Asked by Lizzie Stanz on Jul 12, 2024
Verified
Self-employed individuals can contribute to the Canada Pension Plan.
Self-Employed
A status wherein an individual works for themselves rather than being employed by a company or organization, taking on contracts or gigs independently.
Canada Pension Plan
A social insurance program in Canada providing retirement, disability benefits, and survivor benefits to eligible individuals.
- Understand the fundamental framework and prerequisites of the Canada and Quebec Pension Plans (CPP and QPP).
Verified Answer
MB
Megan BradshawJul 14, 2024
Final Answer :
True
Explanation :
Self-employed individuals in Canada are required to contribute to the Canada Pension Plan (CPP) on their net business income, ensuring they have access to CPP benefits in retirement.
Learning Objectives
- Understand the fundamental framework and prerequisites of the Canada and Quebec Pension Plans (CPP and QPP).
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