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  2. The Social Security Retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether. It may not replace all your income so it's best to identify other ways to pay for your monthly expenses as you age. Learn how to apply.

    • Overview
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    • Contributors

    Pensions and retirement

    Retirement planning, public and registered pensions, RRSPs, RRIFs, retirement income calculator and more.

    Retirement planning

    Types of retirement income, saving for retirement, how much money you will need and managing your finances.

    Public pensions

    The Canada Pension Plan (CPP), Old Age Security (OAS) pension and other income allowances and benefits.

    Savings and pension plans

    Registered savings plans for individuals (contributors) and plan administrators.

    •Financial Consumer Agency of Canada

    •Canada Revenue Agency

  3. Old Age Security (OAS) provides monthly payments to seniors who are 65 years or older, are or were Canadian citizens or legal residents, and have resided in Canada for the required number of years.

  4. You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.

    Year Of Birth 1.
    Full (normal) Retirement Age
    Months Between Age 62 And Full Retirement ...
    At Age 62 3.(a $1000 Retirement Benefit Would Be Reduced To)
    66
    48
    $750
    66 and 2 months
    50
    $741
    66 and 4 months
    52
    $733
    66 and 6 months
    54
    $725
  5. A social security agreement may help you qualify for a Canadian or foreign benefit, or both, if you lived or worked abroad and in Canada. To help you qualify for a Canadian pension or benefit: your periods of contribution under the legislation of another country may be considered as periods of contribution to the Canada Pension Plan ( CPP ).

  6. In this section, you can learn how Social Security works, who’s eligible for retirement benefits, and what to consider before applying. Read on to understand how Social Security fits into your retirement plan.

  7. KA-01891 . . Print. How do I apply for Social Security retirement benefits? Views: . You can apply for retirement benefits up to 4 months before you want to start receiving your benefits. Even if you are not ready to retire, you still should sign up for Medicare 3 months before your 65th birthday.

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