When to retire is an important decision. As you begin to consider your retirement date, there are a number of factors to take into account, including other sources of retirement income you may have in addition to your MEPP pension benefit.
When to retire is an important decision. As you begin to consider your retirement date, there are a number of factors to take into account, including other sources of retirement income you may have in addition to your MEPP pension benefit.
The money you receive once you retire will likely come from different sources. The Canada Pension Plan (CPP) and Old Age Security (OAS) are the two retirement incomes most Canadians will collect. You may also qualify for a Guaranteed Income Supplement (GIS).
You may have Registered Retirement Savings Plans (RRSPs) or other investments, or perhaps you have a pension from another employer.
We recommend that you seek advice from an independent financial professional before making any retirement decisions. To help you choose the right financial professional, the Government of Canada has some helpful guidelines.