Nov
28
6:00pm
Planning for Retirement on a Low Income
By TPL Programs
Low-income retirement planners need to understand how to maximize government benefits such as Canada Pension Plan (CPP), Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). Mainstream financial planning targets middle or high-income earners. When applied to low-income earners, it can reduce government benefits and lower retirement income.
John Stapleton, Open Policy Ontario and social policy expert, is joined by Alexandra Macqueen and Ashley Gordon from FP Canada, to outline what low-income earners and advisors need to know:
• How to minimize GIS clawbacks when there are other sources of taxable income
• OAS and GIS eligibility for newcomers
• What counts as taxable income and what does not?
• How income from an RRSP can claw-back benefits, while a non-taxable TFSA will not
• When to apply for CPP and when to draw down from an RRSP
The plain language booklet, Low Income Retirement Planning (2023) supplements this session. This is a recommended workshop for anyone retiring on a low income and those who provide financial advice.
The 2-hour program will be recorded and available for replay through Crowdcast at this same link.
Questions about online programs? Please email us at [email protected]
Accessibility
Toronto Public Library is committed to accessibility. Please call or email us if you are Deaf or have a disability and would like to request an accommodation to participate in this program. Please let us know as far in advance as possible and we will do our best to meet your request. At least three weeks' notice is preferred. Phone 416-393-7099 or email [email protected]
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TPL Programs
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