Canada Pension Plan (CPP)
Canadian ProgramsA mandatory pension program that most working Canadians contribute to through payroll deductions. It provides retirement income starting as early as age 60, plus disability and survivor benefits. The amount you receive depends on how much and how long you contributed.
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Old Age Security (OAS)
A monthly pension paid to most Canadians aged 65 and older who have lived in Canada for at least 10 years after turning 18. Unlike CPP, you do not need to have worked to receive OAS. Higher-income seniors may have to repay some or all of it (the OAS clawback).
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Employment Insurance (EI)
A federal program that provides temporary income when you lose your job through no fault of your own, or when you take parental leave, sick leave, or compassionate care leave. You must have worked enough insurable hours to qualify.
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T4 slip
A form your employer gives you each year showing your total earnings and deductions (income tax, CPP, EI). You need your T4 to file your tax return. If you worked for multiple employers, you will receive a T4 from each one.