Critical Retirement Dates | Time Line For Retirees

[@wilmabrazeau3332]

My husband and myself both got a letter from service Canada the month after we turned 64 telling us exactly how to apply for CPP & OAS. It was very simple. We had no problems. TFS🍁🇨🇦

[@ThisIsOurRetirement]

That is awesome! hope you have a great weekend Cheers 🍷🇨🇦🍺🍁

[@helencoker5389]

I’m newly retired (54, teacher) and I love that you post Canadian information. There aren’t many Cndn vloggers and it’s nice to see local things. Cheers from the Dairy Capital🐄 of Canada!

[@ThisIsOurRetirement]

Thanks so much we appreciate your kind comment, enjoy your retirement we are sure it is well earned.

[@hurst-cs2jh]

Hi Helen, how are you doing?

[@bobpenzien7962]

I'll bet many of your viewers are citizens of the United States. It would be nice if you could do a Critical Retirement Dates video for us Americans too.

[@ThisIsOurRetirement]

Thanks for watching and the suggestion have a great weekend Cheers 🍷🇺🇸🍺🇨🇦🙂

[@debbielockhart7762]

There are multitudes more financial advice youtubers that are US centric than there are Canadian ones. Why ask Canadians? There's great info out there for you already.

[@neilrankin9945]

Thanks for the timely video. I didn’t know you need to apply for OAS 11 months in advance. Note: the latest you can delay CPP is 70 not 71. 71 is age you must convert your RRSP to a RIF.

[@ThisIsOurRetirement]

Thanks for watching as we said we aren’t financial experts LOL 😂 all good though glad you learned something have a great weekend , you don’t have to apply 11months in advance for OAS but it’s helpful we have already done that for Tina Cheers 🍷🍺🍁🙂

[@ddavidson5]

Along with CPP you can also delay taking OAS to age 70 too for a higher monthly benefit.

[@ThisIsOurRetirement]

@@ddavidson5 That’s true thanks for sharing , we were just about to reply to your other comment but it has disappeared 🤔we are not sure what happens sometimes comments just vanish ! .Hope you have a great weekend Cheers 🍷🇨🇦🍺🙂

[@ddavidson5]

@@ThisIsOurRetirement Having tried several times to repost it I've no idea why it keeps getting delete after a minute or so. I tried shortening it and changing the wording but to no effect. It's a mystery.

[@ThisIsOurRetirement]

@@ddavidson5 👻🍷

[@RJones-Indy]

Great video and very informative. One of the highlights of our week is watching the new "This is Our Retirement" video! We hope to bump into you in Portugal at some point! Beer is on me Norm!

[@ThisIsOurRetirement]

That’s great that you like watching our videos , and who knows one day Beer 🍺 on you sounds great Cheers 🍷🇵🇹🍺🇨🇦

[@James-ye7rp]

Regarding OAS, I believe that is is automatically given out at age 65, but if you want to wait to take it, you must send the government a form letting them know that you want to hold off that payment. See your financial planner.

[@ThisIsOurRetirement]

The government sends you a letter outlining your entitlement to OAS, this is where you can request a deferral.

[@James-ye7rp]

@@ThisIsOurRetirement Thanks. Love your videos.

[@Winterbiker333]

Thanks, who knew you need to apply so early! Good advice as always

[@ThisIsOurRetirement]

Glad it was helpful! have a great weekend Cheers 🍷🇨🇦🍺

[@jenniferlee7167]

Good information for Canadians. Have a wonderful weekend.

[@ThisIsOurRetirement]

Thanks, you too! Cheers 🍷🇨🇦🍺

[@robgilbert3395]

Easily the best resource for Canadian retirees on the web. Thank you very much.

[@ThisIsOurRetirement]

Thank you so we much

[@ATJHTRAVELS]

Great tips sledgehammered that like button stay safe awesome and blessed enjoyed and shared

[@ThisIsOurRetirement]

Thanks for the visit hope you all have a great weekend Cheers 🍷🇺🇸🍺🇨🇦🙂

[@nomadkaylin5307]

Health, drug and dental plan could easily go $500+/month at the age of 65, good to know, glad to be a Canadian! thanks for sharing!

[@ThisIsOurRetirement]

You are very welcome, yes we are fortunate in what we get in Canada 🇨🇦 glad we live here Cheers 🍷🇨🇦🍺

[@alkubbo1291]

Wifey and I had our Pfizer booster shots (being old does not allow you any flexibility about vaccination). We will be traveling down to Panama and taking our Panamanian Consulate-certified documentation to see if we get a residency permit under their 'pensioner visa' program while we are there. Note that we are not selling our home and moving yet but it is always nice to have an alternative just in case. After that, who knows maybe Portugal...

[@ThisIsOurRetirement]

Sounds very interesting we wish you well , great that you got your booster shots 💉have a great week Cheers 🍷 🇵🇦 🍺🇵🇹🍁🇨🇦

[@ScubaSteveCanada]

Back in 1995 I left the country to work in another country. Revenue Canada knew exactly what dates I left and re-entered Canada. Even back then CBA passed this information on to other government ministries. I was going to mention the OHIP exemptions but you two covered it!! Good video ... again. Cheers, Steve

[@ThisIsOurRetirement]

Thanks Steve it seems big brother has been around for sometime thanks for watching. lol

[@cyndydealmeida4085]

Thank you so much for your helpful chats. Even though I have been retired now for 20 years and through lots of research I am on track with everything, it has been so gratifying to see that you are advising folks with all this info, especially the government stuff. I also love Portugal as my husband was Portuguese and up until his death we visited there every single year. I am originally from England, however, and the one problem I had to collect my English Pension is that because I only worked for 9 years in London, I only qualify for a $46.00 pensiion per year. Good wishes to you both, and please keep up the good work.

[@ThisIsOurRetirement]

Thanks for watching Cyndy we love visiting Portugal 🇵🇹 too have a wonderful week Cheers 🍷🌺🙂

[@maryrosed8475]

We luckily got away to Lanzarote for 3 weeks in glorious sunshine! As the years are passing we grabbed the chance. Canada gives great benefits to older people. We are not that great in Ireland if you have any savings!

[@ThisIsOurRetirement]

We are lucky to be in Canada, Lanzarote is wonderful great that you got away, thanks for watching and have great weekend.

[@ChrisR_72]

Hello Norm and Tina! Thanks so much for sharing this great information! I feel like there is alot to look forward to at 65. Better care when your 65 that's provided by the GOV than prior to 65! It's nice to know about the dental and prescription coverage that goes a long way! Cheers to both of you have a wonderful rest of your weekend!

[@ThisIsOurRetirement]

Hi Chris you know being retired in Ontario is great we are very well looked after as retirees , the one thing that everyone should realize is life can be cut short by lots of reasons , so if you can take early retirement and live life to the full . Thanks for dropping by hope you are having a great weekend Cheers 🍷🇨🇦🍺

[@bluewaveshows4u]

Great insights as always guys! Wishing you a good weekend!✌️😊

[@ThisIsOurRetirement]

Thank you , we hope you have an awesome weekend too Cheers 🍷🇨🇦🍺

[@gabriellarosa5015]

Great info as always! Mu husband turned 65 in February and we were planning to stay out of the country for 7 months ( the Province allows to) now that we have watched your video we will need to make few changes. Thanks!

[@ThisIsOurRetirement]

We are glad you found the video useful, sounds like you have a great plan!

[@gabriellarosa5015]

@@ThisIsOurRetirement, yes we do! When are you guys heading out of the country ? We are heading to Florida in a few weeks, finally!!

[@ThisIsOurRetirement]

Not for the foreseeable future, have fun in Florida

[@PaulaJoW]

You have both spurred me on to seriously educate myself re money matters. It's a lot to keep on top of!

[@ThisIsOurRetirement]

That’s great thanks for watching hope you have a great weekend Cheers 🍷🇨🇦🍺🍁

[@ddavidson5]

As you are approaching 65 you should check with your provincial health plan to see what is covered and what is not. While many or even most are covered "automatically" as you said, there may be something that you are taking now that either requires an application to have covered or it may not be covered at all. I know in Ontario you can check the ODB coverage on-line. I checked ahead and we did have to make an EAP application for coverage of one and a have an LU code added to another.

[@ThisIsOurRetirement]

Great information thank you, luckily we don’t need medication at the moment.

[@ddavidson5]

@@ThisIsOurRetirementyou are fortunate that way. When I retired at 62 I wasn't taking anything either but as the years have gone on I found that changed.

[@ThisIsOurRetirement]

We suppose that is inevitable due to aging

[@tmurrayis]

All good info. I will have to do some investigation on how BC's health plan deals with these issues. The dental is most interesting; I thought we would be on our own with these expenses but perhaps not.... Good job you two, keep it up!

[@ThisIsOurRetirement]

Thanks Ted, we feel it is good to share ideas and concepts, hope B.C. has good things to offer you.

[@RetiredLovingIt]

You guys always share great information!

[@ThisIsOurRetirement]

Thanks for watching glad you enjoyed it have a great weekend Cheers 🍷🇺🇸🍺🇨🇦

[@liseohplease]

Great info as usual!

[@ThisIsOurRetirement]

Glad it was helpful! have a wonderful weekend Cheers 🍷🙂🌺

[@elterrifico9522]

Some good tips, Nooooohm! I think I need a good northern woman to help me get the maximum benefits. I’ll start my search in Salford. What could possibly go wrong

[@ThisIsOurRetirement]

Perhaps you could visit the set of Coronation Street in Salford Quays to see if there are any eligible ladies LOL 😂😂Cheers 🍷🇬🇧🍺🇨🇦

[@ellymunslow436]

Thank you Norm and Tina 👌🇨🇦

[@ThisIsOurRetirement]

Glad you enjoyed it have a great weekend Cheers 🍷🇨🇦🍺

[@ItsAboutTimeNow]

This is vital information.... always need to know what you qualify for. ~ Brad and Diana

[@ThisIsOurRetirement]

Thanks guys! Have a great weekend.

[@poges]

You can apply for cpp at age 60 which I did. I need the money earlier and see that my mom who is in her 80s needs less money at her age as she's not traveling now.

[@ThisIsOurRetirement]

We have found that even in our early 60’s we are spending less when we do not travel. We took our CPP at 60, who knows what the future holds. Thanks for watching.

[@richardackley1823]

Love your videos. You’re both so funny and entertaining. [Seattle Washington]

[@ThisIsOurRetirement]

Thanks so much we appreciate your support hope you have an awesome weekend Cheers 🍷🇺🇸🇨🇦🍺

[@Jocantral]

Great information as usual. I was happy to hear about the Dental care available for those who receive GIS. Fortunatley, we do not have to rely on GIS, but dental care is such a needed inclusion to our current health care plans. Having said that, we surely are pretty fortunate to have such good health care in Ontario. Cheers...

[@ThisIsOurRetirement]

Thanks for watching it’s funny you can qualify for GIS but not the dental 🦷 program, we agree we have awesome healthcare in Ontario have a great weekend Cheers 🍷🇨🇦🍺

[@krazytrainguy]

Very informative thanks - I've already noted reminders so that I am prepared to apply for my CPP and OAS.

[@ThisIsOurRetirement]

Excellent! hope you are well and having a wonderful weekend thanks fo4 dropping by Cheers 🍷🇨🇦🍺

[@carolmichael1813]

Hi Tina and Norm. This info must be so helpful for citizens over there , I wish we could have a vlog like that here. Sometimes you have no idea that you have missed out on some benefit or another. Our numbers here are so high now that its a worrying time so its lovely to see you and I wish you great weekend. Look forward to seeing you next Saturday. Take good care 💖 🏴󠁧󠁢󠁳󠁣󠁴󠁿🍷🍺🍁🍂

[@ThisIsOurRetirement]

Hi Carol lovely to hear from you , we have heard things are looking rough with you hope things improve soon . Hang in there things will get better soon 🌺 we are looking for our booster shots 💉coming soon in the meantime stay safe and well and enjoy your weekend Cheers 🍷🏴󠁧󠁢󠁳󠁣󠁴󠁿🍺🇨🇦🤗

[@ftkinsella]

Hey Tina and Norm, great video. Cheers!!!

[@ThisIsOurRetirement]

Thanks so much for watching

[@kellihammond4956]

I love yall. Such a great pair

[@ThisIsOurRetirement]

Thanks Kelli we appreciate your support glad you enjoy our videos Cheers 🍷🌺🙂

[@maryjoan4128]

Thanks so much...it wld be interesting to compare with other provinces

[@ThisIsOurRetirement]

Yes it would we can only speak from our experience in Ontario but hopefully they are all similar Cheers 🍷🇨🇦🍺

[@daniellapierre9798]

Thank you so much for all the great information you guys provide! Love your channel,,,,!

[@ThisIsOurRetirement]

Our pleasure! thanks for watching have a wonderful weekend Cheers 🍷🇨🇦🍺

[@loufernandez9126]

Love watching your videos Norm and Tina. I can’t wait for our retirement. One or 2 more years to go. You gave us lots of tips on retirement. Thank you

[@ThisIsOurRetirement]

That is awesome! we wish you all the best and we can just say if you have the chance take early retirement as soon as you can with Covid etc life has changed grasp it and enjoy Cheers 🍷🇨🇦🍺

[@helenkruger1947]

Hello Tina and Norm. Happy New Year!!! Thank you very much for the all retirement benefits information.(+ dental) , that my mom can use it too.

[@ThisIsOurRetirement]

You are so welcome! have a wonderful New Year Cheers 🥳🥂🙂

[@mairinbrennan8711]

Great information. Thanks!

[@ThisIsOurRetirement]

Your welcome have a great weekend Cheers 🍷🇨🇦🍺🍁

[@CowboyJojosAdventures]

Great Vlog Tina and Norm. There are many similar Government grants here that senior citizens can tap into, but there are stipulations. If your dual income exceeds, then there are no bonuses and you are discriminated from getting anything. Fancy that, especially when you have paid all your taxes throughout your working life and you get zero support! Hope you are both well. Have a great day. 👍🏽🙏🏽🤗🍻❤️

[@ThisIsOurRetirement]

Hi Peter and JoJo we are fortunate that in Canada we aren’t means tested for wealth , so you can savings , property etc all the grants you get come from declared income on your tax return . Thanks for joining us have a wonderful week Cheers 🍷🇦🇺🇨🇦🍺🍁🤗

[@CowboyJojosAdventures]

@@ThisIsOurRetirement Lucky Canadians. If one is dependent on the Australian Pension, it is very restrictive and yes you can survive, but your choices are limited.

[@ThisIsOurRetirement]

As they say life is good in Canada 🇨🇦 Cheers 🇦🇺☕️ 🇨🇦

[@poges]

Re OAS be careful that you don't increase your income as a couple or you can lose your benefit for a year. I messed up on that one.

[@ThisIsOurRetirement]

Yes there is a claw back, we are low income

[@qq2441]

Excellent information!! Thanks for sharing guys....good to know about free dental now available for GIS recipients...that's a great benefit. Looking forward to more excellent content...take care and have a great weekend! 🇨🇦❤🍷🍸

[@ThisIsOurRetirement]

Thanks for watching and have a good weekend too 🇨🇦👍🍻

[@edubermudez]

Nice job my dears friends😁👍

[@ThisIsOurRetirement]

Thank you 🤗 edu

[@neilisaak3035]

I do not understand how you can get GiS - If you retire at 60 or a little earlier. You have paid into CPP ( receive about 1000.00 a month , also you get old age pension ( about 600.00 dollars a month ) also if you have RSP's you have to withdraw a certain amount ( dictated by the Gov. ) , and company pension ,so your income is very quickly over the 20.000 . Also people have stocks and the dividends are paid monthly ( also income) . .

[@ThisIsOurRetirement]

We have only worked in Canada for 29 years so do not get full pensions a little less than half. RRSP don’t have to be taken until 71 years. TFSA are total tax free for dividends, it can be done.

[@pl3666]

Great video, as always. I was asking myself what's the hardest part of being a You Tuber. My guess is trying to decide on a topic for the next video.

[@ThisIsOurRetirement]

There are many hard parts of being a KZbinr but we are lucky there are two us coming up with ideas. We think for KZbinrs consistency of uploading is difficult. For us KZbin has been so good for us during the last 18 months of the pandemic. Thank you so much for watching.

[@allsortsMichele]

Such useful info ❤️ thank-you!

[@ThisIsOurRetirement]

Glad it was helpful!

[@ddavidson5]

Interestingly I received a letter about 6 months before I turned 65 saying my OAS would start at age 65 without me doing anything. I decided to defer my OAS until age 70 and I had to go into a Service Canada location to sign some papers saying I did not want to start OAS at 65 (I am one of the very few I guess). Perhaps I got the automatic OAS start as I've lived and worked in Canada all my life. My wife, that immigrated from England when she was 21, received a letter telling her she needed to apply for her OAS. Still, don't assume that OAS will start automatically for you unless you receive a letter in the mail telling you that it will like I did.

[@ThisIsOurRetirement]

Yes we got the letter too only we had to prove our citizenship and marriage, but it started on time, lucky we had at least 20 years residency after age 18 to qualify for OAS. Thanks for your comment.

[@ianscott4894]

Enjoying your videos! Wondering what your advise is regarding health insurance in retirement? I am talking about prescriptions, dental, etc., which aren't covered by OHIP. I am still working and presently have group insurance.

[@ThisIsOurRetirement]

When you reach 65 OHIP covers your prescriptions you just pay the first $100 per year, they also allow one eye test per year. So dental is the only uninsured cost and we pay as we go.

[@amindevjee7893]

Please could I ask you to talk about " Extended health care expense" for retires. Any suggestions. Thanks . You guys are awesome sharing your retirement experience. I salute you both.

[@ThisIsOurRetirement]

Thanks for watching we are very lucky with such wonderful healthcare we only need to address dental 🦷 care , if you qualify for free dental that’s great if not we self finance from savings . As they say life is good enjoy your weekend Cheers 🍷🇨🇦🍺

[@21lori]

I'm glad that as an American citizen, I can collect my social security while living in another country.

[@ThisIsOurRetirement]

That’s great! We can too Canadians and British also. Happy retirement.

[@IamaDutch-Kiwi]

I love how you share you experiences and knowledge. I hope you recovered enough to enjoy a 🍷! Seriously, I'm so amazed, especially in this time of Covid where (some) people are screaming about losing their freedom because of the vaccination protocols etc. when Big Brother has been watching us for years. It pays to be honest, well informed and take note of all that is relevant to your situation. Great weekly videos. I get (largest) part of my Govt pension from New Zealand topped up by the Dutch Govt where I reside for the years worked here. It pays to enquire well before time how things are regulated well before your due retirement date so payments smoothly get paid into your account without a long wait while the Govt wheels grind at their own speed. Happy retirement everyone.🙏 💖 🇳🇿 🙋‍ 🇳🇱

[@ThisIsOurRetirement]

Good morning ☕️ that’s great you get two pensions , Norm just started getting his British pension 🇬🇧 as well he scraped in at 66 , now they have to wait till 67 which is really bad . How are your thoughts on travelling 🧳🤔 , even though some restrictions are lifting we have decided to stay home in Canada 🇨🇦 this winter, maybe next year if things improve . We hope you are keeping well and enjoying your weekend Cheers 🇳🇱 🍷🇨🇦🍺🍁🌺

[@healthyisgold]

I like your video, nice to connect with you

[@ThisIsOurRetirement]

Thanks and welcome we hope you have a great weekend Cheers 🍷🍁🍺

[@charlesvanderwoude8745]

Enjoyed your video. My wife and I both turn 65 in 2022. My advisor has suggested I wait till we turn 70 before taking any pensions. We own our house and we have no out standing depts and have a far amount of rrsp sand Tfsa’s. we are both still working. What are your thoughts

[@ThisIsOurRetirement]

We can only say what we did and we are not financial advisors, we took all the government money as soon as we qualified. The reason we took it was to cover our living expenses rent etc. We feel and there is no science to this, but we feel we will not live as long as our parents for many reasons including environmental and processed food etc. Our RRSP’s are modest, as we stopped contributing to them 10 years ago and used the contributions to pay off our mortgage and be debt free. When we sold our home we maxed out the TFSA’s, by the age of 70 we both will have been receiving government money for 10 years. We don’t need to wait and get the maximum $ we have enough already put by, it was more important for us to take CPP that we had paid into and not wait and pass away in our seventies. Thanks for your question.

[@LorenHenriksen]

I thought that you could not apply for gis if you are already collecting your pension? One or the other. Collect OAS and GIS until you are 71 then apply for your pension ? Thank you

[@ThisIsOurRetirement]

GIS you don’t apply for it is given to you based on your tax return, I got the age wrong on the video a very nice viewer told us the deferral age is 70. Have a nice weekend.

[@malcolmalexander5246]

In the UK, State Pension can also be deferred after normal retirement date and if so, the interest rate is very good. So if you can afford to delay it a few years it may be beneficial for you. Is that similar in Canada?

[@ThisIsOurRetirement]

Yes you can delay it too in Canada 🇨🇦, we decided to take it to both enjoy and invest as you don’t know what the future has in store. Please remember we aren’t Financial advisors and you should seek professional advice Cheers 🍷🇬🇧🇨🇦🍺

[@patlalla148]

Hey team what is the GIS and do I apply for that. Please tell me more. Love the vids.

[@ThisIsOurRetirement]

You qualify by income around the mid $30K for a couple, the taxman awards it if you qualify you don’t apply for it.

[@patlalla148]

Got it,

[@ThisIsOurRetirement]

Have a great weekend Cheers 🌺🥂

[@JimmyLewAndAndyToo]

Hey ... will Canada give this poor American any of that CPP or OAS 💰 ... 🤑 ... I can head over to Windsor, Ontario tonight (only 25 minutes away). Great advice and help for all your countrymen / women, per usual ... you two are rocking it. Keep the Faith ... 🇺🇲 🍺 🍺 🇨🇦

[@ThisIsOurRetirement]

Wow you guys are so near let us know when you will be in Windsor and we can meet you for a Beer 🍺, stay safe and have a wonderful weekend Cheers 🍷🇺🇸🇨🇦🍺

[@JimmyLewAndAndyToo]

@@ThisIsOurRetirement ... well see if we can make that happen before we head to Florida the first week of January ... 🇺🇲🍺🍺🇨🇦

[@ThisIsOurRetirement]

@@JimmyLewAndAndyToo You guys are nearer to Windsor that we are LOL 😂😂 let us know 🍺 sounds exciting going to Florida wish we were coming with you Cheers 🇨🇦🍺🍺🇺🇸

[@bearsandbutters]

Hey Tina and Norm! This is really great information about Timelines for getting yourself set up for retirement benefits and to do it early. Interesting to hear about these "allowances" you can get in Ontario. Since Butters lives in the US but is still a Canadian citizen.. what happens when she is 65? Is she eligible for filing while living in the US? It's nice that they have some automated services when you reach 65 that you don't have to apply for, and good they have a dental care option too. Great info about the systems that id whether you're in the country or not too. Great video and love you guys to the moon! 😘😘🥰💖💖🌛🌛

[@ThisIsOurRetirement]

Butters needs to have been resident in Canada for 20 years since the age of 18 and be 65 years old for Old Age Security, the CPP can be claimed at 60 and she must have contributed to CPP. The allowance is probably not going to happen for you. You guys can always come to Canada and get more benefits from Canada, just buy a Canada Goose Parka lol Great to hear from you both. If Butters qualifies they will pay that into the USA. Norm is getting the British old age pension paid from the UK in Canadian dollars into his Canadian bank account…..down to the liquor store lol Love you guys 💕🥂🍻🇺🇸🇨🇦🍷

[@Amitabha612]

Fantastic topic again. thanks again. I have a question - for example if someone stays out of Canada for 7 months then does he lose only that month's GIS or for that full year and have to requalify for the next year??

[@ThisIsOurRetirement]

We don’t think you would loose it that fast, the following year you might be declined.

[@Amitabha612]

@@ThisIsOurRetirement Thank you

[@pbickley1]

Now that the US border is open, will you travel down this winter?

[@ThisIsOurRetirement]

No we won’t because we mentally have decided to stay home in Canada 🇨🇦 this winter have a great weekend Cheers 🇺🇸 🍷🇵🇹🍺🇨🇦🙂

[@cindyzhao207]

This is great video to watch . Thank you so much , it is really helpful for someone who is in the middle age like me . watched your previous videos , I just opened mutual fund acct . however , I would like to ask if you think life insurance would the choice for retirement?

[@ThisIsOurRetirement]

Because we don’t have any dependents we don’t need life insurance but if it doubt contact a licensed insurance professional have a great day Cheers 🍷🌺🍺

[@cindyzhao207]

thank you !

[@patlalla148]

the GIS ?

[@ThisIsOurRetirement]

When you send your Tax return in Canada , they decide if you qualify or not Cheers 🌺🇨🇦🙂

[@kellyc9126]

You talk about an allowance for partners of retirees who receive GIS but what about single people like me? Is there something for them? Very much enjoy your videos ?

[@ThisIsOurRetirement]

There does seem to be some unfairness between single retired and couples glad you enjoy our videos and thanks for watching Cheers 🍷🌺🍺

[@martymendes1]

Another informative video. Here's a question for you or anyone else who may know. In Ontario, if you retire before age 65, is there any government help for drug coverage or are you on your own? Some of the private extended health plans I see max out at $4000 for drug coverage. What if someone has a catastrophic illness like MS which requires thousands per month in drugs? Thanks

[@ThisIsOurRetirement]

They could apply to the Trillium scheme depending on income, they help out with major conditions, other than that prior to 65 you have to fund it yourself.

[@bunnydaduk]

Hi I watched it through but maybe you should have said Canadian specific in the title ? Not really UK interesting

[@ThisIsOurRetirement]

The idea is to talk about concepts that might make someone in their own country explore the retirement options on offer.

[@karen4stars]

I have Canadian citizenship but have lived in U.S. my whole life. Planning to move to Canada when I turn 65 to get the "free" healthcare. Can I get any of these old age benefits? Are they ALL systems you have had to pay into all along to get them? I do plan to work from 65 until I turn 70 in Canada. I plan to live in .B.C.

[@ThisIsOurRetirement]

The Canada Pension Plan (CPP) is a scheme you contribute too with employers and employees paying into it. Provided you make one payment into it you qualify and if you work in retirement you will pay into it up to age 70 and each year it should go up. The amount you get is based on how much you have contributed so it won’t be much. Old Age Security (OAS) you have to had been a resident of Canada for 20 years after the age of 18 years old. Guaranteed Income Supplement (GIS), you have to be receiving OAS to get it. Hope that helps you and good luck with your retirement.

[@ddavidson5]

Regardless of any pensions if you are moving to Canada for "free" healthcare there are a few things to know. Healthcare in Canada is provided to all residents after about 3 months or so of residency but as healthcare is a provincial responsibility the coverage can vary somewhat. It may be worth your while to check the details of the healthcare coverage for seniors in each province you are considering. Of course your heart may be set on BC and every province has good healthcare but there are differences.

[@ThisIsOurRetirement]

It seems they have now waved the 3 months waiting period if you qualify you get it straight away , and yes all provinces might have different rules which might determine where you move to Cheers 🍷🇨🇦🍁

[@hurst-cs2jh]

Hi Karen, how are you doing?

[@catharineho8264]

Ontario has more generous coverage for drugs that seniors might need. BC is lacking

[@kburkes4245]

I live in the US, and just curious if the Canadian system of old age support is better than in the US? We just have social security and maybe a supplement if you're especially low income. But it sounds like Canada has more support for older folks.

[@ThisIsOurRetirement]

We are well looked after in Canada 🇨🇦 but we are taxed more as well , we are not too sure how they compare have a lovely weekend Cheers 🍷🇺🇸🍺🇨🇦

[@guyal2332]

From my understanding we are almost certainly better off in Canada if you calculate that we dont normally need to purchase a top-up insurance to complement our medicare after 65 as the Americans do. Even thiugh seniors there get a form of meduicare after 65 (?) they often feel compelled to buy supplemental coverage as their medicare is quite lacking in some respects.

[@ThisIsOurRetirement]

@@guyal2332 Yes we are fortunate to be well looked after with our healthcare , thanks for watching enjoy your weekend Cheers 🍷🇨🇦🇺🇸🍺

[@Katy32344]

I know, right? They seem to get everything. I guess that's the reward for paying so much in taxes their whole lives. 😆 🤣 😂

[@ThisIsOurRetirement]

@@Katy32344 At least it’s all good in the end LOL 😂😂( knew there was a reason for all that taxes 🌺)🤔

[@susanconnolly4931]

Hi Tima and Norm, I'm a little bit confused. Maybe I'm misunderstanding. Ie You and Tina are married, don't you have to have both of your incomes together, which would have possibly not inabled you Norm, to receive GIS? Or do husband and wife, not have to declare their combined incomes? I am 64 and my husband is 70, and our combined (small!) Incomes (we are retired) I believe if combined, I would not be able to receive GIS? We do separate income tax returns, and my husband, was eligible for GIS. Would you please clarify this for me. Very much appreciated. FYI...we are Canadians, living in Canada. Cheers from Nova Scotia. 😊

[@ThisIsOurRetirement]

We do separate tax returns but the income is combined together, you make that declaration on your tax return by naming your spouse and writing the tax identifier number (SIN). So a couple is measured on their combined income for GIS and if it's below $38K approx you the person over 65 and in receipt of OAS gets GIS. Tina is too young for GIS and OAS. We are not financial planners and we are not giving you financial advice, just telling our story. There is an allowance a spouse can get if under 65 and their spouse is over 65 and getting OAS and GIS but they just deduct it from the spouse and give it to the other. You don't apply for GIS the tax department gives it to you if you qualify. Thanks for watching the video.

[@mikeleblanc3443]

Hi Norm and Tina, I really enjoy your videos and find them quite informative. I have a question on how you qualify for the guaranteed income supplement. From what I’ve read, 25k is the max income per couple to qualify. Paying your rent for your condo and trailer and other living expenses your income must be higher than 25K? Can you do a video on how you manage this? Is all of your living expenses coming from TFSA or cash accounts. Thanks!

[@ThisIsOurRetirement]

You are a bit low on your estimate for G.I.S. for a couple it’s around the mid $30K level and around $19K for a single person. We do live frugally, no cellphone plans, basic internet. Thanks for the suggestion for a video.

[@mleibel4]

You can’t qualify for GIS is you have investments. Your pretty much in poverty to qualify.

[@jrochest4642]

Doesn't your income need to be less than 20K a year to collect GIS?

[@ThisIsOurRetirement]

It’s actually $37K for a couple , and in Canada 🇨🇦 we are not means tested Cheers 🍷🇨🇦🍺

[@HabibPharmacy]

Amazing dear 💟💕😍❤️ beautiful 💞🥰 so lovely good information very nice

[@ThisIsOurRetirement]

Thank you so much 😊

[@mleibel4]

How can you qualify for the Old Age Income when you have a lot of investment?

[@ThisIsOurRetirement]

It’s not means tested and we have paid the tax!

[@lynn9931]

Hi guys, I have a question about gis and can't find the answer anywhere so hopefully you can help, my husband retires next May and we will apply for gis and then the allowance but we heard they base it on the previous years tax return, but we was working the previous year so how does that work lol? Does it mean we won't get gis for a full 12 months?....help lol.

[@ThisIsOurRetirement]

You don’t apply for GIS it’s given to you based on your last years tax return, however you can get a form ISP3041 if your circumstances have changed drastically (reduced income), and they will assess you in the moment, based on your declared income.

[@lynn9931]

@@ThisIsOurRetirement ah thank you, I knew there was a form somewhere but couldn't find it anywhere, if they based it on our last years income then we don't qualify, we will qualify when we retire so I couldn't figure out how we would get the gis based on that. Thank you for your quick response and looking forward to tomorrow's video lol x

[@ThisIsOurRetirement]

Great!

[@martinman4540]

Hi Tina and Norm. Great info once again. You have mentioned the GIS several times in the past and I am wondering about qualifications for that. If one holds RRSP's and TSFA's, does this affect whether you qualify or not? I can't imagine our government giving us a guaranteed income supplement if we have a bunch of money in the afore mentioned accounts. Of course we'll be very happy to take it if they'll give it to us.😉😂

[@ThisIsOurRetirement]

Because in Canada 🇨🇦 we are not means tested for wealth you can have all those accounts ! Getting GIS is based on your declared income on your tax return have a great weekend Cheers 🍷🇨🇦🍺

[@cann9155]

👌🏾❤👏🏽

[@ThisIsOurRetirement]

Thank you

[@rozinant1237]

Isn’t it true, that you are only eligible for GIS, if your combined pension income is less than $25,000?

[@ThisIsOurRetirement]

No it’s 37K for a couple and remember Canada 🇨🇦 is not means tested so it’s just declared income , have a great weekend Cheers 🍷🇨🇦🍺🍁

[@rozinant1237]

Wow! European trips and vacation properties on an income of less than $37K! No wonder people are clamoring to immigrate to Canada!

[@ThisIsOurRetirement]

We are so glad we came to Canada when we did 🇨🇦 🍷

[@b.h.7423]

Shouldn’t yiunahve in the title, this is for Canada

[@ThisIsOurRetirement]

We are sharing ideas that work for us and to inspire international viewers to explore their local options, thanks for watching.

[@85728itsmeee]

Lol like every other video specifies that it only applies to the US?!!

[@ThisIsOurRetirement]

@@85728itsmeee Thanks for watching have a wonderful weekend Cheers 🍷🇺🇸🍺🇨🇦

[@b.h.7423]

@@85728itsmeee did you use both brain cells on that one lol

[@DesmondsDonders]

Or you can come back to UK and get nothing from our government. Well there will be nothing left in the pot by the time I am 67.

[@ThisIsOurRetirement]

You make it so tempting 😂😂 I Norm have just received my first British pension payment so that was reassuring.

[@faygallagher61]

Quite frankly I miss Wales. Free prescriptions, free bus travel anywhere in Wales, not to mention bus stop almost on door step. Train station ten min away with senior discount. £200 towards my heat bill every November. Could walk to the grocery store. Budget airlines to almost anywhere in the world. Mobile phone service is approx $80 cheaper than here. In general internet much cheaper than here. I almost want to say groceries are more expensive here. Gas is cheaper here but going up. Oops sorry for standing on soapbox. I came back to Ontario to be with my family and retire xx

[@ThisIsOurRetirement]

@@faygallagher61 Wow obviously lovely memories of 🏴󠁧󠁢󠁷󠁬󠁳󠁿 Wales , but really happy you are back with family for your retirement Cheers 🍷🏴󠁧󠁢󠁷󠁬󠁳󠁿🇨🇦🍺

[@faygallagher61]

@@ThisIsOurRetirement Thankyou. Yes arrived back in Ontario last year after being away for 17 years. Not so sure it's any cheaper to live here but not near as congested ❤

[@faygallagher61]

oh gosh I forgot the free dental in Wales too 🥰

[@LiveontheSunshineCoast]

Very interesting and helpful. I especially think that last nugget at the end was extra interesting! 👀✈️🛬👀

[@ThisIsOurRetirement]

Yes it was an inside into how information is being “sold” to other agencies like unemployment and they do catch people 😂😂