CRA 2021 Update: CPP Pension Is Rising!

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Canada is a fantastic place to live as a senior citizen. The government has made remarkable efforts to create pension plans to provide its oldest citizens a more comfortable retired life. The Canada Pension Plan (CPP) is one of the best friends a retiree can have in this country.

Canadians spend their whole lives cultivating the CPP, and it is not a government-funded pension like the Old Age Security (OAS) program. You fund the CPP throughout your working life. If you’re a Canadian 18 years or older, not a resident of Quebec, and earn more than $3,500 a year, you are legally obligated to contribute to the CPP.

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Adam Othman 

Original Article Posted on:  December 21, 2020

Link to Original Article:  https://www.fool.ca/2020/12/21/cra-2021-update-cpp-pension-is-rising/