Canada Pension Plan

The Canada Pension Plan (CPP) is a government-managed program that provides retirement, disability, and survivor benefits to Canadians. Workers and employers contribute a percentage of income through payroll deductions during employment. When a contributor reaches retirement age or becomes disabled, they can receive monthly payments based on their contribution history and earnings. The goal is to offer financial support during retirement or in case of disability, complementing personal savings and other retirement income sources. The CPP is funded through these ongoing contributions, ensuring its sustainability and ability to support beneficiaries over the long term.