Question: 4 . Sandra stopped working, and stopped contributing to the Canada Pension Plan, on her 6 5 th birthday. At age 6 5 , she

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,1957. She has worked in Canada since the age of 18. Her total
adjusted pensionable earnings (TAPE) and her adjusted TAPE are $1,634,691.14 and $1,470,151.43, respectively.
a. What is her CPP retirement pension?
b. If her benefits are approved immediately after she applies, for how many months will she receive retroactive payments?
c. On January 1st,2023, Sandra returned to the workforce for one year. She will earn an annual income of $40,000. What is her monthly PRB for 2024?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!