Preparing for change

CPP/QPP enhancements not too far on horizon
By Rachel De Grâce
|Canadian HR Reporter|Last Updated: 08/30/2018
Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act, which received royal assent on Dec. 15, 2016, will officially usher in changes to the CPP. Credit: Facto Photo (Shutterstock)

In June 2016, after years of discussions, the federal government reached an agreement in principle with provincial and territorial finance ministers to strengthen the Canada Pension Plan (CPP).

For those tasked with implementing the CPP enhancement on behalf of their employers — including those in payroll, human resources and accounting — regulatory and administrative compliance will require careful consideration.

Beyond that, these professionals will need to be able to clearly explain and communicate changes and challenges of the CPP enhancement to both employers and employees.