Canada Pension Plan
The Canada Pension Plan (CPP) is a government program that provides financial support to Canadians during retirement. It is funded through contributions from workers and their employers, which are based on earnings. The amount received in retirement depends on how much has been contributed over the years.
In addition to retirement benefits, the CPP also offers disability benefits for those unable to work due to illness or injury, as well as survivor benefits for the families of deceased contributors. The program aims to ensure a basic level of income for Canadians in their later years or during difficult times.