9.4 C
Fort St. John
Friday, April 19, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home News BC ends holdout status, CPP expansion now moving forward

BC ends holdout status, CPP expansion now moving forward

Advertisement

FORT ST. JOHN, B.C. – BC has ended a holdout status against the CPP Expansion Plan.

BC officially signed onto the agreement after an agreement was reached at a First Ministers’ meeting in July.

“Improving CPP benefits and retirement security for millions of Canadians is the most important expansion of a social program in Canada for decades,” says Irene Lanzinger, president of the BC Federation of Labour.

“So it’s good news that the federal government can now proceed with the concrete legislation needed to get the ball rolling for implementation starting in 2019.”

The deal, that was reached through Prime Minister Justin Trudeau and provincial premiers, will see CPP premiums paid by employers as well as employees increase marginally. Maximum pension benefits payable will rise from around $12,000 annually to almost $18,000.  A four-year phase would begin in 2019.

- Advertisement -

get the latest news in your inbox

Author

Advertisement

Local Events

Must Read

BC Wildfire Service reminding residents to use caution when burning outdoors

PRINCE GEORGE, B.C. - With Northeastern B.C. experiencing warm and dry weather conditions, the B.C. Wildfire Service is asking residents and industry personnel to...