8 Costly CPP Mistakes Most Canadians Make (And How to Fix Them)

Описание: Are you making a permanent mistake with your Canada Pension Plan?

Most Canadians think choosing when to take CPP is just about picking an age on a form. But a few simple misconceptions about tax withholding, drop-out provisions, and the 2025/2026 death benefit updates can cost you thousands of dollars over your retirement.

In this video, Mac breaks down the 8 biggest CPP mistakes seniors make, how they affect your wallet, and exactly what you need to do to protect your hard-earned retirement income.

What we're breaking down today:
0:00 - The Costly CPP Assumptions
1:00 - Mistake 1: Misunderstanding the Calculation (Drop-out Provisions)
2:15 - Mistake 2: The Self-Employed Tax Trap
3:30 - Mistake 3: Picking Your Age by Default
4:45 - Mistake 4: The Tax Withholding Shock
6:00 - Mistake 5: The GIS & Clawback Ripple Effect
7:15 - Mistake 6: The Survivor Benefit Misconception
8:30 - Mistake 7: Missing the New $5,000 Death Benefit Top-Up
9:45 - Mistake 8: Forgetting to Check Your Contribution Record

🍁 Don't leave money on the table. Log into your My Service Canada Account to track your personal contribution history securely.

Watch the rest of our Canadian Retirement Cluster:
• Watch Video #2 (Best Age to Start CPP): [   • CPP at 60 vs 65 vs 70: The Real Math (2026)  ]
• Watch Video #7 (7 Things to Do the Year You Start): [   • 7 Things to Do the Year You Start CPP & OAS  ]
• Watch Video #8 (CPP Survivor Benefits Explained): [   • CPP Survivor Benefits: What Your Spouse Ac...  ]

Disclaimer: This video is for educational and informational purposes based on publicly available Service Canada guidelines as of July 2026. Pension regulations vary wildly based on individual residency, contribution history, and marital status. This channel does not provide personalized tax, financial, or legal advice—always verify your options directly with Service Canada or a certified professional.

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