HomeMy WebLinkAboutThe Brussels Post, 1965-09-30, Page 2"M 041.430 110410 MST Oautmost/A, ! strum
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The Ca 'ensioi
and its b eiiefit s
S:ry is
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Here is what
the Canada Pension Plan
will do for people like Robert Martin,
a 55 -year-old skilled tradesman
who earns $100 a week . ($5,200 a year).
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If Robert works full time until age
65 lie can look, forward to a
monthly retirement income of
$1.04.17 from the Canada Pension
Plan and $75 from Old Age
Security —a total of $179.17 a
month: When his wife, who is
two years younger than Robert,
receives her Old Age Security
pension, the Martins' monthly
income will rise to $254.17.
IfRobert becomes disabled at age 60,
having contributed for five years,
he will get a disability pension of
$103.13 a month until he reaches
65 when his retirement and Old
Age Security pensions begin.
If Robert dies after contributing for
three years, his wife will receive
a widow's pension of $64.06
a month until age 65. From then
on her widow's pension will
become $62.50 and she will also
receive the $75 Old Age Security
pension—a total of $137.50
a month: At the time of Robert's
death, Mrs. Martin will also be
pal a lump sum 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 Robert, are employed
and have earnings of $5,200
spread evenly over the year, you
will, commencing in January,
pay at the rate of $1.59 a week
until your contributions for the year
amount to $79.20. 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 Paan to
individual circumstances.
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Issued by
authority of the Minister of
National. Health and Welfare,
Canada,
The Honourable Judy LaMarsh.