Today is your 60th birthday and you plan to retire today. You will make $1364.6 per month if you start your CPP at age 65. You don't want to wait until your 65 and want to start your CPP the day you turn 60. Your pension is reduced by 0.6% of the monthly payment for every month before age 65. What is the amount of your monthly CPP payment if you take the benefits at 60?
Today is your 60th birthday and you plan to retire today. You will make $1364.6 per month if you start your CPP at age 65. You don't want to wait until your 65 and want to start your CPP the day you turn 60. Your pension is reduced by 0.6% of the monthly payment for every month before age 65. What is the amount of your monthly CPP payment if you take the benefits at 60?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Today is your 60th birthday and you plan to retire today. You will make $1364.6 per month if you start your CPP at age 65. You don't want to wait until your 65 and want to start your CPP the day you turn 60. Your pension is reduced by 0.6% of the monthly payment for every month before age 65.
What is the amount of your monthly CPP payment if you take the benefits at 60?
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