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As noted in the 27th Actuarial Report on the Canada Pension Plan, if one uses the "closed group approach", the plan has an enormous unfunded liability. As of December 31, 2015, the CPP's unfunded liability was $884 billion, which is the difference between its liabilities ($1.169 trillion) and its assets ($285 billion). [16]
Old Age Security (OAS) is a monthly payment available to qualifying citizens and permanent residents of Canada who are 65 years old and older. Authorized by Section 94A of the Constitution Act of 1867, [ 1 ] the program is defined by the Old Age Security Act (R.S.C., 1985, c. O-9). [ 2 ]
The question before the Supreme Court was "whether ss. 44(1)(d) and 58 of the Canada Pension Plan infringe s. 15(1) of the Charter on the ground that they discriminate on the basis of age against widows and widowers under the age of 35, and if so, whether this infringement is demonstrably justified in a free and democratic society under s. 1".
The Canada Pension Plan (CPP) forms the backbone of Canada's national retirement income system. All those employed aged 18 or older (and their employers) must contribute a portion of their income (matched by their employers) into the CPP or, for Quebec residents, the Quebec Pension Plan (QPP).
Canada's demographic landscape has undergone a profound transformation in recent decades, marked by a notable shift in age distribution. [4] The proportion of seniors, defined as individuals aged 65 and over, has surpassed that of children under 15, signaling a significant demographic shift. [3]
The most notable change to Social Security benefits in 2025 should be good news. All current recipients will receive a boost to their monthly benefit thanks to the Social Security cost-of-living ...
The Live-In Caregiver Program (LCP, French: Programme des aides familiaux résidants) was an immigration program offered and administered by the government of Canada and was the primary means by which foreign caregivers could come to Canada as eldercare, special needs, and childcare providers. The program ended on November 30, 2014, and a ...
Average mortgage rates tick lower across popular terms as of Tuesday, December 17, 2024, with the Federal Reserve set to begin its final rate-setting session of the year.Traders expect the Fed ...