How do pensions work in Canada?
Modified on: Tue, 5 Mar, 2019 at 2:37 PM
Canadian pensions are both public and private. All Canadian workers contribute to the national Canada Pension Plan (CPP), which they can draw from when they turn 60. Because this pension is small, however, many Canadians supplement it via private Registered Retirement Savings Plans (RRSP). Employers often choose to match these contributions in full or in part, or offer company pensions.
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