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Manitoba, Quebec only provinces to not sign Canada Pension Plan agreement

By The Staff Global News
Posted June 21, 2016 6:00 am
1 min read
Federal Finance Minister Bill Morneau, centre, is flanked by his provincial and territorial counterparts as he speaks during a news conference after reaching a deal to expand the Canada Pension Plan, in Vancouver, B.C., on Monday June 20, 2016. THE CANADIAN PRESS/Darryl Dyck.
Federal Finance Minister Bill Morneau, centre, is flanked by his provincial and territorial counterparts as he speaks during a news conference after reaching a deal to expand the Canada Pension Plan, in Vancouver, B.C., on Monday June 20, 2016. THE CANADIAN PRESS/Darryl Dyck. THE CANADIAN PRESS/Darryl Dyck
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Provincial finance ministers met with their federal counterparts in Vancouver on Monday and agreed to enhance the public pension plan.

Premiums will be boosted by $7 per month starting in 2019.

The only provinces that didn’t sign the agreement were Manitoba and Quebec, which has its own pension plan.

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READ MORE: 5 things you need to know about proposed CPP deal

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By 2023, an extra $34 a month in premiums to be matched by employers, will mean up to $4,300 more in annual payouts come retirement time for the average wage earner.

 

 

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