Federal Government: Canada Pension Plan

Canada Pension Plan: Host Premier Kathleen Wynne's top priority for the meeting is reforming the Canada Pension Plan, warning there will be a huge financial crisis if action isn't taken now, according to CTV. But Nova Scotia, Alberta and the federal government are worried a hike in premiums, which are split evenly between workers and employers, would be the same as increasing taxes on businesses and could kill jobs and TORONTO -- Canada's provincial and territorial premiers will be discussing pensions and the federal job grant program when they meet in Toronto today. Newfoundland and Labrador and Prince Edward Island also want CPP improvements, with PEI proposing to hike maximum CPP contributions to $4,681.20 a year from $2,356.20 and boosting maximum annual benefits to $23,400 from $12,150. (www.immigrantscanada.com). As reported in the news.