On January 1, 2012, the Government of Canada introduced a number of changes to the Canada Pension Plan (CPP) that may affect you.
On January 1, 2012, the Government of Canada introduced a number of changes to the Canada Pension Plan (CPP) that affect individuals between the ages of 60 and 70 who work while receiving CPP retirement pension. Current employees of SFU receiving CPP retirement pension while working will be receiving a letter directly from payroll regarding the impact these changes will have on them.
The following is a summary of these changes:
- Employees under 65 receiving CPP retirement pension will now have to make CPP contributions. These contributions will increase CPP retirement benefits.
- Employees age 65 to 70 receiving CPP retirement pension can now choose to make CPP contributions. These contributions will increase their CPP retirement benefits.
More information regarding these changes can be found on the Service Canada Website. If you should have any questions regarding the implementation of these changes please do not hesitate to contact Deb Walker in Employee Relations.