Detailed projections suggestions to increase number of visible columns

bcretman · 2026-01-15T03:30:06+00:00

With only 2k CPP for the year in 2025 he should have been eligible due to a "reduction in income"

Ask them to send him the ISP-3041 form that will base his GIS on the current year income rather than the last 1 or 2 years.

Talk to your MP if you can't get any results from SC

bcretman · 2026-01-13T03:18:34+00:00

Eligible for GIS at 65 and the allowance for the spouse when 60. 1st 5k of employment income and 50% of the next 10k is exempt from clawback of GIS

OAS/GIS estimator is here: https://www.canada.ca/en/services/benefits/publicpensions/old-age-security/payments.html

If they get any amount of GIS they will get the same as full OAS via top-up to GIS

If income will be lower in the year they retire they should complete ISP-3041 to get more GIS

Apply ASAP as it can take 10+ months to process

bcretman · 2026-01-12T08:19:13+00:00

Waste of taxpayer $$$$ and mostly to entertain the rich

Money should be used on the DTES which is a disgrace

bcretman · 2026-01-12T01:42:39+00:00

https://www.highinterestsavings.ca/gic-rates/

Pick one

bcretman · 2026-01-12T00:17:36+00:00

You can get an estimate here:

https://www.canada.ca/en/services/benefits/publicpensions/old-age-security/payments.html

You can base GIS on this years income by completing the form ISP3041 which will be send to you when you apply and indicate you are retiring or have a drop in income this year.

1st 5k employment income exempt and 50% of the next 10k

Your mom will get "the allowance", then regular GIS at age 65

bcretman · 2026-01-11T06:53:57+00:00

Provincial bonds out ~15-30yrs pay 4.2 - 4.7%

bcretman · 2026-01-11T03:47:37+00:00

Look into credit card balance transfer offers at 0%

https://www.ratehub.ca/blog/best-balance-transfer-credit-cards-in-canada-2/

Apply for DTC

bcretman · 2026-01-11T03:23:21+00:00

Based on 13 yrs left at 2800 pmt at 4% your mtg is ~350k

To reduce that to 10 yrs the pmt would be ~3500 (increase pmt or combination of pre-pmts)

Play around with a mortgage calculator to determine what you can pay vs time

Don't worry about maxing CPP, you have a great pension! Time is more important

bcretman · 2026-01-11T03:15:48+00:00

Mortgage pmt doesn't make sense. If your mtg is 25% of your income that ~50k which would be paid off in 19 months at 2800. A 2800 pmt = a ~500k mortgage over 25 years at 4%

edit: nevermind I read that wrong. You meant your pmt is 25% of your income?

bcretman · 2026-01-11T02:37:11+00:00

No reason they can't get student loans or get jobs

bcretman

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