With finance ministers discussing potential enhancements to the Canada Pension Plan in Vancouver today, what would you like to see come out of today’s talks? As Benefits Canada reported last week, a flurry of proposals are on the table as ministers discuss the issue in Vancouver. Ontario Premier Kathleen Wynne has pushed hard for a broad-based enhancement […]
A briefing book prepared last fall for incoming Finance Minister Bill Morneau warns that Canada’s spending on public pensions is dramatically lower than many other rich countries – even though private-sector pension coverage has deteriorated. The document, obtained by The Canadian Press, said that between 1991 and 2013, private-sector pension coverage fell from 31 per […]
While Manitoba’s Progressive Conservatives have been silent about their stance on an expansion to the Canada Pension Plan, experts predict the party’s victory Tuesday could mean the province won’t support CPP expansion. “Progressive Conservatives are not going to touch anything that in any way is going to affect business adversely,” says Meir Serfaty, professor of political science at […]
The Association of Canadian Pension Management is hoping to see a series of pension consultations announced by the Ontario government when it shares the details of its 2016 Budget on Thursday. In its fall statement, Building Ontario Up, announced on Nov. 26, the provincial government said it would focus on a series of initiatives to […]
The Canada Pension Plan will be enhanced in 2016, says federal Finance Minister Bill Morneau. “Our goal is to work together with all provinces and territories to get to a Canada Pension Plan enhancement, and our aim is to do that in a collaborative way this calendar year,” he told the House of Commons on […]
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 […]