Solution-How much will she receive as a monthly cpp benefit

How much will she receive as a monthly cpp benefit

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Reference no: EM133070814

1. if Jane applies for Canada Pension Plan (CPP) at her normal retirement age (NRA), she expects to qualify for $1,118.52 per month. Under the current CPP rules, a reduction of 0.6% is applied for retirement before NRA. How much will she receive as a monthly CPP benefit if she retires at age 60?

2. Benito has $5,903 carry-forward balance from unused RRSP contribution room in the prior year. He had a salary income of $62,492 last year. The maximum contribution for the year is the lesser of $26,500 or 18% of prior year's earned income. He and his employer each contributed 3% of his salary to a defined contribution pension plan. Investment income totaled $6,500 from interest and dividends in the prior year. How much could Benito contribute to his RRSP this year?

Reference no: EM133070814

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How much will she receive as a monthly cpp benefit

Reference no: EM133070814

Reference no: EM133070814

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