Financial Planning- Chapter 6 Flashcards
1
Q
What is CPP?
A
Canadian Pension Plan, provides pension for life where employee contributes 50% and it is matched by employer
2
Q
When do you get CPP?
A
Early as age 60 at reduced rate, normal date is 65
3
Q
What determines CPP amount?
A
amount of time in the workforce and $ contributed
4
Q
What is OAS?
A
Old age Security
5
Q
Who gets OAS?
A
Canadian citizens who are over the age of 65
