I reached the halfway point on my Canadian CFP course on Retirement Planning. It is still interesting to see the "Goldilocks" Canadian retirement system.
Also, I had the opportunity to test the government services of the US and Canada on social security and Canada Pension Plan by phoning both governments for information.
Also, I had the opportunity to test the government services of the US and Canada on social security and Canada Pension Plan by phoning both governments for information.
- US - long waits on the phone, reasonably knowledgeable person provided some information, but no detailed knowledge of how CPP and US SS are coordinated, did not sound like a happy camper.
- Canada - no waits, super knowledgeable person, happy camper.
So while CPP is less lucrative than US Social Security, Canadian government workers seem happier and more knowledgeable.
Goldilocks? In what sense is it Goldilocks?
ReplyDeleteThey want you to be not too rich and not too poor, just in between. OAS clawback, Allowance, taxes, rules on retirement plans seem to be set up to make sure you are just right.
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