OCI and Canadian pension ?

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musicgold
Member since: Jul 07

Posts: 119
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Posted on: 28-12-11 19:20:29

Hi,

I was told by another desi that if a Canadian citizen gets the OCI status, they are not eligible for Canadian pension. I don't what it means.

Can someone please shed some light on the topic?

Thanks.

tamilkuravan
Member since: Jun 05

Posts: 5775
Location: God's own country
Post ID: #PID

Posted on: 29-12-11 01:28:09

I agree with ashedfc but seeing the economy going the way it is, donot bet on these in the long term. For long term only your financial planning / real estate / Gold investment / investments in children and that too in large numbers would help.
Peace

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web2000
Member since: May 06

Posts: 849
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Posted on: 29-12-11 10:45:51

Quote:
Originally posted by tamilkuravan

I agree with ashedfc but seeing the economy going the way it is, donot bet on these in the long term. For long term only your financial planning / real estate / Gold investment / investments in children and that too in large numbers would help.
Peace

Absolutely correct.

dan
Member since: Jan 05

Posts: 449
Location:
Post ID: #PID

Posted on: 30-12-11 08:22:33

Quote:
Originally posted by tamilkuravan

I agree with ashedfc but seeing the economy going the way it is, donot bet on these in the long term. For long term only your financial planning / real estate / Gold investment / investments in children and that too in large numbers would help.
Peace

indeed very true. What is the CPP rate these days anyway ?

web2000
Member since: May 06

Posts: 849
Location:
Post ID: #PID

Posted on: 30-12-11 11:09:13

Quote:
Originally posted by ashedfc

No way,
Govt. Pension comprises of 3part -CPP; OAS & GIS
For CPP, its your contribution coming back to you, so you are entitled to get it where-ever you live.
For OAS (Old Age Security) & GIS (Guaranteed Income Supplement), there's residency requirements you have to meet, to qualify & to continue to qualify..

OCI status, allows you to live in India for a prolonged duration (maybe for ever), so that prespective; if you live in India, than you may not meet the residency requirements of OAS/GIS.

So RRSP also like CPP and there is no residency requirements to get it back. Is it true?

tamilkuravan
Member since: Jun 05

Posts: 5775
Location: God's own country
Post ID: #PID

Posted on: 31-12-11 07:37:34

Yes. Check my other post.
There is no minimum residency requirements to get the CPP where ever you are.
However you may need to be a Canadian citizen. That is a whole other ball game.
Peace

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