Is it possible to get your Canadian pension plan money at an early age? I heard this is possible.?

Question

I heard it's possible as long as you don't make $12 grand from in the six months from when you apply.

Answer 1

There are several forms of CPP payouts.

Survivor's benefits.   Spouse or child

Disability benefits.  They have really clamped down on this in recent years.

Age benefits The earliest you can collect is 60 if you have substantially stopped working.  However there is one half a per cent a month penalty for every month you are under 65.  

I think you should concentrate on improving your earning status.  Apprenticeship, courses.  See if Canada Manpower can make any suggestions.  

Answer 2

Depends on how early of the age you are.  If it is for disability or just the regular pension for seniors.  

Answer 3

You've been misinformed. The earliest you could collect a retirement pension from CPP is the month after you turn 60. Before that, you could collect survivor's benefits if your spouse dies, child benefits if your parent dies (you're too old for this one), or disability benefits if you have a note from God.

You're need for the money makes no difference to CPP. They don't have any provision for giving money to people who need it, no matter what the reason.

Answer 4

I think you heard it wrong.  The fact that you are 25 yrs old earning less than 12K or in need of money does not make you entitled to CPP payment,  The earliest one can get the CPP is at age 60, if he or she has contributed into CPP before.

You qualify for a CPP retirement pension if you have made at least one valid contribution (payment) to the Plan and if:

you are at least 65; or

you are between 60 and 64, and meet the earning requirements set out in the legislation.



Here is the reference link  http://www.hrsdc.gc.ca/en/isp/pub/factsh...