Canada Pension Plan – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Wed, 01 May 2024 19:25:54 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Ontario civil servants noting flaws in Alberta’s CPP portion calculations: report https://www.benefitscanada.com/pensions/governance-law/ontario-civil-servants-noting-flaws-in-albertas-cpp-portion-calculations-report/ Thu, 25 Jan 2024 14:00:09 +0000 https://www.benefitscanada.com/?p=151094 Ontario civil servants are questioning the methodology used in a report that determined how much money Alberta could extract from the Canada Pension Plan if the province were to leave the CPP and launch its own plan, according to reporting by the Edmonton Journal. In a series of briefs, the Ontario Ministry of Finance outlined several inconsistencies […]

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]]> Changes to CPP, QPP deductions taking effect this month https://www.benefitscanada.com/pensions/governance-law/changes-to-cpp-qpp-deductions-taking-effect-this-month/ Tue, 02 Jan 2024 20:00:01 +0000 https://www.benefitscanada.com/?p=149558 Middle-income earners will start seeing a larger portion of their paycheques going toward their Canada Pension Plan contributions as of Jan. 1. A broader pension revamp began in 2019, as both the Quebec Pension Plan and CPP began phasing in enhanced benefits intended to provide more financial support for Canadians after they retire. So far, individual contributions  — and the employer’s […]

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]]> Careful consideration, transparency needed in determining Alberta’s share of CPP: Freeland https://www.benefitscanada.com/pensions/governance-law/careful-consideration-transparency-needed-in-determining-albertas-share-of-cpp-freeland/ Mon, 18 Dec 2023 20:00:03 +0000 https://www.benefitscanada.com/?p=149006 Citing the “complicated” nature of pensions and need for all provinces and territories to weigh in, Finance Minister Chrystia Freeland wouldn’t provide a specific timeline for determining how much Alberta would be entitled to if it leaves the Canada Pension Plan. Speaking after a meeting with her provincial and territorial counterparts, Freeland said officials reported back to […]

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]]> Top 10 pension stories of 2023 https://www.benefitscanada.com/news/bencan/top-10-pension-stories-of-2023/ Mon, 18 Dec 2023 14:00:58 +0000 https://www.benefitscanada.com/?p=148984 A survey on the retirement readiness of Canadian workers and a looming retirement crisis was the most-read pension story on BenefitsCanada.com this year. Here are the 10 most popular pension news stories of 2023: 1. Survey finds 44% of Canadian pre-retirees have less than $5,000 in savings 2. Ford, Unifor agreement includes significant DC pension improvements, transition to […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-65/ Fri, 15 Dec 2023 14:00:42 +0000 https://www.benefitscanada.com/?p=148875 An article on how employers can support employees with attention deficit hyperactivity disorder was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How employers can help employees with ADHD be engaged, productive 2. FSRA’s proposed rule could increase fairness in division of pension benefits during marriage […]

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]]> Alberta government rejects amendments to CPP exit legislation https://www.benefitscanada.com/pensions/governance-law/alberta-government-rejects-amendments-to-cpp-exit-legislation/ Mon, 11 Dec 2023 14:00:14 +0000 https://www.benefitscanada.com/?p=148595 Premier Danielle Smith’s government has rejected a proposal that would have compelled it to respect the results of a referendum on whether Alberta should quit the Canada Pension Plan. On Dec. 6, the United Conservative Party’s majority government voted down an opposition amendment to Bill 2 — the Alberta Pension Protection Act — by the […]

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]]> Survey finds just 14% of near-retirees say they can retire with confidence https://www.benefitscanada.com/pensions/retirement/survey-finds-just-14-per-cent-of-near-retirees-say-they-can-retire-with-confidence/ Wed, 29 Nov 2023 14:00:35 +0000 https://www.benefitscanada.com/?p=147826 Just 14 per cent of near-retirees say they can retire with confidence and only five per cent say they’ve sought financial advice from their employer, according to a new survey by Deloitte. A third (31 per cent) of near-retirees said they’ll need to rely on the Canada Pension Plan or Quebec Pension Plan to sustain their […]

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]]> Alberta premier quiet on reason for abandoning promised in-person CPP exit consults https://www.benefitscanada.com/pensions/governance-law/alberta-premier-quiet-on-reason-for-abandoning-promised-in-person-cpp-exit-consults/ Mon, 27 Nov 2023 14:00:35 +0000 https://www.benefitscanada.com/?p=147717 Alberta Premier Danielle Smith won’t say what happened to her government’s promise to hold face-to-face meetings with citizens in December on quitting the Canada Pension Plan. However, thousands of citizens got their say or tuned in to five recent telephone town hall consultations, she said during a house question period last week, noting nearly 100,000 […]

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]]> CPP maximum pensionable earnings increasing to $68,500 in 2024 https://www.benefitscanada.com/pensions/governance-law/cpp-maximum-pensionable-earnings-increasing-to-68500-in-2024/ Wed, 08 Nov 2023 14:00:42 +0000 https://www.benefitscanada.com/?p=146705 The maximum pensionable earnings under the Canada Pension Plan is increasing to $68,500 in 2024, up from $66,600 in 2023. The employee and employer contribution rates for 2024 will remain at 5.95 per cent and the maximum contribution will be $3,867.50 each, up from $3,754.45 in 2023. The self-employed contribution rate will remain at 11.9 […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-59/ Fri, 03 Nov 2023 13:00:00 +0000 https://www.benefitscanada.com/?p=146402 An article on Lululemon Athletica Inc.’s win in the Financial wellness category at Benefits Canada‘s 2023 Workplace Benefits Awards was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Lululemon’s retirement savings plans, financial literacy initiatives lead to award win 2. Telus Communications’ commitment to psychologically safe workplace leads to […]

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