Saskatchewan

Sask. finance minister argues against boosting CPP

Saskatchewan's finance minister says now is not the time to hike contributions to the Canada Pension Plan.

Kevin Doherty meeting with federal, provincial counterparts in Ottawa

Saskatchewan Finance Minister Kevin Doherty says the business community cannot withstand a mandatory hike to CPP contributions. (CBC)

Saskatchewan's finance minister says now is not the time to hike contributions to the Canada Pension Plan.

Kevin Doherty is in Ottawa for a meeting with his federal and provincial counterparts, where one item on the agenda is a boost to the CPP.

"We don't think right now, at least in our province, that the business community can withstand another mandatory contribution with respect to Canada Pension Plan," Doherty said.

"So we're not saying never, we're just saying right now is not the time."

Doherty says requiring businesses to pay more in CPP contributions will limit any business that wants to do creative, voluntary measures.

"If we say that we're going to enhance CPP, why would any employer want to engage in a pooled registered pension plan, a voluntary pension plan, now if they know for a fact that the governments of Canada are going to impose that mandatory contribution on them?" Doherty said.

CPP contributions are deducted from an employee's paycheque and must be matched by the employer.

Changes to the plan require the support of two-thirds of the provinces, with no less than two-thirds of the country's population.

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

Become a CBC Member

Join the conversation  Create account

Already have an account?

now