Monday, August 10, 2020

Non-resident and CPP & OAS

You can collect both CPP and OAS will living outside of Canada. To qualify for OAS you must have worked in Canada at least 20 years. Both CPP are taxable income. You can receive the full payment due to you or have a portion of your payment withheld to avoid having a large tax bill at reporting time.

In regard to receiving CPP and OAS when living outside Canada see the Canadian government website. One aspect to consider is having your payments deposited in the local currency:
Because your payments will have already been converted into the local currency of the country where you live, you should get a better exchange rate, and you might also pay lower banking fees for cashing your cheques.

To receive your payments directly in your local bank account, see if you live in a country that offers the service of direct deposit.
See the government website listing the countries that accept direct deposit of CPP and OAS into a local bank.