Retiring With A Pension? This One Decision Can Change Everything (Ep 061)

Work with our team: https://www.parallelwealth.com/planning On episode 61 of Retirement Unpacked, Gord Manzer and Steven Arnott discuss the key factors when deciding between taking the defined benefit pension or its commuted value, how OAS and OAS clawback fit into your overall taxable income, whether it makes sense to unlock your locked-in account before retirement, should you delay OAS to do a larger RRSP meltdown, and much more. Later in the episode, Mathieu Huneault joins the show to discuss tax-loss harvesting, when it may make sense, and some important cautions to keep in mind. If you have any questions about this video's topic or retirement planning in general, visit https://www.parallelwealth.com/ or use the links below to learn more about our services: ➡️Fee For Service Retirement Planning: https://www.parallelwealth.com/planning ➡️Retirement Income Program™: https://www.parallelwealth.com/invest... ➡️Parallel Wealth Masterclass: https://www.parallelwealth.com/education More from Parallel Wealth: 🔗https://linktr.ee/parallelwealth The above affiliate links are provided for your convenience. If you click on a link and end up purchasing a product or service, this channel may receive compensation for the referral. We have personal vetted each product and service we provide links to. DISCLAIMER: This presentation is for informational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments carry risk, and past performance does not guarantee future results. Any forward-looking statements are based on assumptions and may not reflect actual outcomes. The content on this channel is for educational purposes only and does not provide specific investment or planning recommendations. Viewers should consult a qualified professional for retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for any decisions made based on this content. TIMESTAMPS 0:00 Intro 0:40 Monthly payments vs. commuted value: What's the best option? 7:54 How does OAS clawback affect your taxable income? 12:32 Should you unlock your locked-in RRSP before retiring? 18:35 Delaying CPP: What happens if one spouse dies early? 24:29 Which jurisdictions allow you to base LIF maximum on last year's returns? 29:00 How CPP survivor benefit fits into your own CPP calculation 32:46 When does it make sense to contribute to an RRSP in retirement? 36:44 RRSP vs. TFSA contributions when you're close to retirement 40:54 Should you delay OAS to do a larger RRSP meltdown? 43:21 Tax-loss harvesting at year end 48:05 Should you contribute to RRSP if you have a pension?