Hello Carolyn – With a maximum of 5 years of CPP contribution, your CPP retirement pension at age 65 is about $142 per month. With 5 years of residency in Canada, your OAS at age 65 would be approximately $73 per month (5/40 of the full OAS of $583.74) if you qualify for the agreement. However, it may be advisable to move your AEO to the age of 70, as it will double during those 5 years and you have reached “break even” by the age of 75. Meeting these minimum contribution requirements is generally not difficult if you have lived in Canada all your life. It is much more difficult when you have moved to or from another country in your lifetime. In the absence of a social security agreement between these countries, citizens may not be entitled to benefits from one or two of these countries. Assuming international Operations assigns me these work and/or contribution periods in these other countries, how are AEOs, GIS and spouse assistance affected if I receive a tax-free benefit from one of the countries that are not paid to a Canadian bank? The combined annual income for my spouse and I is below the thresholds for the OAS, GIS and allowance. Ken – My expertise does not imply an in-depth knowledge of the various agreements, but I think the Canada-U.S. agreement only counts U.S. contribution periods (not just U.S.
stays) as periods of stay in Canada for oEA purposes. Here is a link with more details: www.esdc.gc.ca/en/cpp/international/unitedstates.page. If you are self-employed and normally have to pay Social Security taxes in both United States. and Spanish systems, you can set your exemption from one of the taxes by writing to this: if you work as a worker in the United States, you are normally covered by the United States, and you and your employer only pay Social Security taxes in the United States. If you work as an employee in Spain, you are normally covered by Spain, and you and your employer only pay social security taxes in Spain. Hello, Doug, my mother will be 20 years old as a legal citizen in Canada. She is from Guatemala. Someone told me that she could get her retirement pension, even if it`s not a deal, but they will deduct the 30% of the tax.
In June, she will be 82 years old. I read on the retirement page, but I didn`t confirm anything. Can you tell me how it works? Thank you Tom – Every stay in Canada is counted on the exact number of years/months/days, then they are added up to get your total number of years. It will be very difficult if someone has multiple outputs/inputs without proof, but do your best and good luck. If you don`t meet the 20-year rule based exclusively on your residency in Canada, you can still meet it under the Canada/U.S. agreement using your us years of residency, so all you`re really talking about is receiving 18/40 or 21/40 from the OAS. Hello David – Yes, as part of your Wind Elimination Commission (WEP), if you have less than 30 years of considerable income in the United States, all SSA benefits will be reduced in part for any CPP benefits you receive, but they will not diminish the benefits of the SSA to offset the oas benefits, as you suspected. I have the documents to get the citizenship time before pr counts as 50% residency. I hope you will know if it is the same for the OAS.