Nuiloa
Recycles dryer sheets
- Joined
- May 12, 2011
- Messages
- 496
I think I'd double check on that one. I don't know about Canada, but in the US we have a similar rule that working part-time may mean a delay in part of your SS (Social Security) income, but many people erroneously believe that you lose it, when in fact they simply recalculate future amounts to incorporate these earnings...so you would actually benefit from this later on in life. Of course in your case, since you mentiond dying at 67, this may not come into play....but I certainly hope you are wrong. )"
It's quite a bit different in Canada. You can't collect Canada Pension if you are still employed. New rules state that if you return to work, you have to go back to paying into the pension fund. The second gvt. pension, called OAS, is for people 65 and older. It gets clawed back, on a sliding scale, if a person's income is over $66K and disappears completely if the income is over $102K. There's also a Guaranteed Income Supplement for people who have very low income - I would not qualify for that one.