Canada Pension Alert 2026 Tax Changes Are Reducing Senior Benefits – Check Now

Описание: If you're receiving CPP or OAS benefits, a major tax change in 2026 is quietly reducing how much money actually lands in your bank account each month. This isn't about benefit cuts—your entitlement hasn't changed—but updated federal tax withholding rules and slower bracket indexation mean more is being deducted before you ever see your payment. For seniors who took CPP early at age 60 or who rely on combined CPP and OAS income, this could mean hundreds of dollars less per year in your pocket. In this video, I break down exactly what's changing, who is affected, how much you could lose, and the steps you can take right now to protect your retirement income.
🇨🇦 What You'll Learn:
• Why your CPP and OAS net payments may be lower in 2026 even if benefit rates stayed the same
• Exactly how the updated federal tax brackets and withholding tables affect seniors
• The real impact of taking CPP at age 60 versus waiting until 65 or 70
• How the OAS clawback threshold works and why slower indexation affects higher-income seniors
• Step-by-step guide to reducing tax withholding using CRA Form T1213
• Every tax credit and deduction Canadian seniors should be claiming but often miss
• How pension income splitting can lower your tax bill and protect OAS from clawback
• Critical GIS rules: why you must file taxes every year even if you owe nothing
• CPP and OAS payment schedule for 2026 and how to set up direct deposit
• How to verify your benefit amounts and update your Service Canada information
• Real examples showing monthly cash flow impact for typical senior income scenarios
00:00 Introduction – Tax Change Affecting CPP & OAS in 2026 01:45 What's Actually Confirmed vs. What's Rumor 04:20 How Tax Withholding Works on CPP and OAS Payments 07:10 2026 Federal Tax Bracket Changes Explained 10:30 Real Example: Monthly Payment Impact for Seniors Who Took CPP at 60 13:40 OAS Clawback Threshold and Slower Indexation 16:25 How to Request Reduced Withholding with Form T1213 19:50 Tax Credits Every Senior Should Claim 23:10 Pension Income Splitting Strategy for Couples 26:30 GIS Rules and Why Filing Taxes Is Critical 29:15 CPP & OAS Payment Schedule and Direct Deposit Setup 32:00 How to Check Your Benefit Amounts Online 34:45 What to Do If Your Payment Amount Changed Unexpectedly 37:20 Protecting Your Retirement Income: Action Steps 40:10 Final Thoughts and Key Takeaways
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