Canada Pension Plan and Kevin Sorenson

Kevin Sorenson: The federal government said the target-benefit plan, also known as the shared-risk plan, can be a middle ground between defined-benefit plans, generally favoured by workers, and defined-contribution plans, which are favoured by employers, according to Huffington Post. "We need to have a third option," said Kevin Sorenson, minister of state for finance, following a speech at the Economic Club of Canada in Toronto and Ottawa unveiled a third option for pension plans Thursday, touting it as the best way to secure a retirement for more Canadians rather than move towards expanding the national Canada Pension Plan, as some provinces like Ontario have long wanted. It's billing the new framework as a "sustainable and flexible" option, which will only be available for Crown corporations and federally-regulated workers that are generally in the transportation, banking and telecommunications sectors. (www.immigrantscanada.com). As reported in the news.