Canada Pension Plan
The Canada Pension Plan (CPP) is an earnings-related public pension plan. The CPP makes a monthly payment to Canadians and their families to partially replace their income after retirement, disability or death. Working Canadians make regular contributions to the CPP in order to be eligible. The CPP covers all Canadian workers except those in Quebec who are covered by the parallel Quebec Pension Plan (QPP). The Canada Pension Plan Investment Board (CPPIB) manages CPP assets, making it one of the largest pension fund managers in the world. As of 31 March 2021, CPPIB ended its 2021 fiscal year with net assets of 497.2 billion.