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• The survivor's pension – a monthly pension paid to the surviving spouse orcommon-law partner of a deceased contributor; and• The children's benefit – a monthly benefit for dependent children of a deceasedcontributor.Canada Pension Plan benefits are not paid automatically. They must all be applied for;Prompt application is recommended because retroactive payments can be made forno more than 12 months.Working past 65Associates who continue to work and contribute to the CPP after turning 65 and havehigher earnings than previously, those earnings can be substituted for similar periods ofearnings before the age of 65. For example: if a person works for two years after turning65 and contributes at the maximum level, those two years can be used to replace any twoyears of low or zero earnings that took place before his or her 65th birthday.Please note that once the retirement pension begins, it is not possible to contribute to theCPP (associates receiving a CPP retirement pension can return to work, but can no longercontribute to the CPP).Amount of benefitAssociates who start their pension at the age of 65 receive a monthly benefit equal toabout 25 percent of their average monthly pensionable earnings during their contributoryperiod. The amount of a retirement pension beginning before the 65th birthday is reducedby 0.5 percent for each month between the starting of the pension and the month of his orher 65th birthday.Similarly, the amount of a retirement pension that starts between the ages of 65 and 70 isadjusted upwards by 0.5 percent for each month between the month after the 65thbirthday and the month for which the first payment is made. No adjustment is made afterthe 70th birthday. Thus, the maximum adjustment that may be made, up or down, to theretirement pension is 30 percent.Associates who apply for a retirement pension after the age of 65 may choose toreceive the adjusted pension rate or take a retroactive payment of up to 12 months(or dating back to when they reached 65 years of age if that is less than 12 months)._____________________________________________________________________________Applying after the age of 65After age 65, for every year associates wait to apply, they receive 6% more benefits foreach year.Information about CPP and OASInformation about these programs can be obtained directly from the federal government bycalling Human Resources and Social Development Canada. By telephone: English: 1-800-277-9914; French: 1-800-277-9915._____________________________________________________________________________GoodLife Health BenefitsAssociates over the age of 65 should make note of the following changes to their healthbenefits:• Life - benefit reduces by 50% at age 65 and terminates at age 70 or retirement,whichever is earlier• Dependent Life - employee's age 70 or retirement, whichever is earlier• Accidental Death & Dismemberment - same as Life• Extended Health - employee's age 70 or retirement, whichever is earlier• Dental - employee's age 70 or retirement, whichever is earlier• Long Term Disability - age 65 less the waiting period of 121 days, or retirement,whichever is earlierConfidential and Proprietary Information of Goodlife Fitness Clubs | V14 July 2009 33