HomeMy WebLinkAboutThe Brussels Post, 1965-09-23, Page 4What Will the Plan cost you?
If you are employed and, like
Huguette, have earnings of
$2,938 spread evenly over the
year, you will pay at the rate of
810 a week. Your employer
will pay the same amount.
Issued by
authority of the Minister of
National Health.and Welfatti.
Canada,
The Honourable Judy LaMar*.
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Here is what
the Canada Pension Plan
will do for people
like Huguette Samson,
a 22-year-old married woman
who earns $56.50 a week.
Huguette and her husband, who
is earning 54,200 a year, hope
that Huguette will work for
a few years before family needs
require her attention full time.
Assuming that Huguette does just
this, her contributions to the
Plan will benefit her in several
ways. For example, if she works
only for another five years,
at age 65 she will receive a small
retirement pension of $8.38 a
month in addition to her $75
a month Old Age Security.
Through her husband's
contributions to the Plan, should
he die when they have three
young children, Huguette would
receive'a widow's pension
of $57.81 a month plus $25 a
month for each child—a total of
$132.81 a month. She would also
receive a. lump sum payment
of $500,
At age 65, based upon both her
own and her husband's
contributions she would receive a
pension of $57.53 a month plus
$75 a month Old Age Security—
a total of $132.53.
If she decided to supplement her
income at any time by returning
to work, she could still receive
the widow's and orphan's
benefits, could substantially
increase her retirement pezisiota,
and could also ensure her
entitlement to a disability pedalo*
gibe becalm disable&
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.
This advertisement is one of a
series which relates some of
the important benefits of the
Canada,Pension. Plan to ,
individual circumstances.