What is retirement planning in Canada, and what is its difference from other countries?

There are several types of income In Canada that can be earned upon reaching retirement age.

Retirement planning
The retirement age depends both on your financial capabilities (after all, you can retire not because of age, but as a result of achieving a certain income that will allow you to live without worrying about your livelihood), and on your age or the age of your spouse.
If you decide to retire at the age of 65 (there is no gender difference in this matter in Canada), then you can count on a Canadian state pension CPP/QPP and also, if you have lived in Canada for a certain number of years, then you can count on old-age benefits OAS.
If you do not have a large income and receive an OAS, you can apply for low-income benefits GIS. For most people, living on Government pension money will be difficult (especially since most immigrants will not receive the maximum for all these pension programs). In this regard, you should plan retirement, future place of residence and income, as well as save money throughout your working career.

Here are some questions that need to be answered while planning a pension:
- At what age do I want to retire?
- Do I want to live in the future where I live now?
- What will I do when I retire?
- What income do I need to receive when I retire?
- How much money do I need to save in order to accumulate the amount I need
- What investments do I need to have to keep my savings from inflation and reduce taxes?
- How to guarantee a certain income in case of my incapacity before retirement?

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