ECO 1102 Lecture Notes - Lecture 6: Old Age Security, Canada Pension Plan, The Employer

• School: University of Ottawa
• Department: Economics
• Course: ECO 1102
• Professor: David Gray

Document Summary

Cp) used to adjust(cid:523) (cid:524) the canada pension(cid:523) (cid:524) plan (cid:523)cpp(cid:524) Overall cost of living how our purchasing power changes over time. Use cp) to compare dollar figures from different points in time. Cp) is the basis of cost of living adjustment (cid:523)colas(cid:524) in many private sector(cid:523) (cid:524) contracts, in many government programs such as the. Canada pension plan and the old age security program, and for various income tax parameters such as the basic personal amount. Cpp retirement pension(cid:523) (cid:524) is a monthly benefit designed to replace about (cid:884)(cid:887)% of the average person"s lifetime pre-retirement(cid:523) (cid:524) employment earnings, up to an maximum amount (cid:884)(cid:882)(cid:883)(cid:889) maximum pensionable(cid:523) (cid:524) earnings amount is. )t is adjusted annually based on increases in the average wage . Maximum retirement pension equals ,(cid:883)(cid:883)(cid:886). (cid:883)(cid:889) per month for (cid:884)(cid:882)(cid:883)(cid:889) (cid:523)or. )t is adjusted annually based on increases in the cost of living as.