C4 - Sunday, May 6, 1984 - North Shore News CANADA PENSION FACTS Planning on retiring soon? By ISABEL WEGG IF YOU'RE retiring soon, you may be wondering what kind of pension you'll receive from the Canadian Pension Plan, which all Canadian workers have contributed to since 1966. Frank Rife, district man- ager in a federal government income security office, tells me that all benefits from the Canada and Quebec Pension Plans are designed to strengthen the financial security of Canadian workers and their families. THREE BENEFITS The plan provides three main benefits: Retirement pensions, benefits for sur- viving spouses and children, and long-term disability benefits. To receive a_ retirement pension from the Canada Pension Plan, you must have contributed to the plan and be at least age 65. In addi- tion, you must apply — which many people don’t realize. It’s worth noting that you don’t have to be retired from regular employment to receive the benefit. And, like other Canada Pension Plan benefits, the retirement pen- sion is indexed to the cost of living. ‘*We use the consumer price index to adjust the pen- sion each year,’’ Frank ex- plains. ‘“‘What we do is take the consumer price index for the previous 12 months en- ding in the month of October to calculate the retirement pension for the following year.” Canada Pension Plan benelits can be paid any where in the world So it you're thinking of retiring to Florida, you'll stall be able to receive benctits Prank says that it’s a good idea (oO apply for pen sion at deast three months before vour 6Sth birthdays “That gives us a chamee to verity the date of birth. carn VOUE Host a student CAPILANO COLLEGE ts searching for ftamihbes who would hke to billet a college aged French student for six weeks this surmmer on May 20 These students starting brench speaking from) Quebec and Ontano will be taking classes in English at lege as Capilano Col pant oof the annual Summer Language Bursary Program Capilano is looking fora separate home tor dent located cither walking distance of cach stu within the vol bdevst be capected te lege of neat a bus coute familics wall provide most meals and wll fOchve a FCMUNC HALON If you are snaterested oan hosting a brenoh student. call the college at YO TYEE local 228 right away lo the Unie If yen pust sat You won’ quant Being unht U ings record and other related information that we might re- quire,” he says. If you apply early, you will receive your first pension cheque the month following your 65th birthday. If you're late in applying, you might lose benefits. But Frank explains that if the per- son has retired, the benefits can be made retroactive for up to 12 months. Those sul employed who apply late do not qualify for retroactive payments. Sa, getting that application in early is impor- tant, especially if you're go- ing to continue working after you reach 65. The government's income security branch has offices in 42 cities across Canada. They administer not only the See What B.C.’s Best Dressed homes Are Wearing This Year! Sofas > ] 499 Custom Quality At A One-Time-Only price Reg 1999 up Canada Pension Plan but Old Age Security benefits, Loo. Frank assures me that the qualified staff will be happy to help you with further in- formation and assistance. Check the listing in your J. Collins “‘Shop Crafted’’ Comfort Coil Love Seats >Q9O9 i er Keg Your Choice of 100 Combinations Of Colours And FABR telephone directory for the address and phone number of the office in your area. Isabel Wegg ts Vice President of Consumer Relations for The Canadian Life & Health Insurance Association Inc. ICS ALL THESE FEATURES — PLUS A FULL 20 YEAR GUARANTEE on constccccion © ALL COI SPRING construc tion e e All MATCHED patterns e * Super comfortable for LOO Tb or 300 Tb people e The FINEST of quality fabnos ° e Cut and sewn by long expenenced craftsmen ° Bench made by one upholsterer TOO FABRICS to choose from (prints jacquards velvets) in all Colours of the rainbow 4S ostyles to choose tron Designed by Wo& o) Sloane WIN efter our Beethoven Progrart in conpunie thon withy the Ware ouver bralt by Jo Collis Symphony and © HOM AM'EM © ome dite our gallen, for fall uiformmation on prizes PRIZES reduce A dress cairehe seats af the VSO) June Beethourn: beste cal Pruffles Polygqrarn Beethouon Tabnar trreore! lOnllns FURNITURE GALLERY i a Pe ay Se mae dhoantal dink prlargtocn |. vith click: The mony L. NTE L A betes Lininver cat onic OPEN SUNDAY pony fabiey TEAS spec hal encenit VU Myron tat HU EW ALA, ; PRHOOPNT 245) ot ote, Miho bh ae SE ot baer ator