Question
1. To be eligible for Old Age Security retirement benefits, a person must be 65 years old. Select one: True False 2. Morley is retiring
1. To be eligible for Old Age Security retirement benefits, a person must be 65 years old.
Select one:
True
False
2. Morley is retiring on his 70th birthday. How much of a CPP(Canada Pension Plan pension will he receive if he is entitled to the maximum monthly benefit of $700?
Select one:
a. $994
b. $700
c. $952
d. $765
3. If Ramzi earned $46 000 from employment, what will be his CPP(Canada Pension Plan contribution? (YMPE $43 700; YBE $3500)
Select one:
a. $1989.90
b. $2277.00
c. $3979.80
d. $2103.75
4. Individual Canada Pension Plan contributions amount to 7 percent of all income.
Select one:
True
False
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