Government of Canada Welcomes British Columbia's Support for a Stronger Canada Pension Plan
Minister of Finance Bill Morneau and Minister of Families, Children and Social Development Jean-Yves Duclos today welcomed British Columbia’s support for CPP enhancement, paving the way for implementation of the historic agreement that will ensure future generations of Canadians can count on a more generous public pension system in their retirement years.
All nine CPP participating provinces have now confirmed their support for the agreement concluded on June 20, 2016 in Vancouver.
The Government of Canada is moving forward with legislation to enact the CPP enhancement. Yesterday, it tabled a Notice of Ways and Means Motion for the tax measures that are part of the agreement in principle on CPP enhancement, and Ministers Morneau and Duclos will introduce legislation in Parliament very shortly to implement the full agreement.
Quotes
“Once fully in place, an enhanced CPP will put up to 50% more into the pockets of retirees, enabling them to focus on the important things in their lives, like creating valuable memories with their loved ones. I would like to thank Minister Michael de Jong once again for his leadership in helping us come to an historic agreement on a stronger CPP last June, and for his Government’s full support of enhancing retirement security for Canadians.”
- Bill Morneau, Minister of Finance
“Helping Canadians achieve a safe, secure and dignified retirement is a central part of the Government of Canada’s plan to help the middle class and those working hard to join it. A stronger Canada Pension Plan is a core promise we made to Canadians, and we are very proud of the collaboration with provincial colleagues to improve the retirement income security of current and future generations.”
- Jean-Yves Duclos, Minister of Families, Children and Social Development
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