When we think of Canada, we often think of its beautiful landscapes and friendly people. But what may be less known is the country’s robust social welfare system. The Canadian government has implemented various programs to support and assist its citizens, especially those who are vulnerable or facing financial challenges.
One of the most well-known programs is the Canadian Pension Plan (CPP), which provides retirement benefits for seniors. It is a mandatory contribution program where both employees and employers contribute a percentage of their income to a fund that is later used to provide pension benefits. Additionally, there is also the Old Age Security (OAS) program, which provides a monthly pension for seniors who have lived in Canada for a certain number of years. These programs ensure that seniors have a stable source of income during their retirement years.