Where will your retirement income come from?Having a variety of income sources can make
it much easier to retire in comfort. In addition to the income you
receive from your Retirement Income Options, here are some of the
most common sources of other retirement income. Government sourcesEmployment-related sources- Salary
- Pension plans
- Other savings plans
Personal sources- Non-registered investments
- Personal assets and income
- Convert home equity into cash with a reverse mortgage
- Other
More about government pension plansAs Canadians, we enjoy a secure social
benefit system. Guaranteed retirement benefits have contributed to
Canada's consistent ranking as one of the finest places in the
world to live. To assess the impact of these programs on your
retirement plans, speak to your investment consultant. 
Canada Pension Plan (CPP)/Quebec Pension Plan (QPP)CPP/QPP is administered by the Government
of Canada. The QPP is the Quebec equivalent of the Canada Pension
Plan. The following is an overview of CPP and QPP benefits. Features --- Benefits are taxable
- Only those who have contributed to CPP/QPP
are eligible to apply for CPP/QPP benefits
- The amount of benefits you receive will
depend on the amount and number of years you have contributed
- The maximum benefit allowable is $863.75*
per month
You can begin to collect CPP/QPP benefits as early as age 60. If
you choose this option, any benefits collected between age 60 and
65 will be reduced by 6% annually (1/2% per month). If you start
your CPP/QPP benefits after you reach age 65, any benefits received
will be increased by 1/2% for each month of postponement up to age
70.
Old Age Security (OAS)OAS is paid to eligible Canadian residents,
age 65 or older. To receive
OAS benefits, you must be a Canadian citizen or landed immigrant
and have resided in Canada for at least 10 years since the age of
18 (benefits are reduced if residency requirements are not met).
Features --- Benefits are taxable
- OAS benefits are adjusted quarterly based
on increases in the Consumer Price Index
- The maximum monthly benefit is
$491.93*
Guaranteed Income Supplement (GIS)The Guaranteed Income Supplement is
available to all eligible OAS recipients who have no other
financial resources. Features --- Benefits are not taxable
- GIS payments are indexed quarterly based
on increases in the Consumer Price Index
- Maximum monthly payments are $620.91* for
a single pensioner and $410.04* for married pensioners
For help in setting your retirement goals and understanding your
retirement income options, feel free to visit any TD Canada Trust
branch or call
any time for more information.
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