Age Security - http://www.servicecanada.gc.ca/eng/services/pensions/oas/index.shtml , which is different than the CPP you paid into (and that you can receive while living in another country - http://www.cbc.ca/news/business/taxes/canada-pension-plan-vs-old-age-security-the-differences-explained-1.1239963 ).

[NikLR 13,220]

Well, sure, and many if not most of us are. But the canadian old age pension is not assistance per se, but rather a program we as Canadians have been paying into with the expectation of getting it back. It's a pension, not welfare.

Thanks, I know the difference between a pension (which as a Canadian I've paid into) and welfare.

As OAS is not CPP btw.

OH just read that Boston~Montreal said that.