Hyde Park Oakridge Villager June 2024

Canada Pension Plan survivor benefits: What happens to your benefits at death? The Canada Pension Plan (CPP) pension is designed to provide a modest stream of income to Canadian retirees. For those who qualify, a CPP retirement pension is paid for life. What happens to your Canada Pension Plan benefits at death? There are three types of CPP benefits that are relevant at death. Let’s take a closer look at each, the amounts you could potentially receive, how the benefits are calculated, and how to apply. CPP Death Benefit The CPP death benefit is a one-time payment made to your estate (or other eligible individual) upon death. The CPP death benefit is a single lump-sum payment of $2,500. To qualify, you must have made CPP contributions for at least 10 years or one- third of the calendar years in your contributory period for the base CPP. In most cases, the CPP death benefit is included in your estate and taxed accordingly. For the application process, if you have a will, your executor must apply within the first 60 days after death. If there was no will, others specified individuals may apply. CPP Survivor’s Pension The CPP Survivor’s Pension is a monthly payment paid to the legal spouse or common-law partner of a deceased CPP contributor. To qualify, your legally-married spouse or common law partner must have been a CPP contributor. The amount of CPP Survivor’s Pension payable to a surviving spouse or common law partner depends on your age how much your deceased spouse or partner has paid in CPP contributions. Note that the combined CPP retirement benefit and survivor benefit O rChards esH Local b PUMPKINS b SQUASH b SEASONAL PRODUCE yrup b Apple Cider b APPLE CIDER Vinegar Jams b Peanuts b JERRY RADER PIES & MORE Join us - Unit 7 C runiCan C runiCan OPEN ALL WINTER 7 DAYS A WEEK! Monday-Friday 9-6, Saturday 9-5, Sunday 12-5 RICHMOND STREET NORTH Just 10 Minutes from Masonville at 15 Mile Road 519-666-0286 MORE THAN JUST APPLES We have a wide SELECTION OF LOCAL FOOD products. 23778 RICHMOND ST NORTH (519) 666-0286 • crunicanorChardS.COM – OPEN ALL YEAR – MONTHLY APPLE SPECIALS O rChards FresH Local Apples b PUMPKINS b SQUASH b SEASONAL PRODUCE Maple Syrup b Apple Cider b APPLE CIDER Vinegar Honey b Jams b Peanuts b JERRY RADER PIES & MORE OPEN ALL WINTER 7 DAYS A WEEK! Monday-Friday 9-6, Saturday 9-5, Sunday 12-5 RICHMOND STREET NORTH Just 10 Minutes from Masonville at 15 Mile Road 519-666-0286 M-F 9-6 • Sat 9-5 Sunday 12-5 Just 10 minutes from Masonville runiCan O rChards H Local SQUASH b SEASONAL PRODUCE e Cider b APPLE CIDER Vinegar uts b JERRY RADER PIES & MORE

is restricted to the maximum CPP retirement pension amount, which is $1,364.60 per month at age 65 in 2024. CPP Children’s Benefit The CPP Children’s Benefit is a regular monthly payment to the dependent child or children of a deceased CPP contributor. To qualify, the child must be under age 18, or under age 25 and attending (full-time) a recognized school or university. At age 25, the benefit is no longer payable. The child must also be either the natural or legally adopted child of the deceased CPP contributor. The CPP Children’s Benefit is a monthly flat rate amount of $294.12 (2024), adjusted annually. How to apply Applicants can apply online by signing into the My Service Canada Account and completing the appropriate online CPP application form, or with a paper application by completing either an Application for a CPP Death Benefit or the CPP Survivor’s Pension and Children’s Benefits application form. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Join us EdwardJones ®

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EdwardJones ®

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Coffee Club To help jump-start your day, join us for a cup of coffee and conversation at our next Coffee Club. The Coffee Club is an informal gathering to discuss current events, the economy and investing, in a relaxed, informal setting, and is a great way to get to know one another.

� � Edward Jones Coffee Club Join us for coffee, snacks and conversation at our next Coffee Club! Event Details October 29th, 2022 9:30am - 11:00am

November 26th, 2022 9:30am - 11:00am

June 22, 9:30 - 11:00am 1634 Hyde Park Rd., Unit 7

December 10th, 2022 9:30am - 11:00am Edward Jones

� �

Contact me today to register!

Event Details

We hope you and a guest will join us. Please call Rachel or Linda at 519-474-9356 or email rachel.mccauley@edwardjones.com or linda.skally@edwardjones.com by the Tuesday prior to Coffee Club. Please call 519-474-9356 or email rachel.mccauley@edwardjones.com Tuesday prior to Coffee Club. October 29th, 2022 9:30am - 11:00am November 26th, 2022 9:30am - 11:00am

> edwardjone 1637 Hyde Park Rd. Unit 7 (SW corner of plaza near con London, ON N6H SL7

December 10th, 2022 9:30am - 11:00am Edward Jones

Contact me today to register!

> edwardjones.ca > edwardjones.ca

1637 Hyde Park Rd. Unit 7 (SW corner of plaza near construction) London, ON N6H SL7

Coffee & Snacks are on us.

We hope you and a guest will join us. Please call Rachel or Linda at 519-474-9356 or email rachel.mccauley@edwardjones.com or linda.skally@edwardjones.com by the Tuesday prior to Coffee Club.

> edwardjones.ca

Rachel B McCauley Financial Advisor 1634 Hyde Park Rd. London, ON N6H 5L7 519-474-9356

Coffee & Snacks are on us.

- Unit 7

Rachel B McCauley Financial Advisor 1634 Hyde Park Rd. London, ON N6H 5L7 519-474-9356

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See reverse for important disclosures.

Take control of your legacy. Take control of your legacy. Take control of your legacy. Take control of your legacy.

Intergenerational Planning Business Owner Strategies Wealth Strategies Intergenerational Planning Business Owner Strategies Wealth Strategies

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Intergenerational Planning Business Owner Strategies Wealth Strategies Intergenerational Planning Business Owner Strategies Wealth Strategies Let's talk Let's talk • • •

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Rachel B McCauley , DFSA™ Financial Advisor 1634 Hyde Park Rd. Unit 7 London, ON N6H 5L7 519-474-9356 Rachel B McCauley , DFSA™ Financial Advisor 1634 Hyde Park Rd. Unit 7 London, ON N6H 5L7 519-474-9356 www.edwardjones.ca/rachel-mccauley rachel.mccauley@edwardjoens.com www.edwardjones.ca/rachel-mccauley rachel.mccauley@edwardjoens.com Rachel B McCauley , DFSA™ Financial Advisor 1634 Hyde Park Rd. Unit 7 London, ON N6H 5L7 519-474-9356 Rachel B McCauley, DFSA TM Financial Advisor 1634 Hyde Park Rd. Unit 7 London, ON N5H 5L7 519-474-9356 Let's talk Let's talk

www.edwardjones.ca/rachel-mccauley rachel.mccauley@edwardjoens.com www.edwardjones.ca/rachel-mccauley rachel.mccauley@edwardjoens.com Rachel B McCauley , DFSA™ Financial Advisor 1634 Hyde Park Rd. Unit 7 London, ON N6H 5L7 519-474-9356 rachel.mccauley@edwardjones.com www.edwardjones.ca/rachel-mccauley

OPEN ALL WINTER 7 DAYS A WEEK! Monday-Friday 9-6, Saturday 9-5, Sunday 12-5 RICHMOND STREET NORTH Just 10 Minutes from Masonville at 15 Mile Road 519-666-0286

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Page 8 Hyde Park – Oakridge Villager • June 2024

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