Definitions for "Canada Pension Plan"
The federal pension plan administered by Human Resources Development Canada. It applies in all provinces and territories of Canada except Quebec.
The Canada Pension Plan is a "contributory" plan. This means that all costs are covered by the finanical contributions paid into the Plan by employees, their employers and self-employed people, and from interest earned on the investment of that money. The Canada Pension Plan is not funded through general tax revenues. The Canada Pension Plan pays a monthly retirement pension to people who have worked and contributed to the CPP. The CPP also acts as an insurance plan, providing disability and survivor benefits for those who qualify. It provides a monthly income to you and your dependent children if you become severely disabled during your working years. It also provides a monthly income to your surviving spouse or common-law partner and dependent children if you die. A lump-sum death benefit is available to your estate when you die. For more information visit
federal earnings-realted social insurance program, which provides income upon retirement, disability or death