*The Commerce Journal>>>Canada Taxes

Where do my canadian pension contributions ( cpp) got to?

ive had a couple grande taken off my salary every year, and quite frankly i have no idea what it means or if iam going to see this money when i retire. and if the government keeps track of how much ive accumulated, and if i can get a statement. whats the breakdown? thanx

Your contributions to the Canada Pension Plan provide you with a stable and dependable pension you can build on for retirement.

Your contributions also provide you and your dependents with basic financial protection if you become disabled or die.

There are three kinds of benefits:
Disability benefits - income for you and your dependent children if you become severely disabled.

Survivor benefits - income for your surviving spouse or common-law partner (including opposite or same-sex partners) and dependent children if you die.

Retirement pension - income you receive from the Government of Canada as early as age 60.

If you've worked any time since you were 18, you've already started to save for your retirement through your contributions to the Canada Pension Plan.

You'll find the details in your Statement of Contributions. You may request such statement online:
http://www.servicecanada.gc.ca/en/online...

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