Ontario Community Newspapers

Terrace Bay News, 14 Oct 1965, p. 4

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Page 4 {f Esther continues to earn this amount from her business until age 65, she and her husband, who is disabled and cannot work, can look forward to a retirement income of $104.17 from the Plan and $75 from Old Age Security-- a total of $179.17 a month. 'When her husband receives Old Age Security, their income will be $254.17 a month. Should Esther die anytime after 1967, having contributed until her death, her husband will receive a disabled widower's pension of $64.06 a month until he reaches age 65. At that time, or if he is already 65 when Esther dies, his pension under the Plan will be $62.50 a month plus $75 a month Old Age Security. On the death of his wife, Mr. Meyer will also be entitled to a lump sum payment of $500. All benefits under the Plan will maintain their value. The actual benefits payable will probably be higher than those THE NEWS Here is what October 14, 1965 The Canada Pension Plan and its benefits the Canada Pension Plan will do for people like Esther Meyer, a 50-year-old owner of a small store who makes $5,800 a year. 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. What will the Plan cost you? If, like Esther, you have self- employed earnings of $5,800 a year, you will pay $158.40 a year which is 3.6% of $4,400, the maximum amount upon which contributions are payable. Payment will be in instalments in the same way you pay your income tax. This advertisement is one of a series which relates some of the important benefits of the Canada Pension Plan to individual circumstances. Issued by authority of the Minister of National Health and Welfare, Canada, The Honourable Judy LaMarsh.

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