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Money Feels

34: CPP and Your Retirement

Aug 24, 2023
This podcast discusses the Canada Pension Plan (CPP) and demystifies misconceptions about it. Topics include: how CPP works, who gets it, calculating benefits, concerns about running out, self-employment, having a pension, and when to start taking out CPP.
41:31

Podcast summary created with Snipd AI

Quick takeaways

  • Contributing to CPP is essential as it provides a supplementary income in retirement based on contributions made.
  • Delaying the start of CPP can result in higher monthly payouts, maximizing the benefits received.

Deep dives

Overview of CPP and Retirement Anxiety

The podcast episode explores the Canada Pension Plan (CPP) and addresses the anxiety many people have about retirement. It emphasizes that CPP is a secure retirement plan that provides a monthly taxable benefit to replace part of your income when you retire. The hosts aim to calm listeners' worries and highlight the importance of understanding how CPP works.

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