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Inside Internal Controls

News and discussion on implementing risk management

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CPP contributions

Changes to the Canada Pension Plan

It is important for employers, sooner rather than later, to start thinking about whether any changes need to be made to payroll costs in order to address the costs of an expanded CPP and whether amendments to pension and benefits plans will be required to accommodate the more generous CPP benefit.

 

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An expanded Canada Pension Plan (and a very questionable future for the Ontario Retirement Pension Plan)

The Ontario Retirement Pension Plan (ORPP) seemed like a sure thing—until it wasn’t. On June 20, 2016, Bill Morneau, the federal Minister of Finance, and eight of ten provincial finance ministers did what many to this point thought was impossible: reach an agreement in principle to expand the Canada Pension Plan (CPP).

 

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