In the year leading up to your retirement, make sure you:
- Review your retirement budget, including your income and expenses
- Sign up for senior drug benefits with OHIP if you haven’t done so already
- Review your will and estate plan
- Check how you plan to protect your lifestyle with insurance
- Plan for taxes
- At least six months before you retire, take steps to turn your workplace pension and other retirement savings into income.
- Apply for any government benefits you are entitled to. This may include:
- Canada Pension/Quebec Pension Plan (CPP/QPP)
- Old Age Security (OAS)
- Guaranteed Income Supplement (GIS)
Make sure you meet the deadlines for these plans so you don’t miss any payments.
How to apply for government retirement benefits
Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.