HomeMy WebLinkAboutZurich Citizens News, 1975-01-09, Page 5Mj
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' THURSDAY, JANUARY 9, 1975
ZURICH CITIZENS NEWS
PAGE 5
1
CHANGEs
UARY1st
Here's good news...for CPP contributors -their
Recent changes to the Canada Pension Plan will result in substan
There are other important changes, too. Some affect people over
spouses and dependent children of male and female contributors.
advice. So we suggest you read this message very carefully.
surviving spouses and dependent children
tially increased benefits for 1975 and subsequent years.
65 or approaching that age. Others provide equality for the
These changes may require prompt action or getting
Retirement Pensions
Have you contributed to the Plan
• at any time since January 1,1966?
Are you between 65 and 69?
Then you have a choice .. .
Apply now and start receiving your monthly CPP retirement
pension. No more need to retire to collect benefits. (Once
you start receiving your pension, however, you can't make
further contributions to the Plan.)
OR
Continue to contribute to the CPP and possibly build up a
larger retirement pension to commence at a later date.
Continuing to contribute is also a way to qualify survivors
for benefits if you have not already done so. (When
approaching age 70, you should consider applying for your
retirement pension because after 70 you may no longer
contribute to the Canada Pension Plan.)
NOTE: Before making your choice you may wish to seek
advice from the nearest CPP office. The staff will be pleased
to help you.
Are you approaching age 65?
If you have made your choice and want your CPP retirement
pension to commence as early as possible, you should apply
two or three months before your 65th birthday.
NOTE: There is no provision for retroactive payment of
retirement pensions between the ages of 65 and 69. So if
you're in that age group or approaching it, get advice as
soon as possible.
Do you now receive a CPP retirement pension?
As of January 1st, 1975, your pension will no longer be
affected by any money you earn thereafter.
Equal Protection
el for Males and Females.
This means that for female contributors, in addition to being
eligible for a retirement pension and disability protection for
themselves, and a death benefit payable to their estates, as
has been the case in the past, their spouses and dependent
children are now eligible for benefits as follows:
Benefits for Surviving Spouses
A monthly pension payable to the widower who at the time of
the death of the contributor is over 35 years of age, or under
35 years of age but is disabled or has dependent children;
that is, a benefit similar to that which has always existed
for widows.
Benefits for Orphans
A monthly benefit payable to unmarried dependent children
under 18 and to unmarried dependent children between 18
and 25 attending school or university on a full-time basis.
In order for survivors to qualify, the contributor must have
died in January 1968 or later and must have contributed for
the minimum contributory period, which is three years for
deaths occurring before January 1, 1975.
Benefits for Children of Disabled Contributors
A monthly benefit payable to unmarried dependent children
under 18 and to unmarried dependent children between 18
and 25 attending school or university on a full-time basis,
where the contributor concerned is in receipt of a CPP
Disability Pension.
NOTE: In all cases, it is necessary to make application for
benefits. If such applications are approved, payments can
only be made currently—that is, from January 1, 1975. No
payment can be made for any period prior to that date.
- Other Changes:
The earnings ceiling—that is, the maximum amount on
which contributions can be paid and on which benefits
can be calculated—is being raised to $7400 in 1975
and to $8300 in 1976. The initial amount of earnings,
on which you are not required to contribute, will be
$700 in 1975.
MAXIMUM MONTHLY CPP BENEFITS
Effective January 1975
Retirement Pension $122.50
Disability Pension $139.35
Surviving Spouse's Pension—under 65 $ 88.31
over 65 $ 81.67
Orphan's Benefit $ 37.27
Disabled Contributor's Child's Benefit $ 37.27
Death Benefit (Lump Sum) $740.00
1*
Health Sante et
and Welfare Bien -etre social
Canada Canada
Marc Lalonde, Minister
For assistance contact:
Your nearest Canada Pension Plan office
Your Canada Pension Plan ...keeping up with changing times
•