Nova Scotia has joined the federal government and other provinces in an agreement in principle to improve the Canada Pension Plan.
“The agreement in principle will provide enhanced security for future generations of Nova Scotians, while contributions will be modest, affordable, and phased in over seven years,” said Randy Delorey, Minister of Finance and Treasury Board from Vancouver, where he was meeting with the federal, provincial and territorial finance ministers.
“The full benefit of the enhancements will be realized by today’s younger workers when they retire.” said Mr. Delorey. ” This agreement brings us a step closer to improving the CPP.”
The agreement requires final ratification by seven of 10 provinces representing two-thirds of the national population.