MoneySense

The Canada Pension Plan (CPP) is a crucial component of Canada's retirement income system, providing essential financial support to Canadians as they transition from work to retirement. Established as a mandatory social insurance plan, it is funded by contributions from workers, employers, and the self-employed, ensuring sustainable income replacement during retirement. With eligibility starting at age 60, individuals can receive CPP benefits based on their contributions and earnings throughout their working life, with potential payouts varying significantly depending on when benefits are claimed.

The CPP offers various services, including monthly pension payments, disability benefits, and survivor benefits for families of deceased contributors. Its financial operations are managed by CPP Investments, a Crown corporation that ensures prudent management of funds for long-term sustainability. Additionally, important resources and information about CPP payment dates, application processes, and eligibility criteria are available through MoneySense, an award-winning magazine dedicated to helping Canadians navigate their financial decisions.