Home Retirement Glossary Canada Pension Plan (CPP)

Retirement


DEFINITION

Canada Pension Plan (CPP)

Almost all individuals who work in Canada contribute to the Canada Pension Plan (CPP). The CPP provides pensions and benefits when contributors retire, become disabled, or die. The goal of the CPP — along with Old Age Security and the Guaranteed Income Supplement — is to provide retired Canadians with a minimum level of retirement income.

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