Canada Pension

[i am bob]

One of the things that I find very upsetting is that, once I start collecting my Canada Pension, my Canadian Forces pension is reduced by that amount. I would be better off if I could opt out of CPP and have a return of contributions.

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[Jack Peterson]

Posted Today, 01:49 AM One of the things that I find very upsetting is that, once I start collecting my Canada Pension, my Canadian Forces pension is reduced by that amount. I would be better off if I could opt out of CPP and have a return of contributions.

Bob, I can very much understand what you are saying and it stinks

 

This is where I can say, " I am so Glad, to be British"

My Service Pension is paid as normal and My state age related pension, is also paid. Added together, it is over the Tax free threshold, so I have to pay tax on the amount over, the Tax free amount. This is done at source, via the  PAYE code number system.

 

Being a commonwealth Country, I don't really understand why, after your faithful service to your Country, you can be penalized in this way.

 

 

:tiphat:

[Papa Carl]

Wow, Bob I did not know that and it quite surprises me as well. Does that apply to your OAS as well as your CPP?

 

 

Here are some websites that will be helpful to those who were born in Canada, or contributed to their Canadian Pension Scheme, and possibly in other countries as well and want to live here permanently or part time.

 

They explain the basics, or who is available to get funds, and approx. how much and when to apply and how to apply.

 

Each case is dealt with individually and there fore each is different, so unfortunately you will need to .... fill out forms.... etc.

 

One of the interesting aspects is that Ellie is eligible for my pension when I am no longer under her feet and making life difficult for her! It will help a little with Chiya's college fund, or pay for her basics.

 

 

Hope this helps

 

http://en.wikipedia.org/wiki/Canada_Pension_Plan

http://www.hrsdc.gc.ca/eng/retirement/

http://www.hrsdc.gc.ca/eng/retirement/agreements/index.shtml

 

http://www.servicecanada.gc.ca/eng/services/pensions/oas/pension/calculate.shtml

http://www.servicecanada.gc.ca/eng/services/pensions/cpp/retirement/index.shtml

http://www.servicecanada.gc.ca/eng/services/pensions/oas/index.shtml

 

 

Here is the copy of the treaty between Canada, the UK and the Philippines

 

http://www.treaty-accord.gc.ca/text-texte.aspx?lang=eng&id=102207

http://www.treaty-accord.gc.ca/text-texte.aspx?lang=eng&id=103337

 

http://www.treaty-accord.gc.ca/text-texte.aspx?lang=eng&id=102220

http://www.treaty-accord.gc.ca/text-texte.aspx?lang=eng&id=102209

 

Who is eligible etc

 

http://www.treaty-accord.gc.ca/text-texte.aspx?lang=eng&id=102209

 

Lived or Living outside of Canada

 

http://www.servicecanada.gc.ca/eng/services/pensions/international/index.shtml

 

Some additional information about this subject including links to Forms required etc.

 

http://canadaonline.about.com/od/pensions/Canadian_Government_Pensions.htm

 

Some information about the different types of Private Pensions and how that affects your OAS and CPP

 

http://www.retirementadvisor.ca/retadv/apps/articles/pdf/Companypension.pdf

 

 

Have fun reading!!! As with all Government plans etc. there is a fair bit of gibberish, but not bad.

 

 

Papa Carl

[i am bob]

Hate to say it but, yes, any Federal pension will be clawed back from my military pension. So OAS is included.

Know what makes it even more disgusting? I am on a medical pension... Which means that the military decided that I had been medically affected through my military career to the point where I was no longer able to do my job and that they considered it not feasible to train me in a new profession of any kind for military service. In other words - "we pretty well destroyed you so you don't work here no more!" Shortly followed by the words "Screw you!"

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[Dave Hounddriver]

I'm confused, according to the OAS application it states that " the tax rate is 25% of your monhtly OAS pension unless you live in a country that has a tax treaty with Canada." As far as I've read canada does have a tax treaty with the Philippines. What am I missing here?

 

I just happened across this item.  If your Canada Pension amount is small enough (like under $500 a month) then this would mean you don't pay tax on it:

 

You are exempt from tax if the total of your pensions from Canada (except for CPP or QPP death benefits) does not exceed CAN $5,000 (or its equivalent in Philippine pesos). To get this exemption, you must file the NR5 form.

 

http://www.servicecanada.gc.ca/eng/services/pensions/international/nrtax.shtml

 

BUT what I was looking for was how to apply online.  I found out that I can apply online  :hystery:  provided I print the form they supply and mail it with my signature.  That is not really online if I have to mail it anyway.  But has anyone here applied from Philippines for their CPP?  I am still just a tourist here so should I send the signature form direct from Philippines or send it to my Canadian address and have someone resend it for me (probably slower)

 

Comments?

[jpbago]

should I send the signature form direct from Philippines

 

I would send the form from here by Fedex. Less involvement equals less errors.

 

PS: Make sure that you use a black ballpoint pen.

[sjp52]

One of the things that I find very upsetting is that, once I start collecting my Canada Pension, my Canadian Forces pension is reduced by that amount. I would be better off if I could opt out of CPP and have a return of contributions.

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That doesn't seem fair. I will be getting my Canada pension over top of my company pension and you should too.

[Dave Hounddriver]

That doesn't seem fair.

 

Its negotiated by the PSAC and all federal government employees know it going in and they don't get small pensions and they can save up 'sick days' to get an extra year off  before they retire.  All in all, pretty fair.

[sjp52]

 

That doesn't seem fair.

 

Its negotiated by the PSAC and all federal government employees know it going in and they don't get small pensions and they can save up 'sick days' to get an extra year off  before they retire.  All in all, pretty fair.

 

I get a pretty good pension with early retirement (55) and no penalty but I still get Canada pension. Seems to me the government is screwing their employees.

[jpbago]

Hate to say it but, yes, any Federal pension will be clawed back from my military pension. So OAS is included.

 

Eight years from now, you will see that your OAS will not be clawed back from your military pension, except if your total pensions are more than $75,000. There will be a clawback  when you start your CPP.