Reply #13: If it were Canada Pension...

[murphyj87]

If it were Canada Pension, you can get 70% of your maximum ($980 for me) at age 60, and then add .5% for each month past the age of 60 that you start receiving it. What is interesting though, is that it is advantageous to take Canada Pension at 70% at age 60 rather than 100% at age 65 for 15 years (i.e age 75.2 actually). Of course at age 65, a Canadian also gets Old Age Security, which is about $600 a month. A Canadian Senior does not have a different health care system. A Canadian Senior has the same health care system as anyone of any age in Canada, with no out of pocket cost whatsoever. Canadian Seniors have Pharmacare, which means that after I pay 3% of my net income (i.e. gross income minus deductions) the province pays 80% of the remainder, and I pay 20%.