Well hi everyone Sean Humphreys here welcome to all things retirement well in this installment we're going to talk about Canada pension plan, and specifically we'll talk about how do you go about applying for Canada pension plan what are some of the key considerations you need to be aware of before you make the application for that government pension, so I think you'll enjoy the tips that we cover off today in this particular video now if you're new to our channel make sure that you hit the subscribe button we're posting content all the time on different aspects of retirement planning whether you're just about to be retired or currently retired you'll get some good value from the videos as well as content on overall financial planning and wealth planning so be sure to hit the subscribe button now let's take a look at some key considerations uh before you go about applying for Canada pension plan now first the Canada pension plan benefits a government administered pension plan that provides you with a guaranteed retirement income through your retirement years there are two criteria that you need to qualify for or fulfill to apply for your Canada pension plan benefits number one you have to be at least 60 years of age to apply and number two you have to at one point uh along your working journey I've made at least one contribution to Canada pension plan now before we get into a discussion on the application process probably a good idea to talk about um how can a Canada pension plan work so first it's a funded pension plan, so you make contributions your employer makes contributions the maximum percentage is 10.5 percent and so five and a quarter percent by your employer five and...
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About Canada Pension Plan Application
The Canada Pension Plan (CPP) Application is a form utilized by individuals who are eligible to apply for the CPP benefits in Canada. The CPP is a social insurance program that provides financial support and retirement benefits to eligible individuals. The application is necessary for those who want to receive CPP benefits, including retirement, disability, or survivor benefits. People who need to complete the CPP application include: 1. Individuals who are turning 60 years old and wish to start receiving their CPP retirement pension. 2. Individuals who have become disabled and are no longer able to work, seeking to apply for CPP disability benefits. 3. Surviving spouses or children who have lost a loved one and wish to apply for CPP survivor benefits. 4. Individuals who have reached the age of 65 but have chosen to delay their CPP retirement pension and now want to start receiving it. 5. Individuals who have not yet reached the age of 65 but want to voluntarily apply for their CPP retirement pension. The CPP application collects information about the applicant's personal details, work history, and any relevant supporting documentation required for their specific CPP benefit. It is crucial to accurately complete this application to ensure timely and appropriate assessment of their eligibility for CPP benefits.
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