Thursday, July 31, 2008

CPP pension

Question:

I am having difficulty getting RetireWare to show my expected CPP pension income. I am currently semi-retired, age 56. I have no full-time employment earnings and have checked that box in RetireWare's Financial Information - Earnings section. Nor am I currently in receipt of any CPP pension, so I can't enter any in RetireWare's Government Pension section. Is there any other place I should enter my expected CPP income so that RetireWare will recognize it?

Answer:

If you are semi-retired, select 'Already Retired' in Financial Information as you did, but enter an amount of earnings. This amount will be used to estimate the CPP. If you are working part-time, you can put an amount in 'Sources of Income'.