The effect of death of a spouse on the survivor’s income
Meet Maureen and Henry, a typical retired couple in their seventies. Both worked hard in their careers and can afford a comfortable retirement. Their retirement income derives from three sources: Henry’s company pension, their entitlement under government programs (Canada Pension Plan and Old Age Security) and their retirement savings. All together they have a gross income of nearly $95,000 a year and net income after taxes of about $81,000. Read more here.
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Published November 3, 2021.