If Jane applies for Canada Pension Plan (CPP)at her normal retirement age (NRA), she expects to qualify
Question:
If Jane applies for Canada Pension Plan (CPP)at her normal retirement age (NRA), she expects to qualify for $1,088.35per month.Under the current CPP rules,a reduction of 0.6%is applied for retirement before NRA.How much will she receive as a monthly CPP benefit if she retires at age 63?Round your answer to 2 decimal places and do not input any symbols such as $, % or commas.
Benito has $5,903carry-forward balance from unused RRSP contribution room in the prior year. He had a salary income of $62,492last year.The maximum contribution for the year is the lesser of $26,500 or 18% of prior year's earned income. He and his employer each contributed 3% of his salary to a defined contribution pension plan. Investment income totaled $6,500 from interest and dividends in the prior year. How much could Benito contribute to his RRSP this year? Round your answer to 2 decimal places, and do not enter symbols such as $, % or commas.