# Canada Pension Plans CPP and OAS



## mdmm55 (Apr 24, 2019)

Hi , 
I am a 61 years old Canadian citizen,with full time job in a hospital,since 15 years in Toronto and my wife (61 years old) have full time job for 3 years.My annual income is $57000 and my wife is $ 27000.
Me and wife want to Retire either at 65 years of age.Kindly advise us regarding our following questions,
Q 1-Will we both get separate CPP(Canada pension plan) or together and what will be amount per month to each of us.Can we both claim to get both Canada Pension Plan (CPP) and Old Age Security (OAS).
Q3- We have joint Mortgage of $ 180,000 and bank money of $ 140,000 . Will these amount reduce our CPP and OAS and what what should we plan to get full,maximum CPP.
Q4- I worked for near 10 years in New York,USA and have 39 credits/units.I need 40 credits to claim USA social security old age benefits.Can I share one credit from Canadian job funds ?
Q5- I have  a pension plan from my hospital job (HOOP) .will CPP and HOOP effect each other in getting full Pension amount ?
Q 6. May you suggest a Pension Plan for us ?
Best Regards..


----------



## Camper6 (Apr 24, 2019)

I can answer a couple of questions.

When you apply for CPP and OAS you will apply separately and get CPP based on your contributions . OAS will be the same for both at 65.

Your mortgage and bank account will not affect CPP or OAS payments.

I suggest you hire an investment adviser.


----------



## Lethe200 (Apr 24, 2019)

You cannot use Canadian work credits for U.S. Social Security. Sorry!


----------



## michael60 (Apr 26, 2019)

Camper6 said:


> I can answer a couple of questions.
> 
> When you apply for CPP and OAS you will apply separately and get CPP based on your contributions . OAS will be the same for both at 65.
> 
> ...


good suggestion


----------



## mdmm55 (Apr 26, 2019)

Lethe200 said:


> You cannot use Canadian work credits for U.S. Social Security. Sorry!


********************************************************************************
Thank you for reply.
As a Legal resident,that time in USA , I worked full time  for nine years , in a NewYork Hospital in New York city and paid a big amount of social security tax and filed my tax every year.
A year ago, Social security administration USA , replied to my letter that I will get social security pension benefits. They wrote that SSA will share Tax information with CRA (Canada Revenue Agency) for my pension from SSA   , USA .
Please let me know, did president Trump changed the laws recently in new  NAFTA / USMCA   agreement ??


----------

