I. Pensions

The most basic pension benefits, receiving conditions:

1__ at least 65 years old

2__ Canadian citizen/permanent resident

After reaching the age of 3__ 18, I have lived in Canada for a total of 10 years.

How much pension can I get?

According to the length of residence, the longer the time, the greater the amount. The full pension is 202 1 year 6 15 Canadian dollars/month, which will be adjusted every quarter according to inflation.

_ _ Canada stipulates that after 18 years old, you can get a full pension after living for 40 years. If it is not full, you can get 40 years according to the length of residence!

_ _ For example, if you live for 20 years, 20_40 equals 50%, which means you can get half of your pension. According to the situation that the full amount in 202 1 is 6 15, you can get 307.5 Canadian dollars!

The conditions and rules for receiving a pension are very simple. Whether you work in Canada, pay taxes or buy social security, you can get it.

_ _ In addition: if the income exceeds 129075, you cannot receive a pension; If the income exceeds 79,845 Canadian dollars, the excess will be reduced by 65,438+05%.

Second, the pension plan.

If it is necessary to pay after starting work, it will be paid between 3500 Canadian dollars and 57400 Canadian dollars according to personal income.

_ _ For example, if the annual income is below C $3,500, there is no need to pay CPP. If the income exceeds C $57,400, there is no need to pay the excess.

The contribution ratio of CPP is 10.2%, with employees and employers paying half; Self-employment requires full payment!

How much money you get from CPP depends on how many years you have paid and the average income in your career. It must be overpayment!

If you start collecting at the age of 65, you can receive up to 1200 Canadian dollars/month. According to the data of 2020 10, the national CPP collection amount is 6 14.2 1 Canadian dollar \ month. Please refer to my Canadian service account for details.

Third, the minimum living guarantee.

As the name implies, it is a guarantee for low-income groups, and the requirements for collection are:

1__ at least 65 years old

2__ must live in Canada.

3__ You must receive an old-age pension at the same time. Those who do not meet the conditions for receiving pensions will not be able to receive subsistence allowances.

The following are the income requirements for receiving GIS:

1__ single: the income does not exceed 18648 Canadian dollars.

2__ Having a spouse: Their total income does not exceed 24,624 Canadian dollars (if the spouse has not retired, their total income does not exceed 44,688 Canadian dollars).

The specific amount of GIS is calculated according to the individual's tax return income in the past year. 202 1, GIS can receive up to 9 19. 12 Canadian dollars per month.