Canada Pension Plan - CPP

Definition: The Canada Pension Plan, or CPP, administers a Canadian government pension directly related to contributions and earnings. Benefits from the CPP may be paid to the contributor or his or her family in the event of retirement, disability or death. The Canada Pension Plan applies in all of Canada, except in Quebec which operates the Quebec Pension Plan, which is similar. Benefits from the Canada Pension Plan are taxable by both the federal and provincial governments.