News - Canada Pension Plan

The province has reached an agreement with the federal government for additional research and analysis to be conducted on several proposals made by the province to further modernize the Canada Pension Plan.

The province has released details of its proposed enhancements to the Canada Pension Plan Agreement in Principle tabled at a recent meeting of federal, provincial and territorial finance ministers.

The value of retirement assets of those aged 55 to 64 without an employer pension – representing about half in this age cohort in Canada – is wholly inadequate, with a median value of only $250 for those earning between $25,000 and $50,000 and $21,000 for those with incomes in the $50,000 and $100,000 range, a new study has found.

Finance Minister Rosann Wowchuk has vowed to make enhancements to the Canada Pension Plan (CPP) a priority at the meeting of federal, provincial and territorial finance ministers this weekend in Kananaskis, Alta.