Chris and Krista have been married for $35$ years and both will be turning $65$ at the end of

November $2023.$ Krista is the CEO of the company that she founded upon graduating from

university. This took enormous energy and travel time to run both Montreal and Toronto offices.

She delayed having children until she was $36$ years old $($twins Gerry and Mary who are now $29$

years old$).$ Chris and Krista have always lived in Quebec. Chris never worked and was a stay$-$at$-$

home dad, taking care of their two children growing up and now taking care of their grandchildren.

Chris and Krista need your help regarding the following questions. Highlight and underline the

correct response:

a$)$ Will Chris be eligible for Old Age Security $($OAS$)$ at age $65?$ Yes or No

b$)$ Will Chris be eligible for Quebec Pension Plan $($QPP$)$ at age $65?$ Yes or No

c$)$ Is Chris eligible to contribute to a Tax$-$Free Savings Account? Yes or No

d$)$ Is Chris eligible to contribute to a Registered Retirement Savings Account $($RRSP$)?$

Yes or No

e$)$ Krista had not decided when to retire but as they just bought a yacht, she is tempted to

retire now and sail throughout the Caribbean in December. Krista knows that she is eligible

to receive the maximum QPP at age $65$ and wants to know what the monthly amount would

be if she applied for her QPP pension benefit in $2023?$ Assume she is not part of the

enhanced plan for $2024.$ $

f$)$ Knowing that the OAS clawback threshold is $$90,997$ for $2024,$ how much would Krista

keep of her OAS if her retirement income, including her OAS pension for $2024$ was

$$130,000$ in total? Assume no deductions. The OAS clawback rate is $15\%$ and the

maximum monthly OAS amount at age $65$ is $$707\mathrm{.}68.$

Calculation: $(1$ mark$)$

g$)$ Krista's best friend, Anna, is also aged $65.$ In January $2024,$ it will have been $30$ years

since Anna moved to Canada from the United States. Anna knows the maximum monthly

OAS amount in $2024$ at age $65$ is $$707\mathrm{.}68$ but does not know how much monthly OAS she

would qualify for?