Types of Canadian Pension Plan (CPP)

Do you know that :

There are six types of Canadian Pension Plan :

Retirement pension

You can apply for and receive a full CPP retirement pension at age 65 or receive it as early as age 60 with a reduction, or as late as age 70 with an increase.

Post-retirement benefit

If you continue to work while receiving your CPP retirement pension, and are under age 70, you can continue to participate in the CPP. Your CPP contributions will go toward post-retirement benefits, which will increase your retirement income.

Disability benefit

If you become severely disabled to the extent that you cannot work at any job on a regular basis, you and your children may receive a monthly benefit.

Survivor’s pension

When you die, a pension may be paid to your surviving spouse.

Death benefit

Provides a one-time payment to (or on behalf of) the estate of a deceased CPP contributor.

Children’s benefits

Provide monthly payments to the dependent children of disabled or deceased CPP contributors.