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National News

10/31/2014 - 10:00
Minister of Public Works and Government Services, and Minister responsible for Southwestern Ontario, Diane Finley, today highlighted new proposed measures to make life more affordable for Canadian families and to help them prosper.
10/31/2014 - 09:52
Parm Gill, Parliamentary Secretary to the Minister of Veterans Affairs, on behalf of the Honourable Julian Fantino, Minister of Veterans Affairs, will attend the official unveiling and grand opening ceremony of the Wounded Warriors Canada Park of Reflection.
10/31/2014 - 09:48
The Government of Canada recognizes the importance of immigration in fueling economic growth and is planning to welcome between 260,000 and 285,000 new permanent residents in 2015, an increase of approximately 19,000 planned admissions over last year.
10/31/2014 - 09:44
The Government of Canada is planning to welcome between 260,000 and 285,000 new permanent residents in 2015, an increase of approximately 19,000 planned admissions over last year. The Family Class category will account for almost 25 percent of new immigrants to Canada in 2015.

STRAHL URGES PASSAGE OF NEW RETIREMENT SAVINGS VEHICLE

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Ottawa- Speaking in the House of Commons, Chilliwack-Fraser Canyon MP, Mark Strahl, urged passage of Bill C-25: Pooled Registered Pension Plans Act.

"Hardworking Canadians, without a private pension plan, have called for this type of retirement savings vehicle." Strahl added, "Passage of this bill will mark a significant step forward in securing their retirement."

Pooled Registered Pension Plans (PRPP) will allow small and medium sized businesses, their employees and those who are self-employed to pool their money to provide for accessible, straightforward and administratively low-cost pension plan by reducing the legal and administrative burden faced by employers. It is because of these costs that 60 per cent of Canadians don't have access to a private pension plan.

According to Strahl, PRPPs offer a number of benefits, including:

  • easy enrolment due to low administrative cost and simple arrangement,
  • flexibility for employees and employers in setting their contribution amounts; and
  • portability, allowing employees to move their account as they change careers and employers.

"Millions of Canadians stand to benefit from access to this new low-cost pension plan with the passage of this bill."

For more information, please visit: http://www.fin.gc.ca/act/prpp-prac/index-eng.asp

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