What is the earliest age I can collect Pension Benefits?
The earliest age that a participant can collect Pension Benefits is age 50 unless you have attained 25 Benefit Years or 30 Vested Years of service. In those cases, you may begin to collect your accrued Pension Benefit at any age after you leave Covered Employment and are not employed in suspendible employment for more than 64 hours in a calendar month.
- If pension holder starts receiving benefits at age 58 instead of 62 and the monthly benefit is reduced in to $600 from $1200. What would happen to the present value of the benefit?
- I found I am eligible to apply for Canadian benefits (Canada Pension Plan, Old Age Pension, Social Security, etc.). How can I do that?
- If the pension holder started receiving benefits at age 60 instead of 62 would the present value be higher or lower?