After reviewing her financial plan with her advisor, Mrs. Chen, 59, is trying to estimate her future retirement income. Besides her personal savings and investments, what are considered common government-provided retirement income sources in Canada that she should factor into her calculations?

Question: After reviewing her financial plan with her advisor, Mrs. Chen, 59, is trying to estimate her future retirement income. Besides her personal savings and investments, what are considered common government-provided retirement income sources in Canada that she should factor into her calculations?

Answer options:

• Guaranteed Income Supplement (GIS) and Employment Insurance (EI) benefits. ✅ Canada Pension Plan (CPP) and Old Age Security (OAS) benefits.
• Worker's Compensation benefits and Registered Education Savings Plan (RESP) withdrawals.
• Disability benefits and Canada Child Benefit (CCB) payments.

Correct answer: Canada Pension Plan (CPP) and Old Age Security (OAS) benefits.

Explanation: The primary government-provided retirement income sources in Canada are the Canada Pension Plan (CPP), based on contributions during working years, and Old Age Security (OAS), a universal pension for seniors.