High-level leaders from all over Canada met recently in order figure out how to handle the current issues posed by the Canadian Pension Plan.
CTV reports that federal and provincial finance ministers met recently in Alberta to come to an agreement on what should be done about the growing concern over the CPP. The country's finance minister, Jim Flaherty, said that the group had gathered in order to find ways to strengthen the economy and get companies back on their feet.
Under the agreements reached, provinces will create Pooled Registered Pension Plans or PRPPs. This will allow individual municipalities to divide how much business owners must contribute.
"We are all concerned about the economic recovery. We want to make sure the jobs continue to grow in Canada and so there is concern about not putting more burdens on employers right now," said Finance Minister Jim Flaherty Monday afternoon.
Flaherty made other headlines recently when announcing a new government investment plan for small businesses. Under the plan, a new fund worth $40 million will be set up in order to help companies in the fields of technology, environment and health.
