Which of the following describes the "taxback" rules of the GIS program?
A) They encourage people to work past 65 if their pension plan allows it by reducing the taxes paid by older workers.
B) They create a strong incentive for retirement, especially for the poorest workers.
C) They pay $2 towards post-retirement income for every $1 paid in pre-retirement taxes.
D) They do not tax RRSPs or other private pension programs.

Question

Quizplus · Accepted Answer

The "taxback" rules of the GIS (Guaranteed Income Supplement) program effectively reduce the GIS benefits as additional income is earned, creating a disincentive for continued work, particularly among the poorest workers who might lose more in benefits than they gain in income.

Which of the Following Describes the "Taxback" Rules of the GIS