Enhancements to the Canada Pension Plan
On , federal, provincial and territorial Finance Ministers agreed to enhance the Canada Pension Plan for future generations of Canadians. On , the Government of Canada introduced legislation in Parliament that would implement the changes. These enhancements would be phased-in beginning in 2019.
The Canada Pension Plan is a contributory public pension plan that provides a basic level of earnings replacement in retirement for workers throughout Canada, except in the province of Quebec. Workers in Quebec are covered by the Quebec Pension Plan, which provides similar benefits.
The Government of Canada contributes to both the Canada Pension Plan and federal public sector pension plans. Together, these plans provide public service employees, Members of the Royal Canadian Mounted Police and members of the Canadian Armed Forces with a predictable stream of income in retirement.
Like other employers who provide a workplace pension plan that is integrated with the Canada Pension Plan, the Government of Canada is assessing what proposed enhancements to the Canada Pension Plan could mean for the public sector pension plans.
More detailed information will be provided, as it becomes available. For information on the public service pension plan, please visit Pension and benefits.
For additional information about the Canada Pension Plan Enhancement, visit the Backgrounder: Canada Pension Plan (CPP) Enhancement.
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