Believe it or not, when it comes to senior citizen debt relief, many Canadians believe that they can comfortably retire on Canada Pension Plan (CPP) and Old Age Security (OAS) benefits alone. According to a 2014 Bank of Montreal study: 89% of Canadians said they expected CPP or the Quebec Pension Plan to fund part of their retirement 31% said they expected to rely heavily on their CPP/QPP Is expecting the government to fund your retirement realistic? No! Paul Shelestowsky, senior wealth adviser with Meridian Credit Union in Niagara-on-the-Lake, Ontario believes that Canadians are playing a dangerous game with their future by expecting the benefits to make up for meagre savings, let alone senior citizen debt relief. “CPP and OAS were never meant to form somebody’s retirement plan. They were meant to augment it and help as one of the pieces of the puzzle,” Mr. Shelestowsky says. Do you know how much you’d earn if CPP and OAS were your only sources of income in 2015? Your net inc
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