I have a 57 year old receiving roughly $10,000 of QPP survivor benefits and roughly $1,200 annually of private pension survivor benefits. Keep in mind the client will begin receiving regular reduced QPP retirement benefits sometime after age 60.
How do I enter these amounts?
I've looked briefly at the plan and have a few comments.
- You can put the $10,000 of QPP survivor benefits in non-registered or TFSA (I assume it's a one-time lump sum and has been paid). If it's coming in the future put it as an 'Other Asset' in the Financial Information page.
- You have $1,680 annual pension of $1,680 at 65, with an actuarial reduction to age 50. You may want instead put this as a 'Pension or Annuity Income from Registered Pension Plan' on the Financial Information page.
- You have QPP starting at 65 not 60. Enter the age you want the QPP to start.
- In 'Asset Mix for Projections' on the Options page, you have the asset allocation percentages for non-registered adding up to 110%. It should add up to 100%.