Changes to the Canada Pension Plan for those ages 60 to 70
Workers ages 60 to 64 will have to keep contributing even if they are receiving pension
07/18/2011|payroll-reporter.com|Last Updated: 07/18/2011
The Canada Pension Plan (CPP) is changing for people ages 60 to 70.
The new rules mean those ages 60 to 64 will have to contribute to the CPP if they are still working and receiving CPP — or benefits from the Quebec Pension Plan (QPP) — starting Jan. 1, 2012. Under the old rules, those individuals were exempt from making contributions.
If an employee is at least 65 years of age but under 70 in December 2011 and is receiving a CPP or QPP retirement pension, she will have to fill out a Form CPT30 if she does not want to start contributing to CPP in January 2012.
For more information on the rules visit:
Changes to CPP deductions starting in January 2012
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