Pre-Retirement & Transition Planning
Strategic planning for ages 55-65 transitioning to retirement
Critical Decisions for Your Retirement Transition
The final decade before retirement requires strategic decisions about CPP/OAS timing, pension options, RRIF conversions, estate planning, and lifestyle transitions. These choices significantly impact your retirement income security and legacy planning. Our specialized guidance helps pre-retirees (ages 55-65) navigate complex financial decisions during this critical transition period.
Key Pre-Retirement Milestones (Ages 55-65)
Age 55
- • Earliest age to access most pension plans without penalty
- • Consider phased retirement options with employer
- • Review estate planning documents and update beneficiaries
- • Assess insurance coverage and long-term care needs
Age 60
- • Earliest age to start receiving reduced CPP benefits
- • Finalize retirement income projections and timeline
- • Develop RRSP-to-RRIF conversion strategy
- • Consider downsizing or home equity extraction plans
Age 65
- • Standard CPP eligibility age for full benefits
- • Old Age Security (OAS) payments begin
- • Enroll in provincial health coverage supplements
- • Register for federal seniors' benefits and credits
Age 71 (End of Transition)
- • Mandatory RRSP-to-RRIF conversion deadline (by Dec 31)
- • Begin mandatory minimum RRIF withdrawals
- • Finalize long-term tax optimization strategy
- • Implement estate and legacy planning structures
Explore Other Topics
Discover more resources for your financial journey
Scroll to see more categories
Navigate Your Retirement Transition with Confidence
The decade before retirement requires critical decisions about CPP timing, pension options, and estate planning.
Schedule a consultation to create your personalized pre-retirement transition strategy.