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Canada Pension

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Lee2:

--- Quote from: \"kentech\" post=46804 ---Thanks for the info! I read a lot on the Canada.gc.ca web on the weekend and the one thing thing I was looking for there was, what if I don\'t plan on returning to Canada. I am in Ontario and as far as I can see, I will just loose OHIP. I am hoping to retire there when I turn 60 in 3 years! I have had enough of fixing cars for the past 40 years.
    Ken
--- End quote ---


Ken one thing I can tell you is slow and steady.

My advice would be to leave the money deposited in Canada at the beginning and make a test move to the Philippines for a year or more when you retire and see if you are happy and where you will end up living and then if it all works out, then you can always have the money deposited locally.

In three years many things can change. Right now not every area has all banks, also living in the Philippines is not for everyone and a lot can change in those 3 years. For instance the peso exchange rate could go so against us that the cost of living might be higher than moving somewhere else in Canada to live, or infrastructure and some living conditions in the area you wish to live might improve significantly or become unstable. I remember 21 years ago when I was planning the move and then 18 years ago when I spent some time in Mindanao and decided to wait.

The Philippines is a neat country and with many great areas to explore to decide where one wants to live, so find a base and then work out from there until you find your own paradise or find the dream is not a reality.

Art, just a re(tired) Fil-Am:

--- Quote from: \"kentech\" post=46804 ---Thanks for the info! I read a lot on the Canada.gc.ca web on the weekend and the one thing thing I was looking for there was, what if I don\'t plan on returning to Canada. I am in Ontario and as far as I can see, I will just loose OHIP. I am hoping to retire there when I turn 60 in 3 years! I have had enough of fixing cars for the past 40 years.
    Ken
--- End quote ---

Yeah, some countries are like that where if one leaves their home country for a certain length of time, they loose certain benefits from their home country!
My wife and I have lived permanently here in the Philippines since 1998 and we don\'t loose any of our home country\'s benefits, except maybe for some, their Medicare benefits when living abroad in certain countries like here in the RP, but we still have my U.S. government pensions direct deposited into our U.S. bank and maintain a U.S. and our overseas mailing address at all times with U.S. government agencies where my pensions come from and for the purpose of filing our annual joint Federal income tax!

kentech:
in canada if one is fully retired a tax return is not required.

Art, just a re(tired) Fil-Am:

--- Quote from: \"kentech\" post=46811 ---in canada if one is fully retired a tax return is not required.
--- End quote ---

That also holds true in the U.S. only when retirees are 70 yrs old and over!
The U.S. government just like to stick it to us for as long as they can get away with it!
They\'re even considering to increase the minimum retirement age for Social Security benefits! They\'re betting on that we will all die before we can collect Social Security benefits!  :whistle:  :ohmy:
Luckily, I\'m already collecting all of my U.S. government pensions and benefits and hope to live way beyond the age of 70, a 100 will do!  :)

starrt:
\"Thanks for the info! I read a lot on the Canada.gc.ca web on the weekend and the one thing thing I was looking for there was, what if I don\'t plan on returning to Canada. I am in Ontario and as far as I can see, I will just loose OHIP.\"

Hi Ken,

OHIP is administered by the provincial gov\'t, so you would have to look on their web site, but yes, probably as a non resident after 3 or 6 months, as in most provinces, you would have to find your own health plan to cover your medical expenses. You would still need a supplemental health insurance coverage even if you planned to travel across our own country. So travelling internationally, of course you would need another health insurance to cover you.

Thomas

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