CPP benefits to increase by 1.2%
Finance Minister Bill Morneau will be meeting with his provincial and territorial counterparts as soon as possible to start working on increasing the CPP benefit, Advisor reports. This is according to Prime Minister Justin Trudeau’s mandate letter to Morneau, which lists CPP expansion as a top priority. That letter was made public on Nov. 13. […]
Canada’s governments should act now to reform the Canada Pension Plan, says the Canadian Institute of Actuaries. Federal and provincial governments have a “once-in-a-generation opportunity to ensure Canada’s retirement system meets the needs of current and future retirees,” says Rob Stapleford, president of the actuaries’ institute. “The pension stars have aligned for Prime Minister Trudeau—his […]
The debate about the merits of the proposed Ontario Retirement Pension Plan (ORPP) and a mandatory CPP expansion versus private pensions continues. But proposal opponents have failed to take into account key data about the costs of the public and private models. If you do the math, it turns out the public pension model has an advantage.
Justin Trudeau was greeted like a rock star as he arrived at the Ontario legislature Tuesday for a meeting with Premier Kathleen Wynne, and rewarded her campaign efforts on his behalf with a promise of federal help for a provincial pension plan. Wynne, one of Trudeau’s most ardent supporters during the federal campaign, gave the […]
Justin Trudeau is showing how dramatically the federal government’s relationship with Ontario has changed, making his first meeting with a premier since last week’s Liberal election victory in Ontario Premier Kathleen Wynne’s office. Wynne campaigned frequently alongside Trudeau and other Liberal candidates in Ontario throughout the lengthy federal campaign, and was beaming the morning after […]
Ontario Premier Kathleen Wynne says the first conversation she wants to have with Justin Trudeau once he’s sworn in as prime minister will be about enhancing the CPP. Wynne says her Liberal government will proceed with mandatory payroll deductions starting Jan. 1, 2017 for the new Ontario Retirement Pension Plan, which essentially mirrors the CPP […]
The Liberal Party of Canada has just won a majority government, which means Canadian workplaces will see more discussions about saving for retirement, industry experts point out. During the election campaign, the Liberals promised to increase the monthly CPP benefit. At the same time, the Ontario government recently announced that if the Liberals come to […]
Notwithstanding a possible Liberal majority in next week’s federal election, and the idea that it would “negate” the need for an Ontario Retirement Pension Plan (ORPP), according to Ontario Premier Kathleen Wynne, awareness of the plan remains scattered, at best. This and other findings were discussed as part of a larger Benefits Canada survey presented […]
The underfunding the QPP saw during its early years offers lessons for the upcoming Ontario Retirement Pension Plan (ORPP)—as well as for a potentially expanded version of the CPP, argues a new C.D. Howe Institute report. Read: Businesses scared of ORPP’s economic impact The report says federal and Ontario lawmakers should avoid the inter-generational inequity […]