Retirees: Here's How to Boost Your CPP Pension [Yahoo! Finance Canada]
Sun Life Financial Inc. (SLF)
Last sun life financial inc. earnings: 2/12 05:01 pm
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Source: Yahoo! Finance Canada
The Canada Pension Plan, or CPP, is a taxable monthly retirement payout . In 2024, a 65-year-old retiree beginning the CPP will receive an average of $831.92, while the maximum payment is higher at $1,364.60. The amount an individual receives via the CPP depends on multiple factors such as the age you decide to start the payout, the length of these contributions, and the average earnings throughout your working life. Now, even if you delay the CPP earnings by five years, the maximum payout will rise by 42% to $1,937, which may not be enough to lead a comfortable life in retirement. It's evident that Canadian retirees need to boost their CPP pension by creating alternate passive income streams. Here are two ways to create a passive-income stream and supplement the CPP payouts in the process. Invest in fixed-income products Retirees generally have a lower risk profile and would like to invest in fixed-income products such as Guaranteed Investment Certificates (GICs). This finan
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SLF
Earnings
- 8/12/24 - Miss
SLF
Analyst Actions
- 9/5/24 - Barclays PLC
SLF
Sec Filings
- 9/11/24 - Form 6-K
- 8/27/24 - Form 6-K
- 8/13/24 - Form 6-K
- SLF's page on the SEC website