Posted on: 11-01-05 10:37:25
Quote:
Orginally posted by dp_jain
Yes, one can receive Old Age security Pension subject to follwing conditions (The current law).
1. He /she must be over 65 years
I am afraid that is not entirely correct. You can start getting your pension as early as 60 years of age if
1. You stop working.
OR
2. You earn less than a specified amount.
Quote:
Orginally posted by dp_jain
2. Must be a Canadian Citizen at the time of departure from Canada
Not necessarily. You can get your pension even if you are a PR but as long as you have contributed to the CPP.
Quote:
Orginally posted by dp_jain
3. Person must have lived in Canada at least 20 yrs as an adult before he/she left Canada.
There is no such stipulation. To qualify you need only be over 60 years of age and should have contributed to the CPP.
Quote:
Orginally posted by dp_jain
4. The person must file income tax return in Canada
Not entirely correct.
Quote:
"Canada has international social security agreements with many countries. These agreements can help you get pensions or benefits from another country and Canada. If you did not live or work long enough in another country to qualify under its rules, the time you spent there may be added to your time in Canada to enable you to meet eligibility requirements.
If you have lived or worked in another country, you should contact us for more information."
:Unquote
Quote:
Orginally posted by dp_jain
Mind that one has to apply to receive this pension.
That's correct!
Source : http://www.sdc.gc.ca/asp/gateway.asp?hr=en/isp/pub/factsheets/retire.shtml&hs=cpr
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Diogenes
====================
The Cynic
Quote:
Orginally posted by DiogenestheCynic
Quote:
Orginally posted by dp_jain
Yes, one can receive Old Age security Pension subject to follwing conditions (The current law).
1. He /she must be over 65 years
I am afraid that is not entirely correct. You can start getting your pension as early as 60 years of age if
1. You stop working.
OR
2. You earn less than a specified amount.
Quote:
Orginally posted by dp_jain
2. Must be a Canadian Citizen at the time of departure from Canada
Not necessarily. You can get your pension even if you are a PR but as long as you have contributed to the CPP.
Quote:
Orginally posted by dp_jain
3. Person must have lived in Canada at least 20 yrs as an adult before he/she left Canada.
There is no such stipulation. To qualify you need only be over 60 years of age and should have contributed to the CPP.
Quote:
Orginally posted by dp_jain
4. The person must file income tax return in Canada
Not entirely correct.
Quote:
"Canada has international social security agreements with many countries. These agreements can help you get pensions or benefits from another country and Canada. If you did not live or work long enough in another country to qualify under its rules, the time you spent there may be added to your time in Canada to enable you to meet eligibility requirements.
If you have lived or worked in another country, you should contact us for more information."
:Unquote
Quote:
Orginally posted by dp_jain
Mind that one has to apply to receive this pension.
That's correct!
Source : http://www.sdc.gc.ca/asp/gateway.asp?hr=en/isp/pub/factsheets/retire.shtml&hs=cpr
I believe you did not raed out my post correctly. I specifically used word" OLD AGE SECURITY PENSION" and was writing in the context of a person who left Canada permanently.
This pension is available to persons aged 65 or older. If the peson stays in Canada then he/she must stay at least 10 yrs as a landed immigrant/citizen/lega resident (exception to for some European countries). This is ataxable income hence one is required to file tax return irrespective of the fact that he/she left Canada.
The pension you are writing about is not Old Age Pension but ordinary pension which is linked with CPP deduction (how much and how long ) one contributed to CPP and can be received earlier subject to various conditions.
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416-305-0080
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Quote:
Orginally posted by dp_jain
I believe you did not raed out my post correctly. I specifically used word" OLD AGE SECURITY PENSION" and was writing in the context of a person who left Canada permanently.
You're right. I thought you were talking about CPP.
My apologies.
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Diogenes
====================
The Cynic
