Not so much a clawback as policy that you can only have one main pension from the government...which is well advertised and should not be a surprise. What some don't know is that you can draw your CPP from 60-65, before the adjustment. So that is free money. I just started drawings, and it is all being invested. 5 years of 800 a month is...useful.It technically is not a clawback but its legislated. and Yes I went 65 this year and it happened.
Here is the link to the Veterans Well-being Regulations, go to section 22 to see the list of what classifies as "B" for the A - B calculation of the IRB (DEC) sum.DEC and turning 65 what happens with my pension. Has anyone that has been declared DEC and turned 65 what drawbacks did you experience. People say at 65 you get clawed back to 80% and I have seen some that report turn 75.
I will take the free money for 50K Alex. Its not like my career and lifestyle choice suggest a long life, at 45% disabled already and counting...OTOH, leaving CPP to age 70 increases the amount. If age 65 = 100%; at age 60 you lock in at 64%; at age 70 you lock in at 142% - more than double the amount your 60 year old friend took.
Yup. Average male life expectancy is ~80 years, so reduced CPP for 20 years vs. enhanced for 10.I will take the free money for 50K Alex. Its not like my career and lifestyle choice suggest a long life, at 45% disabled already and counting...
Or just family history,......males on both sides of my family have all passed on well below the average, taking the money while [a] I can, [b} can still do stuff to enjoy it.Meh.. Give me money now that I can shrink by myself in the market. All of that whiskey and 42 years of smoking tilts the balance, you know? Add in a sprinkle of 40 years in the Infantry and I think I have the right approach for my circumstances..
Well there has to be at least ONE time in my life that happens.....You're saying that you're a below average male?
My average is every other man's best day ever. Just saying.
More like epochal.You and I should be pro wrestlers and face each other in a no words barred ego match.
It'd be epic....
You and I should be pro wrestlers and face each other in a no words barred ego match.
It'd be epidural....
I was thinking you meant two old guys......kinda like that other "fellow" right above this post. Winner gets to take him out afterwards...I was paying you a compliment.