As the government moves forward on enhancements to the Canada Pension Plan, critics are raising concerns about the absence of a dropout clause for parents who temporarily stop working in order to care of their children. The current CPP allows parents to exclude time away from work during child-rearing years when calculating their contributions. It also […]
Canada’s governor general has signed an order in council to bring the Canada Pension Plan enhancements in Bill C-26 into force, marking the final step in implementing the expanded plan, according to a release from the Ministry of Finance. It noted Canada’s provincial governments have now met all necessary legislative requirements to implement the agreed-upon enhancements. […]
Head of CPPIB reflects on demographic similarities between the two countries
China sees Canada as a valuable source of expertise as both countries grapple with the needs of an aging population that’s increasingly retired, according to the head of the Canada Pension Plan Investment Board. “China faces very similar demographic issues and pension challenges that Canada has faced and continues to face. When you put the […]
Government flat out declines Liberals' economic advisory council suggested age raise.
The federal government’s advisory council on economic growth has released its second wave of recommendations that include extending the age of eligibility for the Canada Pension Plan, establishing a reasonable process for requesting flexible working arrangements and creating a universal subsidized childcare program to get more women into the workforce. The advisory council believes allowing CPP and […]
Though Canada’s retirement income system was ranked eighth among 27 countries by the 2016 Melbourne Mercer Global Index, it also revealed the weaknesses in our retirement system. These weaknesses include that: three in four private sector workers don’t have access to an employer-sponsored pension plan; the level of household savings for middle-income earners is insufficient; […]
While the Association of Canadian Pension Management is in favour of enhancing the Quebec Pension Plan, it’s calling for a targeted solution to the problem of inadequate retirement income in the province. In a submission to the public consultation on QPP reform, Bryan Hocking, the association’s chief executive officer, noted that any changes to Quebec’s retirement […]
Despite the federal government’s plan to move ahead with reforms to the Canada Pension Plan, a recent survey by Aon Hewitt has found only 35 per cent of employers will be preparing for the changes this year. Only 13 per cent of 250 Canadian employers surveyed in October had already started planning for the CPP reform, […]
Manitoba has joined the other provinces in working towards enhancing the Canada Pension Plan, though Premier Brian Pallister said the province’s agreement with the federal government includes additional research and analysis on several proposals it had set out at the end of June. Manitoba had opted out of the agreement struck in Vancouver on June […]