On October 6, 2016, the federal government introduced Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act to enhance the Canada Pension Plan (CPP), Canada's government provided pension plan.
Ontario Retirement Pension Plan
The Ontario Retirement Pension Plan (ORPP) seemed like a sure thing—until it wasn’t. On June 20, 2016, Bill Morneau, the federal Minister of Finance, and eight of ten provincial finance ministers did what many to this point thought was impossible: reach an agreement in principle to expand the Canada Pension Plan (CPP).
On June 20, 2016, the federal government Finance Minister reached an agreement in principle with most of the provincial and territorial Finance Ministers to strengthen the Canada Pension Plan (CPP) for future generations of Canadians.