Canada Pension Plan - CPP
- Canada Pension Plan - CPP
- One of three levels of Canada's retirement income system, which is responsible for paying retirement or disability benefits. The Canada Pension Plan was established in 1966 to provide a basic benefits package for retirees and disabled contributors. If the recipient dies, survivors receive the plan's provided benefits.
The CPP pays a monthly amount, which is designed to replace about 25% of the contributor's earnings on which initial contributions were based, and is indexed to the Consumer Price Index.
There are several rules governing the amount an individual will receive upon retirement or disability. This amount is based on the person's age and how much he or she contributed to CPP while working. CPP benefits are considered taxable income. This is why some households elect to share the income, which can reduce taxes.
CPP is roughly equivalent to the U.S. Social Security program. People residing in Quebec contribute to and receive the Quebec Pension Plan (QPP), not the CPP.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Canada Pension Plan / Old Age Security Review Tribunals — are independent and mandated to hear [http://www.ocrt.gc.ca/aapsap/index eng.html appeals] of decisions made by Social Development Canada (SDC) on benefits under the Canada Pension Plan (CPP) and Old Age Security Act. (OAS). Each appeal is heard… … Wikipedia
Canada Pension Plan — The Canada Pension Plan (CPP) is a contributory, earnings related social insurance program. It forms one of the two major components of Canada s public retirement income system, the other component being Old Age Security (OAS). Other parts of… … Wikipedia
CPP Investment Board — Under the direction of the then Canadian Finance Minister Paul Martin, the CPP Investment Board was created in 1997 as an organization independent of the government to monitor and invest the funds held by the Canada Pension Plan (CPP). In turn,… … Wikipedia
CPP — and cpp may refer to: Contents 1 Companies 2 Political parties and organizations 3 Science, technology and machine … Wikipedia
CPP — Canada Pension Plan (Business » General) ** Cerebral perfusion pressure (Medical » Physiology) ** Calling Party Pays (Computing » Telecom) ** Certified Protection Professional (Business » Positions) * C Plus Plus (Computing » General) * Critical… … Abbreviations dictionary
Pension — This article is about the retirement income arrangement. For the type of lodging, see Pension (lodging). For the mortgage repayment scheme, see Mortgage loan. Financial market participants … Wikipedia
Canada–New Zealand relations — Canadian–New Zealand relations Canada … Wikipedia
1967 in Canada — See also: 1966 in Canada, other events of 1967, 1968 in Canada and the Timeline of Canadian history.1967 is remembered as one of the most notable years in Canada. It was Canada s centenary and celebrations were held throughout the nation. The… … Wikipedia
Income taxes in Canada — constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada. In the last fiscal year, the government collected roughly three times more personal income taxes than it did corporate… … Wikipedia
Same-sex marriage in Canada — Legal recognition of same sex relationships Marriage Argentina Belgium Canada Iceland Netherlands Norway Portugal South Africa Spain Sweden … Wikipedia
