The government facilitates two financial tools for retirement, OAS and CPP. They do have some similarities, which include all EXCEPT which of the following: a They are subject to claw back if you have other sources of retirement income which places you over a certain income amount b In order to receive them you must apply for them, and it’s possible to delay your application in order to receive a higher payment c They recognize the nature of shared income between spouses or common-law partners and have allowances for widows to continue claiming the income amount d They are offered as a result of having contributed to the Canadian economy over your life
The government facilitates two financial tools for retirement, OAS and CPP. They do have some similarities, which include all EXCEPT which of the following: a They are subject to claw back if you have other sources of retirement income which places you over a certain income amount b In order to receive them you must apply for them, and it’s possible to delay your application in order to receive a higher payment c They recognize the nature of shared income between spouses or common-law partners and have allowances for widows to continue claiming the income amount d They are offered as a result of having contributed to the Canadian economy over your life
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The government facilitates two financial tools for retirement, OAS and CPP. They do have some similarities, which include all EXCEPT which of the following:
| a |
They are subject to claw back if you have other sources of retirement income which places you over a certain income amount |
|
| b |
In order to receive them you must apply for them, and it’s possible to delay your application in order to receive a higher payment
|
|
| c |
They recognize the nature of shared income between spouses or common-law partners and have allowances for widows to continue claiming the income amount |
|
| d |
They are offered as a result of having contributed to the Canadian economy over your life |
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