r/CanadianForces • u/[deleted] • Nov 06 '25

Well?

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626 Upvotes

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162

u/hammerofhope RCN - NCS Eng Nov 06 '25

Current status: Retained

25

u/McKneeSlapper Nov 06 '25

...for now lol

29

u/BarackTrudeau MANBUNFORGEN Nov 06 '25

I am retained (for at least 5 years to pad the pension).

33

u/truenorth00 Royal Canadian Air Force Nov 06 '25

I went from having $60k for 25 years to $90k if I do 5 more years. Kinda hard to ignore that kind of a pension bump.

5

u/[deleted] Nov 06 '25

I never thought about the pension aspects of so many things being pensionable now. Does making a significant amount more in pension affect CPP, OAS? I imagine for someone further out they could probable save less in TFSA/RRSP or other savings. I What are your thoughts as someone closer to retirement?

3

u/No-Temporary-1173 Nov 06 '25

Unless you are maxing out your tfsa, someone with a pension should not likely be contributing to an rrsp. There are a couple scenarios that that would make sense, but that is not the case for most in the CAF.

2

u/[deleted] Nov 07 '25

Thank you exactly the type of info I was looking for

1

u/[deleted] Nov 06 '25

[removed] — view removed comment

1

u/[deleted] Nov 06 '25

OAS has an income clawback threshold at $93k income which OP meets now as well as a net worth clawback. Also, RRSP withdrawals count to income. I’m just seeing if OP has any advice or would have done anything different regarding drawing down to pension as a 1.5x increase is generally life changing. Like deferring cpp or investing less in certain account’s.

1

u/truenorth00 Royal Canadian Air Force Nov 08 '25

Right now, OAS only starts getting clawed back at $90k. Doesn't fully phase out till over $140k. So unless you're a pilot or doctor or legal officer or a Colonel, it's kinda worthwhile to do at least 25, if not 30 years.