CIFPs: Tax & Budget 2012 Update
CIFPs: Tax & Budget 2012 Update
CIFPs: Tax & Budget 2012 Update
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Option to Defer OAS Payments<br />
<br />
<br />
Voluntary deferral of OAS pension for up to five years<br />
Actuarially neutral<br />
Starting on July 1, 2013<br />
Example #1<br />
» Michael turns 65 in<br />
September 2013<br />
» Defers pension to age 66<br />
» Annual pension would be<br />
$6,948 vs. $6,481 (in<br />
<strong>2012</strong> dollars)<br />
Example #2<br />
» Rita turns 65 in December<br />
2013<br />
» She forgoes OAS until age 70<br />
» Annual OAS would be $8,814<br />
vs. $6,481 (in <strong>2012</strong> dollars)
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