Provincial and territorial finance ministers reached an agreement on conditions to expand the Canada Pension Plan on Friday.
The Government of Ontario wants the Canada Pension Plan (CPP) to be improved and will set up its own plan if needed.
The Professional Institute of the Public Service of Canada (PIPSC) wants New Brunswick to slow down the current pension reform process.
Reform of Canada’s public sector pension plans is no longer limited to active employees—increasingly governments are willing to address expensive components of retiree pensions as a part of their reform initiatives.
Prince Edward Island plans to make changes to its public sector pensions, including eliminating guaranteed cost-of-living adjustment increases.
Detroit has proposed freezing the city’s two employee pension plans at the end of the year. Members of the General Retirement System and the Police and Fire Retirement System would move to a DC plan under the proposal. The city would contribute 10% of base pay for police officers and firefighters to the plan because […]
One of the general rules of statutory interpretation is that a statute or regulations only apply on a go-forward basis from the date of coming into force. An exception to that rule is where a statutory provision is clearly drafted to apply retrospectively. As the Supreme Court of Canada recently confirmed, legislatures are even able to enact declaratory legislation that applies to ongoing disputes before a court.
The St. John’s Board of Trade wants the Government of Newfoundland and Labrador to take immediate action and a set clear timeline to implement pension reform.
Public sector retirees in New Brunswick are meeting this week and next to discuss the province’s decision to implement a shared-risk pension plan.
The Government of Alberta has proposed a number of changes to public sector pensions such as no benefit improvements until 2021 and a reduction in cost-of-living adjustments.