Canada's Retirement Income System Is Built on Three Main Tiers

Canada's retirement income system is built on three main tiers: (i)Old Age Security (OAS);(ii)Canada Pension Plan (CPP);and (iii)private pension plans and savings (PPPS).For each characteristic listed below,indicate which program it best reflects.Enter OAS,CPP,or PPPS in the space provided.
a)This strategy is considered a contributory program._____
b)Registered retirement savings plans would fit here._____
c)Both working people and their employers pay into this program._____
d)The Guaranteed Income Supplement is one of the benefits offered through this strategy._____
e)Seniors receiving this benefit may also be eligible for the spousal allowance._____
f)A similar version of this program is available for Quebec residents._____
g)Many of its benefit plans are self-administered._____

Correct Answer:

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a)CPP
b)PP...

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