Tag: Canadian Pension Plan
An In-Depth Look At Your Canadian Pension Plan (Ep. 53)

An In-Depth Look At Your Canadian Pension Plan (Ep. 53)

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One of the biggest cornerstones to retirement income planning is knowing the Canada Pension Plan (CPP) and what your duties are associated with it. When planning for retirement, many people want to make sure they are setting themselves up for total security in their retirement. 

When it comes to retirement, its common to have questions like how much will you receive as your pension based on your contribution, the process of how much money from your current job is going into your retirement, and many more.

In this episode, Kris Dureau talks about the things you may not know about your retirement, helping you better understand what to look forward to once you decide to take out your pension. 

Kris discusses:

  • The reality of monthly payments once you start taking pension in your retirement
  • The meaning of Yearly Maximum Pensionable Earnings (YMPE) 
  • Your monthly CPP payment estimates and how to find that information
  • Contributing to your CPP while being self-employed
  • Factors that will affect your retirement
  • And more!

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32. When Should You Take Your CPP Payment? With Gary Armstrong, CPA, CGA

32. When Should You Take Your CPP Payment? With Gary Armstrong, CPA, CGA

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“When should I start taking my Canadian Pension Plan (CPP) payment?”

This is one of the most common questions Kris Dureau’s clients ask him as they start navigating the path of retirement income withdrawal.

This week, Kris tackles this question to provide you with some clarity. 

He sits down with chartered professional accountant Gary Armstrong of Green Private Wealth Counsel – Harbourfront Wealth Management to explore the world of CPP and to give listeners a better understanding of how and when to approach their CPP payments.

Gary discusses:

  • The right time to approach CPP-related cash
  • CPP tax consequences
  • Which age demographics should consider taking their CPP 
  • Mistakes people make when withdrawing their CPP early
  • And more!

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About our Guest:

Gary Armstrong is a Chartered Professional Accountant and Certified General Accountant (CPA, CGA) with a specialization in taxation through the In-Depth Tax Course offered by CPA Canada.  Before joining Green Private Wealth Counsel, Gary worked for almost ten years at a local accounting firm that focused on personal and corporate tax services for individuals and businesses of all sizes. Before that, Gary worked in 2 different large international accounting firms providing general accounting and US personal tax services.

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