Ottawa, provincial finance ministers set for showdown on CPP enrichment - InfoNews

Current Conditions

Cloudy
3.5°C

Ottawa, provincial finance ministers set for showdown on CPP enrichment

Federal Finance Minister Jim Flaherty delivers an update of economic and fiscal projections in Edmonton on November 12, 2013. Canada's finance ministers begin two days of meetings today, and pension issues are expected to dominate the discussions. Some provincial ministers have been pressing federal Finance Minister Jim Flaherty to take steps to boost the Canada Pension Plan to ensure seniors have adequate income. THE CANADIAN PRESS/Jason Franson
December 15, 2013 - 1:00 AM

OTTAWA - Canada's finance ministers begin two days of meetings today, and pension issues are expected to dominate the discussions.

Some provincial ministers have been pressing federal Finance Minister Jim Flaherty to take steps to boost the Canada Pension Plan to ensure seniors have adequate income.

Ontario Finance Minister Charles Sousa has said he'll look at proposals for his province to proceed on its own if the federal government doesn't act.

Sousa says the province has a critical mass of people to support what he calls "made-in-Ontario opportunities."

Most CPP enhancement proposals call for roughly a doubling of the maximum annual CPP benefit above the current $12,150.

It would mean doubling premiums that are split equally between workers and employers, something that doesn't sit well with business groups.

The Harper government has said CPP premiums are a job-discouraging payroll tax.

News from © The Canadian Press, 2013
The Canadian Press

  • Popular kelowna News
  • Comments
View Site in: Desktop | Mobile