I am a Canadian citizen who at age 39 moved to the U.S. and obtained a Green Card. I have been working here in the U.S. for 18 years.
I worked in Canada up to when I moved to the U.S., so for 20 years.
I plan to retire at the age that makes most sense: a difficult determination it seems.
.. some time after 65 anyway... so in 8 years or more.
I am trying to figure out what my retirement benefits will be when I retire down the road.
Will I be eligable for Canada Pension (assume so), OAS (not sure), and SS (of course)? And how will receiving from each of these affect what I receive from the others?
And what would yield me more benefits: moving back to Canada and working my final years until retirement there or working unitl I retire in the U.S.?
Thanks.
CPP, SS, OAS - Canadian, U.S. resident.
Moderator: Mark T Serbinski CA CPA
You will get whatever CPP you are entitled to based solely on your contributions, no merging of history.
Same for SS.
You will be eligible for Medicare coverage.
You will get 21/40th of OAS, for the years between 18-39.
Your CPP history will reduce your SS by WEP.
Each of the above have calculaors at thevarious govt website to figure how much you will get and when.
All the above happen regardless of where you live.
If you stay and in US, your SS will grow.
If you move back to canada and work, your CPP will grow, and your OAS would of course increase based on more years in canada between now and 65.
When you retire, if you live in US, none of this gets taxed in canada, and OAS is not subject to clawback, but you will need alternate source of healtchare coverage.
If you retire in canada, none of the above will be taxed in US, but you will be subject to clawback. But you medical will be covered.
I'm exactly 6 years behind you, having left canada at the same age as you, so I'll tell you what I'm doing.
My SS will be MUCH more than CPP and OAS, and I will continue to work here until I retire, I see know point building up CPP/OAS in canada if I can build up SS. I am also building up 401(k), Roth and company pension.
When I retire I will consider moving back to Canada ,my son will just be starting College, so will go in Canada where it is still WAY cheaper.
Whether we move to Canada or just accross border will depend on health.
Same for SS.
You will be eligible for Medicare coverage.
You will get 21/40th of OAS, for the years between 18-39.
Your CPP history will reduce your SS by WEP.
Each of the above have calculaors at thevarious govt website to figure how much you will get and when.
All the above happen regardless of where you live.
If you stay and in US, your SS will grow.
If you move back to canada and work, your CPP will grow, and your OAS would of course increase based on more years in canada between now and 65.
When you retire, if you live in US, none of this gets taxed in canada, and OAS is not subject to clawback, but you will need alternate source of healtchare coverage.
If you retire in canada, none of the above will be taxed in US, but you will be subject to clawback. But you medical will be covered.
I'm exactly 6 years behind you, having left canada at the same age as you, so I'll tell you what I'm doing.
My SS will be MUCH more than CPP and OAS, and I will continue to work here until I retire, I see know point building up CPP/OAS in canada if I can build up SS. I am also building up 401(k), Roth and company pension.
When I retire I will consider moving back to Canada ,my son will just be starting College, so will go in Canada where it is still WAY cheaper.
Whether we move to Canada or just accross border will depend on health.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 
nelsona,
Thank you for the information that I could not seem to find in my searches elsewhere.
It appears that I should follow the same plan, as SS will certainly be much more than CPP and OAS for me. (Just checked my account on Services Canada on what I would get for CPP). Healthcare costs is a concern, so moving back to Canada at retirement might make sense for my wife and I for that reason alone.
We have two young ones. I'll be encouraging them to attend university in Canada, unless they manage to get decent scholarships down here.
Thank you for the information that I could not seem to find in my searches elsewhere.
It appears that I should follow the same plan, as SS will certainly be much more than CPP and OAS for me. (Just checked my account on Services Canada on what I would get for CPP). Healthcare costs is a concern, so moving back to Canada at retirement might make sense for my wife and I for that reason alone.
We have two young ones. I'll be encouraging them to attend university in Canada, unless they manage to get decent scholarships down here.