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Current Developments

Federal Budget 2017

Posted by David Gobeil on

In the letter to candidates confirming their registration for the exam, The FPSC advises candidates that they are responsible for legislation that has received Royal Assent at least one month before the exam. It is unlikely that Budget 2018 will be passed into law before the cut-off date. However, Budget 2017 has already been passed and you might not be aware of the changes. On June 22, 2017, Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures, received Royal assent. So, you are responsible for the changes in the...

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Changes to Canada Pension Plan

Posted by David Gobeil on

As joint stewards of the Canada Pension Plan (CPP), the federal and provincial Ministers of Finance review the CPP every three years to ensure it continues to respond to the needs of retirees, workers and employers.  As part of the 2016-2018 Triennial Review, the Ministers agree in principle to move forward as of 2019 with five changes to CPP benefits:  increasing the retirement pensions of parents who reduce their income to take care of their children; increasing the retirement pensions of people with disabilities, as well as their spouse or common-law partner’s survivor’s pension; eliminating the reductions in survivor’s pension...

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Canada Pension Plan Enhancement

Posted by David Gobeil on

On June 20, 2016, Canada’s Ministers of Finance reached an agreement in principle to enhance the CPP.  The deal will increase how much working Canadians will get from the CPP: from one-quarter of their eligible earnings, to fully one-third, with an increase to the earnings limit. The governments will phase these changes in over 7 years, from 2019 to 2025, so that the impact is gradual.  The Enhanced CPP has the following design features:  the income replacement level will increase from one-quarter to one-third of income; the amount of the retirement pension, as well as the survivor’s and disability pensions...

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