What is the Canada Pension Plan (CPP)?
CPP is a mandatory pension plan to help Canadian workers (every person over 18 years of age, who works in Canada and earns over $3,500 per year), in their retirement.
- Employees, employers and the self-employed are all required to contribute and participate.
- Employers must match employees’ contributions.
- Self-employed individuals are considered to be both the employee and the employer and must pay both portions of the contribution.