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Planning for Retirement on a Low Income

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On Thursday Nov 4th at 6:00 PM, this free session from Toronto Public Library will walk you through special considerations when planning your retirement on a tight budget.


Topics covered include:

  • The importance of the GIS and how to minimize the amount of claw backs from other sources of taxable income
  • OAS and GIS eligibility for newcomers
  • What counts as taxable income and what does not
  • How income from an RRSP can reduce or claw-back benefits, while income from a TFSA which is non-taxable will not
  • When to apply for CPP and when to draw down from an RRSP
  • and, what’s new in 2021 such as the one-time $500 payment, 10% increase to OAS this fall if you are over 75, RRIF rates going back up and CERB claw backs

Related

282 Wright Avenue,
Toronto, ON, M6R 1L5

Factor-Inwentash Faculty of Social Work
University of Toronto

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