Your ‘My Service Canada’ account is where you can access information and services from Service Canada, which includes Employment Insurance and your Canada Pension Plan benefits.
Have you ever wondered what you can expect to receive in retirement from the Canada Pension Plan?
The easiest way is to check online by accessing your My Service Canada account. And the easiest way to set up your account is to register online and create a “GKey”. (To sign up, follow this link and click the ‘Sign Up’ button at the right.
Your GKey is basically a username and password that secures your online profile with the Government of Canada. If you’ve ever set up your online profile with myCRA, then you might already have one. In fact, if you can log into your myCRA account, then you can access your ‘My Service Canada’ account from within the CRA portal. (See our previous blog on setting up your MyCRA account.)
Once you’ve successfully setup your GKey, you will be able to log into your My Service Canada account and access important information. From a financial planning perspective, you can see what you’ve contributed to the CPP program and get an estimate of what you can expect o receive as a monthly benefit in retirement.
This is an important number for us to know when developing a retirement plan for clients. And so we recommend to all our clients that they register for a GKey and investigate what Service Canada estimates they might receive as a monthly CPP benefit in retirement.