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Canada : Chief Actuary Confirms Canada Pension Plan Is Solid, and Sustainable Over the Long Term.

Middle class Canadians are working harder than ever, but many are worried that they wont have enough put away for their retirement. One in four families approaching retirement1.1 million familiesare at risk of not saving enough. That is why a stronger Canada Pension Plan (CPP) is a key part of the promise that the Government of Canada made to Canadians to help the middle class and those working hard to join it.

Today, Minister of Finance Bill Morneau tabled the Chief Actuarys 28th Actuarial Report on the CPP in Parliament. The report confirms that the contribution and benefit levels proposed under the CPP enhancement agreed upon by Canadas governments on June 20, 2016 will be sustainable over the long term, ensuring that Canadian workers can count on an even stronger, secure CPP for years to come.

On October 6, 2016, the Government of Canada delivered on its commitment to a stronger CPP with the introduction of legislation in Parliament to implement the agreement reached by Canadas governments to enhance the CPP to give Canadians a stronger public pension that will help them retire in dignity.

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Publication:Mena Report
Geographic Code:1CANA
Date:Oct 29, 2016
Words:199
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