It's important to address clients' retirement fears
Explaining a poorly understood mechanism
All clients are affected, not only those in their 60s
CRA accepts four of five recommendations
This story originally appeared on BenefitsCanada.com. 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 […]
This means all nine participating provinces have agreed to move forward with CPP changes. The Government of Canada is advancing legislation to enact the CPP enhancement.
The existing CPP is on sustainable financial footing at its current contribution rate and its assets are projected to grow from $285 at the end of 2015 to $476 billion by 2025
The new Real Assets department brings together the Real Estate Investments department and the existing Infrastructure and Agriculture groups.
Younger workers in particular will still receive a meagre rate of return from their CPP contributions at 2.5%.
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.