The Strengthened Canada Pension Plan will help more residents
of King-Vaughan achieve a safe, secure and dignified retirement
November 2, 2017– Middle class Canadians are working harder than ever, but many are worried that they won’t have enough put away for their retirement. One in four families approaching retirement—1.1 million families—is at risk of not saving enough. That’s why the Government of Canada is committed to helping Canadians achieve their goal of a secure retirement and has worked with the provinces and territories to strengthen the Canada Pension Plan (CPP).
As noted, the enhancement will:
- give Canadians a more generous public pension system that will help them retire in dignity
- significantly reduce the number of families at-risk of not saving enough for retirement, by boosting how much each Canadian will get from their CPP pension
- ensure there is more money from the CPP waiting for Canadians when they retire, giving them more money to spend on their needs, like healthy food, transportation, and housing costs.
Get the details, here!
“Once fully in place, an enhanced CPP will put up to 50% more into the pockets of retirees, enabling them to focus on the more important things in their lives, like creating valuable memories with their loved ones. I would like to extend my sincerest thanks to the provinces and territories for working in common purpose to make the enhanced CPP a reality for the benefit of today’s and future generations.”
-Bill Morneau, Minister of Finance