Wynne says she will discuss CPP with Trudeau
TORONTO – Ontario Premier Kathleen Wynne says the first conversation she wants to have with Justin Trudeau once he’s sworn in as prime minister will be about enhancing the Canada Pension Plan. Wynne...
View ArticleTrudeau promises Wynne federal help with ORPP
TORONTO – 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...
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The new pension debate
With Justin Trudeau now officially our Prime Minister, it’s all but a given that pension reform is coming. He said as much throughout his entire election campaign. Many questions remain, though, as to...
View ArticleORPP: Low income, part-time workers to take home less
The Wynne government appears to be forging ahead with its Ontario Retirement Pension Plan (ORPP), announcing late last week that anyone between the ages of 18 and 70 making as little as $3,500 a year...
View Article3 questions for Prime Minister Justin Trudeau
MoneySense sister publication Maclean’s will broadcast its year-end interview with Prime Minister Justin Trudeau on Wednesday in front of a live audience. (See how you can tune in.) The PM will take...
View ArticleWhat you need to know about CPP reform
Canada’s finance ministers meet in Ottawa on Sunday and Monday with a full agenda of federal-provincial issues to consider, ranging from infrastructure to equalization and health transfers to the new...
View ArticleORPP good for economy in the long run: Conference Board
TORONTO – The Conference Board of Canada says the proposed Ontario Retirement Pension Plan will mean long-term increases in income that offset the small negative effect on the economy over the...
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Are RRSPs ever a waste of time?
Q: I am a 38 year old school teacher and currently contributing to a bank RRSP. I will have a pension and am being told I am wasting my time with an RRSP. Should I stop contributing to the RRSP and if...
View ArticleWynne reveals more about proposed ORPP
TORONTO – Ontario released more details of its proposed provincial pension plan Tuesday, saying it can’t wait years for a national consensus on improving the Canada Pension Plan. The Ontario Retirement...
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CPP more costly than other public sector pensions
(Fraser Institute) The Canada Pension Plan (CPP) is more costly than five public sector pension plans, according to a new report by the Fraser Institute. The report compared the total costs, including...
View ArticleOntario government to delay ORPP rollout by one year
The Association of Canadian Pension Management is welcoming today’s announcement of a one-year delay to the Ontario Retirement Pension Plan. “We welcome it,” says ACPM chief executive officer Bryan...
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How CPP payouts work when you already have a pension
Q: I am still working at age 63 and getting CPP. I will have a pension when I retire and I have an RRSP. When I retire at age 70, I believe I will have to start withdraw from my RRSP. Because I already...
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CPP pension splitting after a divorce
Q: I am currently separated and I would also like to apply for the CPP benefit split. How much more CPP would I get doing this? How do I find out? —Leona A: CPP pension splitting is available to...
View ArticleHow changes to the CPP could affect employees
OTTAWA – Kent Peterson would forgive anyone who might think he’s got nothing to worry about when it comes to his retirement — or, for that matter, what happens to the Canada Pension Plan. After all,...
View ArticleDeal reached to revamp CPP starting 2019
VANCOUVER – Most of Canada’s finance ministers reached an agreement in principle Monday to revamp the Canada Pension Plan, although Quebec and Manitoba have not signed on to the deal. Under the...
View Article5 things to know about the CPP expansion
VANCOUVER – Finance Minister Bill Morneau met his provincial and territorial counterparts in Vancouver on Monday and reached an agreement with most of them to expand the Canada Pension Plan. Here are...
View ArticleHere’s how the Canada Pension Plan is set to change
Here are the forthcoming changes to the Canada Pension Plan agreed to Monday by the federal government and most of the provinces and territories: — Increasing the income replacement rate to one-third...
View ArticleMaking sense of the CPP expansion
Canada’s finance ministers reached an historic agreement in Vancouver on Monday: an expansion to the $44 billion-per-year Canada Pension Plan. The pressure had built for a deal in two ways. First, CPP...
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Details of increased CPP premiums released
Expanding the working income tax benefit to offset increased Canada Pension Plan premiums for low-income workers will cost the federal government $250 million per year, Finance Canada estimates....
View ArticleHow much more you’ll get from the CPP changes
After the federal and provincial finance ministers announced the expansion of the Canada Pension Plan earlier this week, many were left wondering how much more they’d have to pay and how it would...
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