this post was submitted on 06 Apr 2024
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Yup, the article suggests her rent is ~$1,700:
Ah, I missed understood that.
Does she not also get the Guaranteed Income Supplement? She certainly qualifies based on her age and income <$21,000 a year. That would get her an extra $1000 a month.
I might also be wrong about this, but doesn't that majorly screw you over? To collect your pension before 65?
Yeah, I wish the article had more details about her situation. I don't know when she's talking about her "pension" if she's talking about her total income, her QPP (maybe including her OAS & GIS?), her private pension, or something else.
This articles lays it out pretty well. It's highly dependent on your personal situation, how long you think you'll live. I do question her choice to start collecting at 60, but we don't have enough info to judge if this was financially prudent, short-sighted, or just desperate.