Retirement

Baby Boomer Generation- Getting Ready to Retire

Retirement – Getting Ready to Retire

Are you getting ready to retire? There are some things you need to know:

  • You need to apply at least six months prior to retirement for most government pensions.
  • You will need original copies of identification documents to apply for pensions and services
  • The retirement income system in Canada has three levels.

 

  • First level – the Old Age Security Program

The Old Age Security Program is funded through general tax revenues. It provides a basic monthly pension to more than 95% of Canadian seniors.

  • Second level – the Canada Pension Plan

The Canada Pension Plan is funded through contributions by Canadian workers and their employers as well as the earnings on the investment of the Plan’s funds. The Plan provides retirement pensions, disability benefits, survivor benefits and benefits for children.

  • Third level – private savings

Private savings include employer-sponsored pension plans, Registered Retirement Savings Plans (RRSPs) and other private savings.

For additional information regarding:

  • Getting Ready to Retire
  • Financial and Support Services
  • Governments Programs and Services
  • Other Resources
    • Public Health Agency of Canada
    • Ontario Seniors’ Secretariat – Information for Seniors

Please click on http://www.ontario.ca/en/life_events/retire/004439

Retirement

RETIREMENT SURVEY

DO YOU FIND YOU ARE FINANCIALLY PREPARED FOR RETIREMENT






WHICH BEST FITS YOUR OVERALL CONTENTMENT IN REGARDS TO RETIREMENT





DO YOU PLAN TO WORK IN ANY CAPACITY AFTER YOU RETIRE?





DO YOU OFTEN DISCUSS RETIREMENT WITH FAMILY AND CO WORKERS?



DO YOU NEED MORE INFORMATION TO HELP YOU PLAN YOUR RETIREMENT





Retirement

Boomers Social and Recreation

Social and Recreational

  • ¬†Boomers need to interact with boomers and other people and to further skills
  • This category of needs and is affected by transportation, accessibility and housing circumstances. Experts agree that a lack of recreational activities can lead to declining physical health, and a lack of social activities can lead to isolation and declining mental health.
  • Many outlets for social and recreational include formal recreation centres as well as identified gathering points such as libraries, community centres and legion halls.
  • Faith-based organizations, particularly the traditional churches, have high concentrations of boomers active in committees and events.
  • Boomers in retirement homes and long-term care homes have access to in-house social and recreational programming but often drop their ties to community recreation when they enter a long-term care home.
  • Many boomers have a low level of knowledge about the full range of social and recreational options that are in fact available to them.