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Page 5 Terrace Bay News September 16, 1965 The Canada Pension Plan and. its benefits If Joe continues to work full time until age 65 he can look forward to retiring with a monthly pension of $54.16 from the Canada Pension Plan and $75 from Old Age Security--a total of $129.16. That's almost 60% of what he was earning. If he is ill or out of work for as long as two years, or if his earnings for a period of up to two years are below his regular wage, he will receive the same pension at age 65. This is because under the Plan a certain number of CP-45C months of low or no earnings do not affect the amount-of the pension. 'If Joe wishes to continue working between 65 and 70 and earns higher wages than previously he can improve his pension. For example, if he works until age 69 and earns $3,600 a year, his pension will be $61.74 a month instead of $54.16. If Joe becomes disabled after 1970, having contributed for at least 5 years, he will get a disability pension of $65.62 a month until he gets both his retirement and Old Age Security pensions at age 65, Here is what the Canada Pension Plan will do for people like Joe Costello, a 52-year-old unmarried labourer who earns $50 a week. All benefits under the Plan will maintain their value. The actual benefits payable will probably be higher than those given here since benefits will be adjusted to meet changes in living costs and in wage levels before they are paid and changes in living costs after they become payable. This advertisement is one of a series which relates some of the important benefits of the Canada Pension Plan to individual circumstances, i , What will the Plan cost you? Issued by authority of the Minister of National Health and Welfare, Canada, | The Honourable Judy LaMarsh If you, like Joe Costello, are employed and have earnings of $2,600 spread evenly over the year, you will pay at the rate of 69¢ a week. Your employer will pay the same amount.