The boomers are coming

According to the United Nations, population of older persons is increasing at a rate of 2.6% per year, outstripping the 1.2% growth rate of the general population; the proportion of people aged 60 and older increased from 8% in 1950 to 11% in 2009, and is expected to climb to 22% by 2050.1 The growing number of older persons is partly attributable to the remarkable economic, medical and technologi [...] As noted by the authors in the Overview to the Advisory Guidelines at section 3.4.3, the formulas are meant to apply to the majority of cases but they are never binding and departures are always possible on a case-by-case basis where the formula outcomes are found to be inappropriate. [...] Where benefits relate to the death of a person, the couple must have been living together at the time of the person’s passing.24 “Separation” The CRA deems separation to have occurred where spouses or common- law partners have lived separate and apart for 90 days or more without reconciling.25 Once the 90-day period has passed, the effective date of the parties’ separation is the date they began t [...] An eligible surviving spouse is the married spouse of a deceased contributor or the common-law partner of the contributor, providing that the partners were not separated at the time of the contributor’s death.42 35 Canada Pension Plan, s. 46. [...] Spouses may apply on the making of a divorce order or a declaration of nullity, or earlier upon the first anniversary of their separation;47 common-law partners may apply upon the first anniversary of their separation and must apply within four years of separation, following which the former partner’s consent is required.48 The splitting of CPP credits is mandatory upon the application of a spouse