This Quick Reference provides a useful overview and new insight for employers and employees who have to deal with the somewhat unfamiliar terrain of public pensions and employment insurance, especially where those programs directly intersect with employment situations. The Guide details the history and development of the Canada Pension Plan, how it is administered, and specific information about the types of benefits available as well as the manner and timing of benefit payments. In this newly updated edition, the authors have tried to reflect a more developed view about the state of public pension plans in light of rapid changes to the economy and investment strategies. This edition also includes several chapters designed to assist employers, unions, employees and the self–employed in understanding the Employment Insurance Act
: Employment Insurance benefits, EI adjudicative process, Record of Employment (ROE), structuring settlements and damages, federal work-sharing program, private pension plans, and the future of Employment Insurance.
NEW IN THE 2013 EDITION:
Highlights of the updates and revisions in the 2013 edition of the Quick Reference include:Employment Insurance
CPP and Old Age Security
- Information regarding the new Employment Insurance program, Working While on Claim pilot project
- Information regarding the extension of parental leave benefits to parents who commit to adopting children in their care
- Discussion regarding the implications of The Atlantic Council of Canada v. M.N.R., 2012 TCC 13 (CanLii), a tax court decision which held that an intern who received a scholarship was not an employee for purposes of EI and CPP payments
- Discussion regarding amendments to the Employment Insurance Act to modify the Employment Insurance premium rate – setting mechanism
- Government's requirement that the rate be set on a seven–year break–even basis once the Employment Insurance Operating Account returns to balance and limiting EI premium rate increases to 5 cents each year until the EI Operating Account is balanced
- Information regarding the phasing out of SIN cards by 2014
- Review of amendments to the Canada Employment Insurance Financing Board Act
- Review of the changes introduced by the 2012 federal budget, including amendments to the Employment Insurance Act in respect of the following:
- Permitting a person's benefits to be determined by reference to their highest earnings in a given number of weeks;
- Permitting regulations to be made respecting what constitutes suitable employment;
- Removing the requirement that a consent to deduction be in writing;
- Providing a limitation period within which certain repayments of overpayments need to be deducted and paid; and
- Clarifying the provisions respecting the refund of premiums to self–employed persons.
- Discussion regarding Government's plan to implement changes starting on April 2023, to the eligibility for OAS and the Guaranteed Income Supplement which will be gradually increased from 65 to 67
- Introduction of the option of deferring take–up of OAS benefits to a later time and receiving higher annual benefits.
- Discussion regarding Government's commitment regarding pension plans for public servants and Parliamentarians are sustainable, fair and financially responsible.
- Introduction of Pooled Registered Pension Plans that provide an accessible, large–scale and low–cost pension option to employers, employees and the self-employed.