The Trudeau Government and its provincial governments have worked to improve the Canada Pension Plan to provide working Canadians with more income in retirement. These changes were principally motivated by the declining share of the workforce covered by an employer-defined-benefit pension plan, which h...
What Newfoundland and Labrador-based employers need to know about changes to employee leave legislation By:Julius Melnitzer February 6, 2025 Defined benefit pensions Average Canadian DB pension plan returns 1.6% in Q4 2024: report By:Staff
Quebec has opted-out of the Government of Canada’s program. Instead, residents of Quebec may receive the Quebec Pension Plan (QPP) with similar characteristics to the Canada Pension Plan. Old Age Security (OAS) The Old Age Security pension is the second of Canada’s federal pension plans av...
Innovation, Science and Economic Development Canada helps employees plan for life after work with retirement planning assistance services, contributions to a defined benefit pension plan and a health benefits plan that extends into retirement with no age limit -- and employees may be able to take ad...
federal employee pension planThe pension plans of federal government employees are relatively generous and badly underfunded, with the Pension Plan for Members of Parliament (MPs), which covers members of the House of Commons and the Senate, standing out on both counts. The MP plan promises much...
Discusses a way for Canadians to legally avoid the Canada Pension Plan (CPP). The CPP as a requirement by the government that only gives workers a one-percent return when they retire; Use of Employee Profit Sharing Plans (EPSPs) as a legal way to avoid contributing to the CPP; Details ...
sadie janes december 20, 2024 09:00 top 5 hr, benefits, pension and investment stories of the week an article on the federal government’s decision to transfer a $1.9 billion public pension surplus to general revenue was the most-read story on benefitscanada.com this… by: staff december ...
Just like regular pay, you’ll likely need to apply the standard employee source deductions for income tax, Canada Pension Plan, and Employment Insurance to the employee’s bonus. Yourpayroll softwarewill calculate those amounts for you and include it in your regular remittance to the Canada Rev...
Public Services and Procurement Canada, Quebec region helps employees plan securely for the future with a defined benefit pension plan and health benefits that extend to retirees (with no age limit and 50 per cent premium coverage) Public Services and Procurement Canada, Quebec offers a comprehensive...
As the employer, you can deduct your part of these components that form part of an employee’s salary package: Government pension plans (Canada and Québec) Provincial parental insurance plan premiums (an income replacement plan in Québec) ...