HomeMy WebLinkAboutThe Brussels Post, 1965-09-09, Page 4TOA 0100016:40 ilitiO4 4 141,14004404 thillt044.0 kfigre 04,1 100
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Here is what
the Canada Pension Plan
,will do for people like Mary Todd,
a 22-year-old nurse
who earns $310 a month ($3,720 a year).
•
If. Mary's earnings continue at
this rate until she reaches age
65, she will receive a retirement
pension of $77.50 a month from
the Plan plus $75 a month
Old Age Security.
Because Mary will have the
opportunity of contributing for
43 years, she can have as many as
6 1/2 years of lower or no
earnings and still be entitled to
the same pension.,
Actually, Mary's retirement
pension will undoubtedly be
more. This is because as Mary
advances in her profession and
her earnings increase so will her
pension. Furthermore, to ensure
that all benefits under the Plan
maintain their value, they will
be adjusted to meet changes
in living costs and wage levels
before they are paid and changes
in living costs after they become
payable.
If Mary continues to work
and becomes disabled at any
time after 1970, she will be
entitled to ,a disability pension of
$83.12 a month until she reaches
age 65. From then on she will
receive her retirement pension as
well as $75 a month from Old,
Age Security.
If Mary dies any time after 1967,
having contributed until her
death, a lump sum payment, of
$465 will, be paid to her estate.
What will the Plan cost you?
If, like Mary, you are employed
and have earnings of $3,720
spread evenly over the year, you
will ,pay at the rate of $4.68
a month. Your employer will pay
the same amount.
This advertisement is one of a
series which relates some of
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.