As of October 1, Service Canada is putting new tools online to help Quebecers plan and make the most of their retirement.
Here are two of the new online services the government has unveiled:
• Center for Retirement Provision
This tool helps with retirement planning as well as applying for and receiving retirement benefits. To complete the questionnaire, which Service Canada says takes about three minutes, you will need your legal status, residency history, marital status and retirement plan.
• An improved version of the pension insurance benefit estimator
This version of the estimator includes new features, including estimates for spouses, partial retirement benefits and additional Guaranteed Income Supplement payments, Service Canada reminded in a news release posted on its website on Sunday.
This questionnaire, which takes between five and ten minutes, requires you to provide your age, net income, legal status, marital history and, if applicable, your spouse.
“Canadians seeking information about government services should have an easy, stress-free experience. […] Retirement Hub and Old Age Security Benefits Estimator are just two of the online services we use to make access as easy as possible for seniors and all Canadians across the country,” said Terry Beech, Minister of Citizen Services.
The University of Sherbrooke’s School of Management has also set up a simulator to support a new study, allowing it to determine the best time to start its services.
After selecting the desired parameters, such as your retirement age or the desired age for starting social benefits, the simulator calculates the savings required to achieve the desired pension level.