The Canadian Pension Plan (CPP)

1. What does CPP stand for?

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

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

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

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

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

4. What is the CPP Survivor Benefit?

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

5. How is CPP funded?

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

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

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

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

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

8. Is it possible to receive CPP disability benefits?

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

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