The maximum pensionable earnings under the CPP for 2017 will be $55,300, up from $54,900 in 2016
This story was originally published by Benefits Canada. Canada’s retirement system maintained its score of a B on the 2016 Melbourne Mercer Global Pension Index, indicating a sound structure, many good features and some areas of improvement. To improve, Canada could develop a product for employees without a workplace pension plan, increase savings levels for […]
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Client profile Georgi Balev*, 50, just got laid off. He was a senior manager at a major engineering firm in Ottawa, Ont., where he had worked for the past 26 years. His total annual compensation, including bonus, was about $300,000. His dilemma: Does he wait until age 65 to start drawing his defined-benefit pension, or […]
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
Defined benefit pensions may be a pipe dream rooted in the past, but governments and employers haven’t created a suitable alternative—and workers deserve better.
Younger workers in particular will still receive a meagre rate of return from their CPP contributions at 2.5%.
Canada Post wants to introduce a defined contribution pension plan for new workers.
In several decades, supporters say the CPP deal, reached Monday between Ottawa and most provinces, will boost retirement security for future generations.