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Calculate Labour's Plan for Retirement

The best way to help today’s workers save enough money for tomorrow is by increasing what everybody gets from the Canada Pension Plan (CPP) as a share of their total retirement income. Which is why we’re proposing that over the next several years we lay the foundation to double CPP benefits for the future.

These calculations:

  • assume you will not draw your CPP pension benefits before age 65.
  • assume that your employment earnings remain level throughout the whole CPP contributory period.
  • are not indexed to inflation and results are in 2010 constant dollars.
  • are based on the 2010 maximum pensionable earnings for which CPP contributions are paid and benefits are computed which is $47,200.
  • include the 2010 yearly basic exemption which is $3,500 and no CPP contributions are paid on the first $3,500 of income.
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