Pension Plan : Tax tips

 

Social Security Totalization Agreement

If a Canadian is transferring to a country with which Canada has a Social Security Totalization Agreement, he or she may be exempt from contributions to the host country pension plan and continue to pay into CPP/QPP. (Quebec has its own agreements with certain countries.) For a country with which Canada (or Quebec) does not have an agreement, it may be possible, if beneficial, to voluntarily pay into both pension plans although it does increase contribution costs.