News
Download New Penad Newsletter
Click here to download the PDF issue of Penad's latest newsletter (opens in new tab in your browser). Penad's Signature Magazine
2020 YMPE Announced
On November 1st, the Canada Revenue Agency (CRA) announced the maximum pensionable earnings for 2020 will be $58,700, up from $57,400 in 2019. Contributors who earn more than $58,700 in 2020 are not required or permitted to make additional contributions to the Canada...
2019 YMPE Announced
On November 1st, the Canada Revenue Agency announced that the maximum pensionable earnings for 2019 will be $57,400, up from $55,900 in 2018. Contributors who earn more than $57,400 in 2019 are not required or permitted to make additional contributions to the Canada...
Updates for Pensioners in Canada Pension Plan
Click the link below for updates on a number of CPP updates for pensioners, including: Annual indexation 2017 Tax statements Do you have to pay income tax every year when you file your tax return? Coordination of benefits with the Canada Pension Plan and Quebec...
Direct Deposit for Retirees Abroad
Thinking of retiring outside Canada and liking the idea of your Canada Pension Plan pension payment deposited directly into your bank account? Get it done easy! Send a written request to the Pension Centre (LINK BELOW) with a void cheque or a document with the...
Marriage after retirement
If you are a retired member of the Canada Pension Plan or Quebec Pension Plan and marry after retirement, your spouse is NOT entitled to a survivor pension in the event of your death. However, you may choose to provide your spouse with a pension at the time of your...
Indexing rate – Retired members – Pension
The indexing rate for 2018 in Canada is 1.6%. The indexing of public service pension plan benefits is governed by two pieces of legislation; the Public Service Superannuation Act (PSSA) and the Supplementary Retirement Benefits Act (SRBA). Pension increases for...
New Monies for Canadian Military Disability Plan
The Service Income Security Insurance Plan (SISIP), a long-term disability insurance plan for members of the Canadian military, is getting $622 million in new funding to backstop the plan's deficit, according to budgetary numbers tabled this week in the House of...
OHIP Plus May be a Negative
OHIP+ has a great premise, but the devil may be in the details. The program was created so that children and young people under age 25 get free prescription meds. As good as the universal program is in Canada, one area of concern has always been access to medications....