4% - Sunday. October 19, 1986 - North Shore News ‘RETIREMENT PLANNING SOME IMMIGRANTS from Britain who have come to Canada since World War II still do not realize that they may be eligible for a British Old Age Pension. By BERT WICKHAM Contributing Writer Women who qualify can get a pension as early as age 60. For men the earliest agé is 65. In many cases this income will be entirely tax-free, Many of us Canadians who came to this country during the last 40 years will have worked in Britain or the armed forces. These years of employment and service all court and, in most cases, all we have to do is write to England to activate our file. If you haven’t already done so, drop a line to: Department of Health & Social Security, Overseas Branch, Longbenton, Newcastle Upon Tyne, England NE98 1YX, and give them as much informa- tion as you can — your full name (including your maiden name if you have married), date and place of birth, service number, fast place of employment, etc. In some cases **War Brides’’ also qualify. » You may, if you wish, increase the size of your pension entitle- ment by making annua! contribu- tions and you may also ‘‘catch up”’ on arrears of contributions for the past one or two years. Either of these methods of enhancing your pension are a good deal and are highly recommended. Furthermore, if you should decide to return to Britain after retirement, your status as an old age pensioner will qualify you for many more ‘‘goodies’’ You must cease work to qualify for the pension at age 60 or 65. If you work: beyond that age, you will qualify when you cease work- ing or at age 71. Although the pension is considered taxable in- come in Canada, it qualifies for the pension income deduction which means the first $1,000 could be received tax-free. If you are already getting this deduction, then the excess could still be rolled-over into an RRSP and be sheltered from current taxation. So, if you worked in Britain or served in the forces at any time be- fore coming to Canada, write to Newcastle. There may be good news waiting for you! se Bert Wickham is one of B.C.'s foremost authorities on financial planning for retirement. This series of articles is designed to help you make the most of your income ia retirement and keep your taxes to the legal minimum. However, as they are of a general nature, readers are advised fo check carefully before applying them to their personal situations. SALES & SERVICE .- . 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