Sylvie lives in Ontario and has always contributed to the Canada Pension Plan (CPP). She is ready to retire at age 65 and is looking to receive the maximum CPP benefit. Joan is Sylvies twin sister, who moved to Quebec when she was 18 to go to Concordia and has been there since. Both know that the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) are contributory pension plans that you receive based on the dollar value of contributions and the number of years that you contribute to the plan during your employment years. Since contributions can fluctuate over the years (i.e. loss of employment, years in university etc.), you can exclude certain amounts in order to receive a higher pension at retirement based on drop-out provisions. Name three exclusions that Sylvie and Joan may be eligible for to increase their CPP/QPP pension at retirement under the pension drop-out provisions.

Sylvie (CPP):

1.___________________________________________________________________

2.___________________________________________________________________

3.___________________________________________________________________

Joan (QPP):

1.___________________________________________________________________

2.___________________________________________________________________

3.___________________________________________________________________