The Canadian Money Roadmap Investing Basics Part 5 - Government Pensions and Benefits
Feb 18, 2026
Clear breakdown of Canadian retirement programs like CPP, OAS and GIS and why they matter for retirement planning. How CPP contributions, benefit levels, indexing and claiming timing affect income. Rules for OAS deferral and the income-tested clawback. How TFSA withdrawals and portfolio spending interact with benefit eligibility and GIS thresholds.
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CPP Is Earned And Capped
- CPP contributions depend on earned income and stop after the YMPE (~$75k).
- Most people receive ~50% of max CPP, so plan on less than the maximum.
Consider Deferring CPP To Age 70
- Consider deferring CPP because you earn ~0.7% extra per month deferred past 65.
- Use portfolio withdrawals early and backstop later with deferred CPP to boost long-term spending power.
CPP Is Financially Separate And Healthy
- CPP is funded separately from general government revenues and has transparent actuarial reports.
- It has strong long-term sustainability compared with U.S. Social Security.