Manitoba Agrees to Strengthen the Canada Pension Plan (CPP) and the Retirement Security of Canadians
July 7, 2016 – Ottawa, Ontario – Department of Finance Canada
Finance Minister Bill Morneau today issued the following statement:
“On June 20th, Canada’s Finance Ministers came together to help middle class Canadians achieve a safe and secure retirement by strengthening the CPP for generations to come. At that time, the newly elected government of Manitoba indicated its intent to give the matter careful consideration. Today, I am pleased to welcome Manitoba to this historic agreement-in-principle, which now includes all CPP participating provinces.
“A stronger CPP comes at a time when people in the middle class are working harder than ever, but don’t always feel like they’re getting ahead. Too many people are worried that they won’t have enough money for their retirement and fewer and fewer—particularly young people—have workplace pensions to fall back on.
“I want to thank Premier Pallister and Minister Friesen for their hard work and ongoing dedication to the people of Manitoba. Their contributions before, during and following the meeting in Vancouver were substantive and deeply appreciated. I look forward to our ongoing collaboration and discussions.
“I want to thank all my provincial and territorial colleagues for their important contributions to the future of the CPP and to the retirement security of current and future generations. We have truly shown that Canada works best when its governments come together in the interest of the people we serve.”
Notes: The agreement-in-principle now includes the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and Labrador, with Quebec agreeing to remain part of the discussions moving forward in recognition of the unique nature of the Quebec Pension Plan. All have agreed to work towards confirming the approval of their respective governments by July 15th.
Director of Communications
Office of the Minister of Finance
Department of Finance Canada