Retirement Finance Programs Overview

Who coordinates the Canada Pension Plan (CPP) and the Québec Pension Plan (QPP)?

At what age must an individual be to contribute to the CPP/QPP?

What is the minimum income threshold required for pensionable employment income for an individual to contribute to CPP/QPP?

When can self-employed individuals deduct half of their CPP/QPP contributions?

What is a common investment goal for many Canadians according to the text?

Who is required to make both the employee and employer portions of CPP/QPP contributions?

At what age do most Canadians expect to retire, based on the text?

Under what conditions do individuals not make contributions to CPP/QPP?

Which of the following is a government-sponsored program mentioned in the text?

What are CPP/QPP payments based on?

What type of pension plan is known for providing a specific retirement benefit based on a formula?

Which concept refers to adjusting an individual's pension contributions based on certain factors?

What is the maximum pensionable earnings limit known as under CPP/QPP?

What rule governs the splitting of pension income as discussed in the text?

Which type of pension plan allows employees to contribute to their own retirement fund?

What is the main purpose of Deferred Profit Sharing Plans (DPSPs) as mentioned in the text?

What is the maximum percentage increase in CPP/QPP retirement pension benefits if an individual delays collecting the pension until age 70?

What must the disability be for a CPP contributor to be eligible for the CPP Disability benefit?

Who is eligible to receive survivor benefits under CPP?

What happens to the CPP Disability benefit when an individual who is receiving it turns 65?

What additional benefit is payable to the estate of a deceased CPP contributor?

If an individual chooses to start collecting CPP/QPP pension benefits after age 65, what happens to the pension benefit?

Which of the following is NOT eligible to receive a children's benefit under CPP?

If Aurora decides to start collecting her CPP pension at age 69, what percentage increase would she receive compared to starting at age 65?

What adjustments can affect the RRSP contribution limit for participants in a registered pension plan (RPP) or deferred profit sharing plan (DPSP)?

In the given scenario, what was Janice's earned income?

What is the maximum RRSP contribution limit for the year in question?

How does deducting the pension adjustment affect Janice's total RRSP contribution limit?

What kind of contributions can clients deduct from their total income?

What is the purpose of reducing the amount of income tax by deducting RRSP contributions?

Which of the following does NOT contribute to determining the total income tax deduction an individual may claim?

Janice has $25,000 of carry forward unused RRSP contribution room. What impact does this have on her total RRSP contribution limit?

What is the main purpose of a Pension Adjustment Reversal (PAR)?

In the given scenario, why did Paul forfeit $1,500 of employer contributions?

Which amount is included in Paul's Pension Adjustment Reversal (PAR) for 2019?

What is the significance of Paul's Pension Adjustment (PA) being $500 in 2019?

What is the consequence of not including the $215 interest in Paul's Pension Adjustment Reversal (PAR)?

Why does the employer still need to report Paul's PA for 2019 as $500?

What type of pension income can be split between a pensioner and their spouse or common-law partner?

How does working less than the required 24 months impact an employee's DPSP benefits?