CPP Survivor Benefits
KNOWLEDGE EXPECTED OF: QAFP® Professionals
Highest Knowledge Level: Awareness
Knowledge Levels and Associated Verbs
Awareness
The state of being aware that something exists / to have familiarity with a particular activity or subject
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Understanding
To comprehend the general relationship of particulars / to have an expertise with how something works
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Application
Ability to put information to use / to use knowledge for relevant, practical purposes
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Evaluation
To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Determine
To ascertain / to come to a decision, such as by investigation or reasoning
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
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Hold cursor over or click on each term to read its definition.
- Identify the current annual maximum CPP benefits payable to survivors of a deceased CPP contributor.
- Survivor’s Pension
- Flat rate Children’s Benefit
- Death Benefit
- Identify who receives the CPP Child(ren’s) Benefit.
- When the survivor is under 18
- When the Survivor is between age 18 and 25
KNOWLEDGE EXPECTED OF: CFP® Professionals
Highest Knowledge Level: Application
Knowledge Levels and Associated Verbs
Awareness
The state of being aware that something exists / to have familiarity with a particular activity or subject
|
Understanding
To comprehend the general relationship of particulars / to have an expertise with how something works
|
Application
Ability to put information to use / to use knowledge for relevant, practical purposes
|
Evaluation
To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
|
||||||
---|---|---|---|---|---|---|---|---|---|
Define
To state exactly the meaning of
|
Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
|
Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
|
Determine
To ascertain / to come to a decision, such as by investigation or reasoning
|
Compare
To note the similarities and differences between two or more things
|
Estimate
To determine an approximate value for
|
Calculate
To find the value using mathematics
|
Convert
To change from one form or purpose to another
|
Evaluate
To reach a conclusion or make a through careful study
|
Interpret
To give the meaning of / to construe or understand / to translate orally
|
Hold cursor over or click on each term to read its definition.
- Identify the current annual maximum CPP benefits payable to survivors of a deceased CPP contributor.
- Survivor’s Pension
- Flat rate Children’s Benefit
- Death Benefit
- Identify who receives the CPP Child(ren’s) Benefit.
- When the survivor is under 18
- When the Survivor is between age 18 and 25
Additional Knowledge Expected of CFP Professionals
- Determine how each of these factors may impact the amount a surviving spouse will receive as a CPP Survivor’s Pension.1
- Surviving spouse’s age
- Concurrent receipt of a CPP Disability Benefit or Retirement Pension
- Deceased contributor’s length and value of contribution history
- Explain the maximum payment that may be received by a surviving spouse from a CPP Survivor`s Pension.2
- When the surviving spouse is eligible for the CPP Survivor’s Pension and the CPP Disability Benefit
- When the surviving spouse is eligible for the CPP Survivor’s Pension and the CPP Retirement Pension
- Determine how each of the factors may impact the amount of the Death Benefit that may be received by the deceased CPP contributor’s estate.
- Deceased contributor’s length and value of contribution history
- Explain the tax treatment of survivor benefits received by survivors of a deceased CPP contributor.
- CPP Survivor’s Pension
- CPP Child(ren’s) Benefit
- CPP Death Benefit
- Explain how the Consumer Price Index impacts the benefits payable to a survivor of a deceased CPP contributor.
- Identify that survivors of deceased individuals who worked in Quebec and contributed to the Quebec Pension Plan (QPP) may be eligible for QPP Survivor Benefits.
- Identify the tax treatment of QPP Survivor Pension, Children’s Benefit and Death Benefit.