OAS at 65 vs 70? What The Math Tells Us

Want to start your own retirement plan! https://app.adviice.com/start-discovery?utm_source=youtube&utm_medium=video&utm_campaign=oas-at-65-vs-70-what-the-math-tells-us Don't have a detailed retirement plan yet? Start your retirement plan for just $9. This includes a comprehensive 30-day email/video course with detailed instructions. --- When should you start your Old Age Security (OAS)? The Canadian government incentivizes you to delay your government pensions from age 65 to 70, but they don't treat all benefits equally. For CPP, delaying from age 65 to 70 earns you a 42% increase to your payments. But for Old Age Security, that incentive is smaller, its just a 36% increase to your payments. That 6% gap might sound small, but when you run the numbers as part of a full retirement plan, it completely shifts the breakeven age. Today, we are going to look at what that 36% increase means for your retirement plan, and why it changes the breakeven math behind taking OAS at 65 versus 70. --- Disclaimer: This video is for educational purposes only and does not constitute investment advice or financial advice. All information provided is for illustrative purposes only and you should not rely on such information as the primary basis of your investment, financial, or tax planning decisions. Every effort has been made to ensure the accuracy of its contents. No representations, warranties or guarantees are made as to the accuracy of any estimates or calculations provided. Nothing in this material should be construed as investment or tax advice, or a solicitation or offer, or recommendation, to buy or sell any financial product or securities. Before making any financial decision, you should review your situation with a financial planner.