HomeMy WebLinkAboutThe Brussels Post, 1965-09-02, Page 2•
THURSDAY, $nrir, 2.x4,1966 Bigussigrotif POW , littUssa.s, WircAURP
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The Cap
Here is what
the Canada Pension Plan
will do for people
like Thor. Andersen,
a farmer who works for himself
and makes $4,000 a year.
The Andersens are both aged 45
and have no family. If Thor's
earnings continue at $4,000 a year
until he reaches age 65, he can
look forward to a retirement
pension of $83.33 a month from
the Plan. This, plus the $75 each
Mr. and Mrs. Andersen will
receive froth Old Age Security,
will give them a total of $233.33
a month—equal to 70% of
Thor's previous average earnings.
If Thor becomes disabled anytime
after 1970, having contributed
until his disability began, he will
get a disability pension of $87.50
a month. This will continue until
he becomes 65 when he will
receive his retirement and Old
Age Security pensions.
Should Thor die anytime after
1967, having contributed until
his death, his wife will receive a
widow's pension of $56.25
a month until she becomes 65.
From then on she will get $125
a month-450 from the Plan and
$75 from Old Age Security. At
the time of Thor's death
Mrs. Andersen will be entitled
to a lump sum payment of $500.
All benefits under the Plan will
maintain their value. The actual
benefits payable will probably
be higher than those giVen here
since benefits will be adjusted to
meet changes in living costS'and
in wage levels before they are
paid and changes in living costs
after they become payable.
.What will the Plan cost you?
If you, like Thor, in a particular
year, have self-employed earnings
of $4,000 you will pay $122.40
in instalments, in the same
way you pay income tax.
This advertisement is one of a
series which relates some' or
the important benefits of the
Canada Pension Plan to
individual circumstances..
Issued by
authority of the Minister of
National Health and Welfare,
Canada,
The Honourable Judy,LaMarsh.