The Canadian pension system is generally thought of as a multi-pillared system designed to support older adults in maintaining pre-retirement living standards after they have retired. The first is generally thought of as the universal/state operated plan, the Guaranteed Income Supplement (GIS) and the Old Age Security (OAS) benefits are funded through tax revenues.
The second consists of the Canada Pension Plan and the Quebec Pension Plan (CPP/QPP). The third pillar encompasses all private savings. To read the full submission Click Here