HomeMy WebLinkAboutThe Brussels Post, 1965-09-16, Page 6Iwo Asplosamit rOMT-4. 4411010111413, 94T461.110. THUFtsp.AY, marr
Here is what
the Canada Pension Plan
will do for people like Joe Costelkii
a 52-year-old mmarried labourer
who earns $50 a week.
If Joe continues to work full time
until age 65 he can look forward
to retiring with a monthly
pension of $54.16 from the
Canada Pension Plan and $75
from Old Age Security—a total
of $129.16. That's almost 60%
of what he was earning.
If he is ill or out of work for
as long as two years, or if his
earnings for a period of up to two
years arc below his regular wage,
he will receive the same pension
at age 65. This is because under
the Plan a certain number of
months ()flow or no, earnings do
not affect the amount of the
pension.
If Joe wishes to continue
working between 65 and .70 and
earns higher wages than
previously he can improve his
pension, For example, if he
works until age 69 and earns
$3,600 a year, his pension will be
$61,74 a month instead of $54.16,
if The becomes disabled after
1970, having contributed for at
least 5 years. he will get a
disability pension of $65.62 a
month until he gets both his
retirement and Old Age Security
petasioik at age 65:
Al,! 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 becothe payable.
What will the Plan cost you?
If you, like The Costello, are
employed and have earnings of .
$2,600 spread evenly over the
year, you will pay at the rate of
690 a week. 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 et
National:Health and Welfare,
Canada,
The Honourable Judy LaMantia.