In fiscal year 2017 to 2018, the General Division Income Security Section received 2,568 new appeals related to CPP benefits. Many individuals have lived or worked in Canada and in other countries. The CPPIB is accountable to Parliament and to Canada’s Ministers of Finance. It may also reduce the amount of benefits for 1 of the former partners. The CRA also assesses and verifies earnings and contributions, advises employers and employees of their rights and responsibilities, conducts audits and reconciles reports and T4 slips. As of March 31, 2018, Canada has concluded social security agreements with 59 countries (see Table 4). These benefits represented approximately 10.0% of the total benefits paid out by the CPP in fiscal year 2017 to 2018. Negotiations towards social security agreements are ongoing with many other countries. The general drop-out provision helps to offset periods of low or no earnings due to unemployment, schooling or other reasons. The contribution rate on earnings in this new range will be 8% (shared equally by employers and employees, with self-employed individuals contributing at the full rate), targeted mailing of inserts, including seasonal mailing such as at tax-filing season, messaging added to correspondence to Canadians, messaging promoted through the Government of Canada website, messaging provided by telephone through its pensions call centre network or by employees providing information in person at Service Canada Centres, processed over 7.6 million transactions, including 1.6 million transactions to put clients into pay for the first time and to renew benefits and another 6.0 million benefit adjustments/account revisions, made over 68 million payments valued at $44.5 billion to over 5.8 million clients, including $4.4 billion to 421,000 CPP disability clients, supported more than 80,000 Canadians to apply for CPP retirement benefits online, and fully automated the adjudication of more than 850,000 new post-retirement benefits, answered 2.4 million CPP and Old Age Security enquiries through its specialized call centre agents and resolved 3.2 million calls through its interactive voice response system. We have the pleasure of submitting the Annual Report of the Canada Pension Plan for the fiscal year 2018 to 2019. Credit splitting may increase the amount of CPP benefits payable, or even create eligibility for benefits. In fiscal year 2018 to 2019, approximately 135,000 people, (representing 43% of all applications) applied for their CPP retirement pension online. Most benefit calculations are based on how much and for how long a contributor has paid into the CPP. An Act to establish the Canada Pension Plan Investment Board and to amend the Canada Pension Plan and the Old Age Security Act and to make consequential amendments to other Acts In fiscal 2020, net assets grew to $409.6 billion, comprising $12.1 billion in net income and $5.5 billion in net CPP contributions received. Canada has concluded social security agreements with the following countries: *The social security agreements with China, Israel and the United Kingdom provide an exemption from the obligation to contribute to the social security system of the other country for employers and their employees temporarily posted abroad. Table 5: Canada Pension Plan (CPP) service standards. The monthly retirement pension is the CPP’s primary benefit. 5.8 million CPP beneficiaries were paid this year, representing a total annual benefit value of $44.5 billion of which: 5.1 million CPP retirement pensioners were paid $34.6 billion, 1.1 million surviving spouses or common-law partners and 63,000 children of deceased contributors were paid $4.7 billion, 338,000 people with disabilities and 83,000 of their children were paid $4.4 billion, 160,000 death benefits totalling $368 million were paid, 1.2 million post-retirement beneficiaries were paid $440 million, Operating expenses amounted to $1.7 billion, or 3.75% of the $44.5 billion in benefits, As at March 31, 2018, total CPP net assets were valued at $361 billion, of which $356.1 billion is managed by the CPP Investment Board, The CPP contribution rate that is applied to the existing eligible earnings range (from $3,500 to the upper limit which is set at $55,900 in 2018) will increase by 2 percentage points. In 2018, the amount was $244.64 per month. The above figures represent a net decrease of $34 million in the accounts receivable for the year. The benefit paid to dependent children of deceased contributors is a flat-rate. The CPP administers the largest long-term disability plan in Canada. This approach made sense under the demographic and economic circumstances of the time, due to the rapid growth in wages and labour force participation as well as the low rates of return on investments. The OCA also met all professional standards of practice, except that the study on the determination of the actuarial adjustment factors, mentioned in the Report, should have been published at the same time as the Report. The CPPIB benefits from the CPP Fund’s exceptionally long investment horizon, certainty of assets and scale. The Canada Pension Plan Investment Board has rewarded its chief executive officer handsomely for a fiscal year which saw a “renewal” of the fund’s senior management team. 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