Human Resources Legislative Update
Federal Government Issues Fall Economic Statement
Date: November 22, 2018
On November 21, 2018, the federal government issued its Fall Economic Statement 2018, “Investing in Middle Class Jobs” (Statement).
Among other things, the Statement:
- reiterates the Budget 2018 commitment of an evidence-based approach towards addressing retirement security and announces that targeted consultations will soon be launched as the government continues to explore ways to enhance retirement security. Recent measures include enhancements to the Canada Pension Plan (CPP), which will be gradually phased in starting in January 2019. As previously reported, the enhanced CPP will provide:
- increased retirement benefits for parents who take time off work to care for young children and persons with disabilities
- increased survivor’s pensions for certain individuals
- a top-up disability benefit for certain persons, and
- an increase to the death benefit for all eligible contributors.
- confirms that the recently announced employment insurance (EI) premium rate reduction (reduced to $1.62 per $100 of insurable earnings, starting in 2019) is projected to remain unchanged through to 2026
- reviews the recently tabled legislation to enact a federal pay equity framework (for more information on this initiative, see our Federal Post of November 2, 2018 Federal Government Proposes Significant Workplace Law Reforms)
- affirms its commitment to closing the gender wage gap in Canada.