While passing along the troubling news that retirement ages may be rising on the other side of the Atlantic Ocean, i.e., to age 66 in England, to 67 in France and to 102 on the island of Sardinia (though that may just be an ugly rumour perpetuated by a Sardinian shuffle board player with a snarky attitude), I forgot to mention how lovely and different things are here in Canada, home of 100-proof Maple Syrup and kind-hearted shuffle board squads.
[Meet the Sardinian Shuffle Board Champeens: photo details]
Unlike in England and France (possibly Sardinia, an Italian island that is not only synonymous with taut, tanned bodies and good looks, but also has the world's highest percentage of people who have passed the 100-year-old threshold), where retirement and pension changes are rammed down throats with an iron fist (so it seems to some), in Canada a few nice little changes are being proposed - here and there, perhaps - and citizens are mildly encouraged to consider them when they have a spare moment.
Maybe you’ve heard, if you’ve had the time.
A recent newspaper article, entitled ‘Expert: Avoid CPP shock’ (see how nice we are in Canada; we don’t want anyone to receive a shock) I read the following:
“Upcoming changes to the Canada Pension Plan will have a major influence on what age people retire, with those opting to work longer standing to get significantly more cash.” (Oct. 27, Brantford Expositor)
Now, is “ significantly more cash” not good news?
Sure, there’s this little (bitty) downer:
“The changes will mean anyone who chooses to retire early and begin collecting benefits at 60 will have about $4,000 a year less than if they had retired at 65.”
But, you likely already knew about that mild downer.
However... (here’s where it get so good!)
“If you stay on the job until 70, payments could be $4,600 a year more, based on maximum CPP benefits.”
Good grief. Money will be spilling out of your baggy pants if you only work 5 years longer than you may have originally planned.
Do the math. $4,600 MORE per year is about $383 MORE per month or about 13 bucks MORE per day.
(When I typed 13 bucks I almost wet my pants. I’m not kidding).
Oh sure, you’ll be five years older but don’t think about that. Think about $13, or $12.78 actually, and what it can buy.
Now, I’m not here to tell you how to spend your money or ask you to make a list of all the things you can buy with $12.78.
["Buy batteries for your old radio. Live it up!": photo GH]
I’d rather tell you the best news yet from the same report.
First, I’d better go to the bathroom.
More to follow.
***
Excited yet?
You’re probably wondering why I sat on this news.
More news about THRIFT (not half as good) while you’re waiting.
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