Terminating and liquidating a non qualified plan
The CPP operates in every province and territory except Quebec, which has its own similar pension program, the Quebec Pension Plan (QPP).The CPP and QPP pay a monthly retirement pension to people who have worked and contributed to .They also provide survivor and disability benefits for those who qualify and a lump-sum death benefit when the contributor dies.The employer deducts employee contributions from your pay cheque and makes an equal employer contribution.Public pension plans include the Old Age Security program (OAS) and the Canada Pension Plan (CPP), which are administered by Service Canada, and the Quebec Pension Plan (QPP), which is administered by the Régie des rentes du Québec.While the Office of the Chief Actuary, which is an independent unit within OSFI, provides actuarial valuation and advisory services for the CPP, OAS, the Canada Student Loans Program and other public sector pension and benefit plans, OSFI does not regulate these programs and plans.Employers generally set up pension plans voluntarily; however, once a registered private pension plan is established, it must be funded and administered in compliance with applicable tax and pension laws.The two main forms of registered private pension plans are classified either as defined contribution plans or defined benefit plans.
The federal and provincial governments (except Quebec) jointly manage the CPP.
The list of questions below leads to pages that answer the most common questions we get from CPA firm clients and from website visitors.
Therefore, if you have a question about forming, operating or ending an S corporation, the answer probably appears below.
You should contact the plan administrator for the details of your pension plan.
Appendix A contains a glossary of some of the specialized terms used in this Guide. Appendix B contains information that you should be able to answer from information provided to you in your annual statement, plan booklet or from asking your plan administrator as well as information you should ask a financial advisor.