Pension clawback involves cutting a former employee's company pension on the grounds that they also receive the State Pension. If you have a defined benefit workplace pension, you may be affected by pension clawback.
How do you avoid OAS clawbacks?
Strategies to Avoid OAS Clawbacks
- Defer OAS. ...
- Maximize TFSA Each Year. ...
- Income Splitting. ...
- Avoid More RRSP Contributions (In Some Cases) ...
- Drawdown RRSPs Before Starting OAS. ...
- Type Of Investment Income. ...
- Plan Large Capital Sales (Cottage, Vacation Home, Stocks etc)
Can I reclaim my pension contributions?
If you leave your pension scheme within two years of joining, you might be able to get your contributions refunded. ... It's worth being aware that if you do this, you won't have any pension savings from this time. If you've contributed more than your earnings you might also be able to get a refund.
