What is CPP? | 2024 Canada Pension Plan Explained
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🇨🇦 Did You Know? Taking CPP at 60 could cut your payout by up to 36%. That means locking it in early might cost you hundreds every single month — for the rest of your retirement. Let’s do the math: 🏠 Average rent for a 1-bedroom in Canada: ~$1,500/month 🛒 Groceries for a couple: ~$800/month 📞 Utilities, insurance & other bills: $400 Even if you’re collecting both CPP and OAS, that’s barely enough to get by — and if one of you passes away, your income could drop by 40% overnight. 💔 That’s w
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🇨🇦 Did You Know? Taking CPP at 60 could cut your payout by up to 36…
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FacebookCanadian Life Rates
🍁Retirees: After working hard your entire life, what happens when your savings run out but the bills keep coming? The average CPP payment is only $850/month — nowhere near enough to cover today’s mortgage, groceries, and bills. And here’s the truth: 75% of Canadians aged 55–64 have less than $100,000 saved for retirement. That’s why more Canadians are turning to life insurance — to protect their family’s future when savings and CPP simply aren’t enough. 🍁 Here’s what you can lock in today: ✅ U
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