Changes to Canada Pension Plan

If you started receiving a pension before December 31, 2010 and you remain in the work force you will not be affected.
However, starting in 2012, if you are between the ages of 60 and 70 and work while receiving a CPP retirement pension, you should be aware that:

• if you are under 65 and work in Canada while receiving a CPP retirement pension, you and your employer will have to make CPP contributions
• between the ages of 67 and 70, you can either make contributions or opt out.  If you make contributions, so must your employer
• these contributions will increase your CPP retirement benefit through retirement
• if you start receiving your monthly CPP pension in January 2012 or later, your monthly benefit amount will decrease by a larger percentage if taken before age 65; you no longer need an interruption in work to be eligible and you can drop a longer period of low/zero earnings from the calculation of your retirement benefit.

Note that if you are nearing retirement age, CPP security benefits are not provided automatically - you must apply for them and retroactive benefits are generally limited to no more than 12 months.
For more information visit http://www.servicecanada.gc.ca/ or call 1-800-277-9914