Canada's pensioners benefiting from a new plan

Canada's pensioners would have the opportunity of greater payouts amid the nation's provinces having agreed, today, on a principle in supporting the expansion of the national pension scheme where the premiums will be increasing moderately throughout time.

Canada's new pension scheme as of 2019

The scheme will be operational as of 2019 and on a seven years scale. The restructuring of the nation's pension plan requires the support of 7 out of 10 provinces, and the Canadian federal government, representing 67% of the population.

Following the previous scheme's refusal, this outcome prompted the Liberal government of Ontario to come up with a scheme in the absence of a national solution.

Ontario's proposal is currently under revision, and it will be formalized in the upcoming weeks once approved.

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