WHAT HAPPENS to CPP and OAS when a SPOUSE DIES?

When a spouse passes away, navigating the financial aftermath can be overwhelming, especially when it comes to understanding how your Canada Pension Plan (CPP) and Old Age Security (OAS) benefits will be affected. In this video, Joe Macek, a Cross Border Investment Advisor and portfolio manager with iA Private Wealth and iA Private Wealth USA, walks you through the crucial details of what happens to your CPP and OAS benefits when a spouse dies. From survivor pensions to child benefits, we’ll explore all the key aspects that can impact your financial security during such a difficult time.

Joe breaks down the three main components of CPP death benefits: the death benefit, the child benefit, and the survivor’s pension. He explains how these benefits are calculated, who is eligible, and what steps you need to take to ensure you receive the support you’re entitled to. Whether you’re concerned about covering funeral expenses or ensuring your children’s financial stability, this video will provide the clarity you need.

In addition to CPP, we’ll also cover the Old Age Security (OAS) program’s Allowance for the Survivor, which offers financial support to surviving spouses or common-law partners between the ages of 60 and 64. Joe explains the eligibility criteria, including income limits and the maximum monthly payment you can receive. This is vital information for those who are relying on these benefits to bridge the gap until they qualify for OAS at 65.

Understanding these benefits and acting quickly can make a significant difference in your financial well-being after the loss of a spouse. Joe also offers tips on how to apply for these benefits without delay, emphasizing the importance of accuracy and timing to avoid any potential loss of benefits. Be sure to watch the entire video to fully understand how to protect your financial future during a challenging time. Don’t forget to like, subscribe, and share this important information with anyone who might need it.

If you would like a personal one-on-one consultation, please contact me here:
https://joemacek.com/contact-us/

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