I Will Renounce My Canadian Citizenship In 2.5 Years

[Renegade Quark]

Isn't chewing gum banned in Singapore?

[JOE]

Isn't chewing gum banned in Singapore?

[Shen Li]

I've never seen such interest in my retirement income from people that know me let alone strangers on an obscure forum.

Since it is on the table and some of you are nosy as fuck, I will tell you what you want to know. Singapore's self-directed benefits are superior to Canada's. They are better for citizens than they are for permanent SG residents. I would lose some benefits, most importantly from my employer if I do not become a Singapore citizen.

I will get a private pension from Canada when I turn 55. That cannot be touched until then.

I only paid into CPP from the age of 23-39. I looked at the online calculator of what I would be eligible for at age 60 which is the earliest you can collect it, and it was low-like $370/month. And despite the post above, unlike OAS and GIS, citizenship status does not affect CPP. It's our money and it cannot be revoked. It can be paid out no matter where you live in the world regardless of your status in Canada. Not that I give a fuck, it's not going to support me when I'm old.

OAS you have to have lived in Canada for 20 years from the age of 18 to collect it if you live abroad. I never looked into how renouncing my Canadian citizenship affects because I don't care. It's only about $700/month. I will get more from my Singapore Provident Fund, my RRSP's which I can cash out tax free when I renounce my CDN citizenship and my private pension from Canada.

GIS you have to live in Canada and have a low income to collect it. It doesn't pay very much either but helps poor Canadians living in that third world dumpster buy an extra box or 2 of Kraft Dinner each week.

Enjoy your impoverished frozen hellhole.

[Shen Li]

Isn't chewing gum banned in Singapore?

myth

[Shen Li]

Canada is desperate for suckers and Singapore is not

Are they ever. The federal government can't get them in and on welfare fast enough. It forces more Canadians to sleep in cardboard boxes outside in the cold, but Ottawa doesn't care.

[DKG]

I've never seen such interest in my retirement income from people that know me let alone strangers on an obscure forum.

Since it is on the table and some of you are nosy as fuck, I will tell you what you want to know. Singapore's self-directed benefits are superior to Canada's. They are better for citizens than they are for permanent SG residents. I would lose some benefits, most importantly from my employer if I do not become a Singapore citizen.

I will get a private pension from Canada when I turn 55. That cannot be touched until then.

I only paid into CPP from the age of 23-39. I looked at the online calculator of what I would be eligible for at age 60 which is the earliest you can collect it, and it was low-like $370/month. And despite the post above, unlike OAS and GIS, citizenship status does not affect CPP. It's our money and it cannot be revoked. It can be paid out no matter where you live in the world regardless of your status in Canada. Not that I give a fuck, it's not going to support me when I'm old.

OAS you have to have lived in Canada for 20 years from the age of 18 to collect it if you live abroad. I never looked into how renouncing my Canadian citizenship affects because I don't care. It's only about $700/month. I will get more from my Singapore Provident Fund, my RRSP's which I can cash out tax free when I renounce my CDN citizenship and my private pension from Canada.

GIS you have to live in Canada and have a low income to collect it. It doesn't pay very much either but helps poor Canadians living in that third world dumpster buy an extra box or 2 of Kraft Dinner each week.

Enjoy your impoverished frozen hellhole.

Yes, I think I can guess who the nosy person is.

I have only known anybody who renounced Canadian citizenship. But, I have clients who live abroad. While OAS has rules regarding residency and GIS is only for people in Canada, CPP belongs to the people who pay into it. It cannot be taken away and their are no restrictions on residency.

But, like you said it is a terrible return considering what we are are forced to pay into it. I plan to retire and live in Florida in about five years. If I collect CPP at age sixty five my projected earnings are less than $900 a month. What a joke.