To any BC teachers who have returned home or those that are better researched than me. Is it possible to make up missing years of CPP when you return to Canada? Is there a limit to how many years that can be made up? How long do you have to return for before you can do this?
Yes, you can buy back previous missed years of contributions but remember you have to buy not only your portion but also the employer's portion as well. I found this too be too much in my case. I don't know if there is a maximum number of years you can buy back.
Honestly? Invest in rental property and get a good property manager. We generate 2000 a month out of our property - and we generate it now, not at age 65...plus, we can sell the property down the road and not worry if the market is high or low, because someone else bought it for us via rent!
Hmm, I guess I should look into the numbers. I already pay UK national insurance, which gets me a full pension. It may not be much, but it is a very good deal as an expat. Perhaps the deal in Canada is not so great.
Yes, property will also be part of the plan eventually.
