Government retirement benefits

There are a number of components to the government retirement benefits that are available to Canadians. The Canada Pension Plan (CPP) and the Québec Pension Plan (QPP) are mandatory defined benefit pension plans for workers from the age of 18. QPP applies to the province of Quebec only, and CPP to the rest of Canada.

If you have contributed to both the CPP and QPP, you must apply for the QPP if you live in Quebec or for the CPP if you live elsewhere in Canada. Contributions to CPP (or QPP) are made through payroll deductions.

The Government of Canada offers two addition plans, Old Age Security (OAS) and Guaranteed Income Supplement (GIS) which are non-contributory plans.

When do benefits start
The standard age for beginning to receive your CPP (or QPP) retirement pension is the month after your 65th birthday. However, you can take a reduced pension as early as age 60 or begin receiving an increased pension after age 65. The amount of your pension will depend on how much and for how long you have contributed to the CPP (or QPP) and on your age when you want your pension to start. If you take it before age 65, your pension will be reduced, by up to 36% at age 60. If you take it after age 65, your pension may be larger, by up to 42% at age 70.

Old Age Security and Guaranteed Income Supplement
Old Age Security (OAS) and Guaranteed Income Supplement (GIS) are benefits funded from general government revenues that are available from age 65, depending on a person's eligibility and other sources of income. These programs are not automatic, so you must apply in advance to receive the benefits. It is generally recommended that you apply about six months before you are eligible for benefits.

Applications

 * Canada Pension Plan Retirement Application
 * Québec Pension Plan Retirement Application
 * Old Age Security Application
 * Guaranteed Income Supplement Application