Sunday, September 2, 2012

Government Pensions

7:53 PM



Question:

Your calculations for the amount of Canada Pension and Old Age Security which I will receive increase dramatically over the years.

What is the basis for these annual increases? Is there any provision made for Claw-Back of Old Age Security Payments in years when total income is above the limit?

Answer:

CPP and OAS increase annually by the rate of inflation you selected, unless you left the default value, which is 2.5%.

Clawback is applied in the calculations and is reflected in the income tax column of the results.

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