Finance ministers to talk changes to value, calculation of CPP benefits
OTTAWA — Manitoba’s finance minister says he and his counterparts will take another look at changes to the Canada Pension Plan amid concerns that low-income workers and women are being shortchanged by the framework agreed to last year.
Changes agreed to last year will increase employee premiums and retirement benefits, but do not include provisions that many women use to boost the value of their retirement payments.
Nor did the changes include a bump to a death benefit that hasn’t increased in value in two decades.
The issues and policy implications of each provision and the death benefit were part of a federal report circulated to provinces in May ahead of a mandatory triennial review of the pension plan.