EP # 163 | The 5.5 Guaranteed Retirement Income Sources Every Canadian Should Understand

In this episode of Your Retirement Planning Simplified, Joe breaks down the five and a half guaranteed retirement income sources every Canadian should understand—from CPP and OAS to pensions and annuities. Learn how to build a dependable retirement income floor so you can retire with confidence and weather any market conditions.     Key Takeaways from this Episode Defined Benefit Pensions – A disappearing but powerful guaranteed income source, backed by employers or plan sponsors. Know your plan's funding health and inflation protection. Canada Pension Plan (CPP) – One of the most reliable lifetime income streams. Delaying CPP can act as "longevity insurance," boosting payments by 8.4% per year after age 65. Old Age Security (OAS) – Government-funded and guaranteed, but subject to clawbacks for higher-income retirees — making tax-efficient withdrawal strategies critical. Annuities – Think of these as "do-it-yourself pensions." You exchange a lump sum for guaranteed lifetime income, ideal for those who value simplicity and peace of mind. Guaranteed Minimum Withdrawal Benefits (GMWBs) – Hybrid investment-insurance products that can provide guaranteed income while keeping you invested, though often with complexity and higher fees. Bonus ("Half") Sources: GIS for lower-income retirees and rental income, which may feel stable, but lacks a true guarantee.     Ready to take the next step?  Identify your retirement income style with the RISA questionnaire at  https://account.myrisaprofile.com/invitation-link/88QG1TMQ12     Want a retirement plan that adapts as your life evolves? Discover our True Wealth Roadmap — a step-by-step process to align your finances with your ideal retirement. Learn more at https://matthewsandassociates.ca/our-process/  Don't forget to like, comment, and subscribe for more simplified retirement planning insights! ABOUT JOE  CURRY Joseph Curry, also known as Joe, is the host of Your Retirement Planning Simplified, Canada's fastest-growing retirement planning podcast, where he provides accessible, in-depth financial advice. As the owner and lead financial planner at Matthews + Associates in Peterborough, Ontario, he is committed to helping people secure both financial stability and purpose in retirement. His mission is to ensure people can sleep soundly knowing they have a solid plan in place, covering both financial and lifestyle aspects of retirement. A Certified Financial Planner and Certified Exit Planning Advisor, he values true wealth as more than money—it's about creating meaningful experiences with loved ones and fostering opportunities for the future.  You can reach out to Joe through: LinkedIn: https://www.linkedin.com/in/curryjoe Website: https://www.retirementplanningsimplified.ca/   https://www.facebook.com/RetirementPlanningSimplified/                https://matthewsandassociates.ca/      ABOUT RETIREMENT PLANNING SIMPLIFIED Founded in 2022, its mission is to empower people to plan for retirement confidently, focusing not only on finances but also on a meaningful life. RPS wants everyone to have access to simple, reliable tools that reflect their values and priorities, helping them create True Wealth—the freedom to do what they love with those they love. By simplifying retirement planning and aligning it with the retiree's purpose, RPS aims to support building a retirement that feels fulfilling and secure. To know more about RPS you can visit the links below: LinkedIn: https://www.linkedin.com/company/retirement-planning-simplified/ Instagram: https://www.instagram.com/retirement_planning_simplified Podcast/Blog: https://www.retirementplanningsimplified.ca/blog Youtube: https://www.youtube.com/@retirementplanningsimplified         DISCLAIMER Opinions expressed are those of Joseph Curry, a registrant of Aligned Capital Partners Inc. (ACPI), and may not necessarily be those of ACPI. This video is for informational purposes only and not intended to be personalized investment advice. The views expressed are opinions of Joseph Curry and may not necessarily be those of ACPI. Content is prepared for general circulation and information contained does not constitute an offer or solicitation to buy or sell any investment fund, security or other product or service.  

There are no comments yet.

Please log in to write the first comment.