Canada Pension Plan

The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It forms one of the two major components of Canada's public retirement income system, the other component being Old Age Security (OAS). Other parts of Canada's retirement system are private pensions, either employer-sponsored or from tax-deferred individual savings (known in Canada as a Registered Retirement Savings Plan).The CPP program mandates all employed Canadians who are 18 years of age and over to contribute a prescribed portion of their earnings income to a nationally administered pension plan.
Posts about Canada Pension Plan
  • Why Cash Isn’t King: Lessons for Small Businesses

    …). The penalties are set out in s. 29 of the BC Employment Standards Regulation as follows: $500 for each first violation; $2,500 for each second violation within 3 years of the first violation; $10,000 for each subsequent violation within 3 years of the second violation. These can add up quickly! Penalties Imposed by the Canada Revenue Agency…

    Wendy Woloshyn/ kentemploymentlaw.com- 16 readers -