Asked by stanley kimutai on Jul 09, 2024
Verified
Canadian employees may retire at age 45 and begin drawing a reduced pension from CPP/QPP and other sources such as RRSPs.
CPP/QPP
Refers to Canada Pension Plan/Quebec Pension Plan, which are public pension plans in Canada designed to provide income for workers upon retirement.
RRSPs
Registered Retirement Savings Plans, a type of financial account in Canada for holding savings and investment assets to support retirement.
Reduced Pension
A retirement plan that provides beneficiaries with lower benefits than originally anticipated or agreed upon.
- Understand retirement planning and pension options available in Canada.
Verified Answer
Learning Objectives
- Understand retirement planning and pension options available in Canada.
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