Almost 90% of Canadians plan to rely on the Canada Pension Plan/Quebec Pension Plan (CPP/QPP) to cover costs during their golden years, according to a BMO Financial Group study.
Former Prime Minister Paul Martin will advise the Ontario Liberal government on the feasibility of a provincially-run pension, reports the National Post.
Those already getting CPP will see their benefits increase 0.9% in the new year, says the federal government.
54% say tax cuts are the best option to boost retirement savings, finds a CFIB poll.
It requires all companies in the province with five or more full-time employees to offer a workplace retirement plan.
The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2014 will be $52,500—up from $51,100 in 2013.
The government’s proposed CPP changes would be phased in over 50 years.
CPP ended the first quarter of the 2014 fiscal year on June 30, 2013, and it reported net assets of $188.9 billion.
BT Pension Scheme and CPP have formed a joint venture partnership.
Pensions legislation is failing in Canada.