The Government’s plan for a strong and growing middle class includes helping Canadians achieve their goal of a safer, secure and dignified retirement.
Minister of Finance Bill Morneau marked the final step in implementing an improved Canada Pension Plan (CPP) today by announcing that the Governor General has signed the Order in Council to bring the CPP enhancements in Bill C-26 into force, meaning all necessary legislative requirements have been met by Canada’s governments to implement the agreed-upon enhancements. Minister Morneau was joined by Mississauga Mayor Bonnie Crombie, former Mississauga Mayor Hazel McCallion, and Mississauga Centre MP Omar Alghabra at the event.
The strengthened CPP will provide more money to Canadians when they retire, so that they can worry less about their savings and focus more on enjoying time with their families.
As joint stewards of the CPP, the Government of Canada and Canada’s provincial governments worked cooperatively towards reaching an historic agreement on June 20, 2016 in Vancouver to strengthen the CPP and meaningfully reduce the risk of not saving enough for retirement.
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