1. Larry had $55,000 of earned income in 2016. Determine the amount of Larrys CPP contribution using the appropriate CPP contribution rate and YMPE. SHOW YOUR WORK (2 marks)

Its 2017 and Faaz and Hima have been married for 30 years. Faaz has contributed to the CPP for 40 years and can collect the full CPP benefit. Hima has contributed to the CPP for 30 years and can collect 40% of the 2017 CPP benefit. They would like to split their CPP pension. What will be their respective CPP benefit amounts after the split? SHOW YOUR WORK. (4 marks)

3. Michelle received $6,600 in OAS pension income in 2018. Her total income for 2018 was $94,000. For 2018, the minimum income threshold is $75,910. a. What is her monthly OAS clawback? SHOW YOUR WORK. (2 marks) b. What is the clawback period? (1 mark)

c. Assuming that her OAS payment does not increase with inflation, what is Michelles new OAS payment? SHOW YOUR WORK. (1 mark) d. At what level of 2018 income would she have her entire OAS benefit clawed back? (1 mark)

4. Sandra stopped working, and stopped contributing to the Canada Pension Plan, on her 65th birthday. At age 65, she applied for and began to receive her CPP retirement income. Her birthday falls on July 1st, 1951. She has worked in Canada since the age of 18. Her total adjusted pensionable earnings (TAPE) and her adjusted TAPE are $1,734,691.14 and $1,570,151.43, respectively. a. What is her CPP retirement pension? SHOW YOUR WORK. (5 marks) b. For how many months will she receive retroactive payments? (1 mark) c. On January 1st, 2017, Sandra returned to the workforce for one year. She will earn an annual income of $30,000. What is her monthly PRB for 2018? (3 marks)