Over the past few months I have attended various presentations concerning the changes being made to the Canada Pension Plan (CPP).
These changes have primarily come about to accommodate the changes in our country’s demographic makeup. People are living and working longer and as a result, exploring the potential of needing to save more money for life after work. As a result, the Canadian Pension Plan is changing.
The following is a brief outline of the 4 amendments being gradually implemented from 2011 to 2016:
- Restore the adjustment factors to their actuarially fair levels for retirement pensions taken before and after age 65.