The Canadian Pension Plan (CPP)

1. What does CPP stand for?

A) Canada Public Plan
B) Canada Pension Plan
C) Canadian Public Pension
D) Citizens Pension Program

2. What percentage of your average earnings does CPP provide?

A) 25%
B) 30%
C) 15%
D) 20%

3. What is the maximum monthly CPP benefit at age 65 for 2023?

A) $1,200.00
B) $1,000.00
C) $1,500.00
D) $1,306.57

4. What is the CPP Survivor Benefit?

A) A bonus for early withdrawal
B) A benefit for retirement savings
C) A benefit for a deceased contributor's family
D) A benefit for disability enhancers

5. How is CPP funded?

A) Contributions from employers and employees
B) Investment returns only
C) General tax revenues
D) Voluntary donations

6. Do you need to have made contributions for a specific period to qualify for CPP?

A) Only if over 50
B) Yes, a minimum of one valid contribution
C) No, contributions are not required
D) Yes, five years minimum

7. What happens to your CPP benefits if you delay taking them?

A) They decrease
B) You lose them
C) They remain the same
D) They increase up to age 70

8. Is it possible to receive CPP disability benefits?

A) Only if over 65
B) Yes
C) Only for injuries at work
D) No

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