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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).
The Canada Pension Plan (CPP; French: Régime de pensions du Canada) is a contributory, earnings-related social insurance program. It is one of the two major components of Canada 's public retirement income system, the other being Old Age Security (OAS).
The Old Age Security (OAS, French: Sécurité de la vieillesse) program is a universal retirement pension available to most residents and citizens of Canada who have reached 65 years old. This pension is supplemented by the Guaranteed Income Supplement (GIS), which is added to the monthly OAS payment for seniors with lower incomes.
LAPP, formerly known by its expanded acronym, the Local Authorities Pension Plan, is the largest pension plan in Alberta and the seventh largest in Canada. With 291,259 members and $58.7 billion in assets (2022), LAPP is a multi-employer jointly sponsored [3] defined benefit pension plan. Dedicated to helping every member retire with dignity ...
Ontario regulates approximately 8,350 employment pension plans, which comprise more than 40 per cent of all registered pension plans in Canada [1] It was originally enacted as the Pension Benefits Act, 1965 (S.O. 1965, c. 96), and it was the first statute in any Canadian jurisdiction to regulate pension plans. [2]
The triple lock guarantee returned as promised in 2022. Work and Pensions Secretary Mel Stride told the House of Commons that the pension for 2023-24 would increase in line with inflation by 10.1% ...
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