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

question 33

Short Answer

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._____


Definitions:

Implicit Memory

Memory that influences thoughts and behaviors without conscious awareness, such as procedural memory for tasks.

Explicit Memory

A type of long-term memory involving conscious recollection of factual information, previous experiences, and concepts.

Declarative Memory

The type of long-term memory that involves the capacity to consciously recall facts, knowledge, and experiences.

Short-term Memory Span

The ability to retain a limited amount of data in an immediately accessible form for a brief duration.

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