Finance committee  You're correct. The normal age for receiving a retirement pension from the Canada pension plan is 65. However, you may draw your pension starting at the age of 60, but it will be subject to an actuarial penalty, or wait until you're 70 and get an actuarial increase. There's no f

Finance committee  All Canada pension plan benefits are associated with a retroactive period of 12 months, and that applies to everyone. Even if a person applies for a pension at the age of 67 and would like the pension to be retroactive to the age of 65, the limit of the retroactive period is nev

Finance committee  The criteria are set forth in the act. You must have contributed to the Canada pension plan. If the department knows an individual is receiving another pension, such as old age security or the survivor's pension, or that the individual filed an income tax return the previous year

Finance committee  Good afternoon. Under the current Canada pension plan legislation, an individual must apply for the CPP retirement pension in order to receive it. A small but significant minority of eligible seniors currently miss receiving a retirement pension payment because they apply late

Finance committee  Good day. I'll keep this brief. Division 2 provides for a minor technical amendment to the Canada pension plan that in certain cases will modify the calculation of the child-rearing drop-in. The child-rearing drop-in was introduced in BIA 1 and will be implemented in January 201

Finance committee  The difference will depend on the earnings of each beneficiary. Of course, it will be less beneficial for those who have children at a young age. It will be less beneficial for these individuals. However, the trend is that people have children later in life. For these individual

Finance committee  If we look at the participation of young people in the labour market, we see that, when they have a child at age 18, their earnings are generally much lower than when they have a child at age 35. In general, people have a lower income when they are young, but we are also seeing t

Finance committee  I cannot answer that, but I can tell you that the enhancement is structured very differently than the base benefit and that it adapts much better to the situation. The enhancement is based on years of service. We always use the best 40 years to calculate the pension. When it com

Finance committee  I have to say that most of the enhancements in this bill are directed more at women than men because women are the ones who leave the labour market to take care of children, they are more likely to suffer from disabilities, and they are widowed at a younger age.

Finance committee  Depending on their earnings, young women will likely receive lower amounts, but thresholds have been set for parents who have not accumulated sufficient earnings.

Finance committee  Thank you very much. I will make this brief, as I know you've all had a hard day. This bill proposes amendments to the Canada pension plan consistent with the agreement in principle reached unanimously by Canada’s finance ministers in December 2017. The changes eliminate the pe

Finance committee  There was no cost done to look at the actuarial factors when they were increased in 2009. They were increased to bring them to neutrality, to ensure it's neutral to the plan. So if you take your retirement earlier we pay it for a longer period of time. Therefore, you are receivin

Finance committee  This wasn't part of the enhancement discussions, no.

Finance committee  It's 36%.

Finance committee  No. This will apply.