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pensi What is the total amount they have to repay in 2020?

pensi What is the total amount they have to repay in 2020?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Malcolm knows about the Old Age Security (OAS) pension clawback but is unsure how to calculate if for him and his wife. In 2020, the OAS pension is clawbacked or reduced by 15% above $79,054. Malcolm and his wife are both receiving monthly pensions of $613.54. His net income is $130,000 while his wife's net income is $85,000. What is the total amount they have to repay in 2020? Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,054 $8,254 $14,725 $892 $13,833 $7,362 $128,137
Transcribed Image Text:Malcolm knows about the Old Age Security (OAS) pension clawback but is unsure how to calculate if for him and his wife. In 2020, the OAS pension is clawbacked or reduced by 15% above $79,054. Malcolm and his wife are both receiving monthly pensions of $613.54. His net income is $130,000 while his wife's net income is $85,000. What is the total amount they have to repay in 2020? Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,054 $8,254 $14,725 $892 $13,833 $7,362 $128,137
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