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Quebec Pension Plan
The Canada Pension Plan (CPP; ) is a contributory, earnings-related social insurance program. It is one of the two major components of Canada's public retirement income system, the other being Old Age Security (OAS). Other parts of Canada's retirement system are private pensions, either employer-sponsored or from tax-deferred individual savings (known in Canada as a registered retirement savings plan). As of June 30, 2024, CPP Investments (CPPIB) manages over C$646 billion in investment assets for the Canada Pension Plan on behalf of 22 million Canadians. CPPIB is one of the world's largest pension funds. Description The CPP mandates all employed Canadians 18 years of age and over to contribute a prescribed portion of their earnings income (with an equal matching amount contributed by their employer) to a federally administered pension plan. The plan is administered by Employment and Social Development Canada on behalf of employees in all provinces and territories except Quebe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Insurance
Social insurance is a form of Social protection, social welfare that provides insurance against economic risks. The insurance may be provided publicly or through the subsidizing of private insurance. In contrast to other forms of Welfare spending, social assistance, individuals' claims are partly dependent on their contributions, which can be considered insurance premiums to create a common fund out of which the individuals are then paid benefits in the future. Types of social insurance include: * Universal health care, Public health insurance * Social Security (United States), Social Security * Unemployment Insurance, Public Unemployment Insurance * Public auto insurance * Parental leave, Universal parental leave Features * The contributions of individuals is nominal and never goes beyond what they can afford * the Social welfare, benefits, eligibility requirements and other aspects of the program are defined by statute; * explicit provision is made to account for the incom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
29th Canadian Ministry
The Twenty-Ninth Canadian Ministry was the Cabinet of Canada, Cabinet, chaired by Prime Minister of Canada, Prime Minister Justin Trudeau, that began governing Canada shortly before the opening of the 42nd Parliament of Canada, 42nd Parliament. The original members were sworn in during a ceremony held at Rideau Hall on November 4, 2015. Those who were not already members of the King's Privy Council for Canada, Privy Council were sworn into it in the same ceremony. At the time of its dissolution, the Cabinet consisted of 35 members including Trudeau, with 17 women and 18 men. When the ministry was first sworn in, with 15 men and 15 women (aside from Trudeau), it became the first gender-balanced cabinet in Canadian history. Trudeau carried out four major cabinet shuffles: one in 2018, one in 2021, one in 2023, and another in 2024. On October 26, 2021, one month after the 2021 Canadian federal election that gave the governing Liberal Party a second minority mandate; the ministry u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quarterly
A magazine is a periodical literature, periodical publication, print or digital, produced on a regular schedule, that contains any of a variety of subject-oriented textual and visual content (media), content forms. Magazines are generally financed by advertising, newsagent's shop, purchase price, prepaid subscription business model, subscriptions, or by a combination of the three. They are categorised by their frequency of publication (i.e., as weeklies, monthlies, quarterlies, etc.), their target audiences (e.g., women's and trade magazines), their subjects of focus (e.g., popular science and religious), and their tones or approach (e.g., works of satire or humor). Appearance on the cover of print magazines has historically been understood to convey a place of honor or distinction to an individual or event. Term origin and definition Origin The etymology of the word "magazine" suggests derivation from the Arabic language, Arabic (), the broken plural of () meaning "depot, s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crown Corporations Of Canada
Crown corporation () is the term used in Canada for organizations that are structured like private companies, but are directly and wholly owned by the government. Crown corporations have a long-standing presence in the country, and have a significant economic impact, with commercial operations equivalent to 7% of Canadian GDP. Crown corporations are created to advance government policy objectives. Often they provide services to the public that are not economically viable for a private enterprise, or that do not fit exactly within the scope of any ministry. They represent a form of state-owned enterprise. Crown corporations are established by an Act of Parliament, act of parliament or an act of a provincial legislature. Federal government Crowns report to the relevant Minister of the Crown, minister in Cabinet of Canada, Cabinet, though they are "shielded from constant government intervention and legislative oversight" and thus "generally enjoy greater freedom from direct pol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Martin
Paul Edgar Philippe Martin (born August 28, 1938), also known as Paul Martin Jr., is a Canadian lawyer and retired politician who served as the 21st prime minister of Canada and the leader of the Liberal Party of Canada from 2003 to 2006. The son of former Senate of Canada, senator and Minister of Foreign Affairs (Canada), secretary of state for external affairs Paul Martin Sr., Martin was a lawyer from Ontario before he became president and the chief executive officer of Canada Steamship Lines in 1973. He held that position until his election as a Member of Parliament (Canada), member of Parliament for the Montreal electoral district (Canada), riding of LaSalle—Émard in 1988 Canadian federal election, 1988. Martin ran for leader of the Liberal Party in 1990 Liberal Party of Canada leadership election, 1990, losing to Jean Chrétien. Martin would become Chrétien's longtime rival for the leadership of the party, though was appointed his Minister of Finance (Canada), ministe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance (Canada)
The minister of finance () is the minister of the Crown in the Cabinet of Canada, Canadian Cabinet, who is responsible for overseeing the Department of Finance (Canada), Department of Finance and presenting the Canadian federal budget, federal government's budget each year. It is one of the most important positions in the Cabinet. François-Philippe Champagne is the 42nd and current finance minister, assuming the role March 14, 2025 as a member of the new 30th Canadian Ministry of Mark Carney. Responsibilities In addition to being the head of the Department of Finance, the minister of finance is also the minister responsible for: *Bank of Canada *Canada Deposit Insurance Corporation *Canada Development Investment Corporation *Canada Pension Plan Investment Board *Canadian International Trade Tribunal *Office of the Superintendent of Financial Institutions *Financial Transactions and Reports Analysis Centre of Canada *Mission to the International Monetary Fund (serving as "Go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Present Value
In economics and finance, present value (PV), also known as present discounted value (PDV), is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has interest-earning potential, a characteristic referred to as the time value of money, except during times of negative interest rates, when the present value will be equal or more than the future value. Time value can be described with the simplified phrase, "A dollar today is worth more than a dollar tomorrow". Here, 'worth more' means that its value is greater than tomorrow. A dollar today is worth more than a dollar tomorrow because the dollar can be invested and earn a day's worth of interest, making the total accumulate to a value more than a dollar by tomorrow. Interest can be compared to Renting, rent. Just as rent is paid to a landlord by a tenant without the ownership of the asset being transferred, interest is paid to a lender by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Canada
The Parliament of Canada () is the Canadian federalism, federal legislature of Canada. The Monarchy of Canada, Crown, along with two chambers: the Senate of Canada, Senate and the House of Commons of Canada, House of Commons, form the Bicameralism, bicameral legislature. The 343 members of the lower house, the House of Commons, are styled as Member of Parliament (Canada), ''Members of Parliament'' (MPs), and each elected to represent an Electoral district (Canada), electoral district (also known as a riding). The 105 members of the upper house, the Senate, are styled ''senators'' and appointed by the Governor General of Canada, governor general on the advice of the Prime Minister of Canada, prime minister. Collectively, MPs and senators are known as ''parliamentarians''. Bills may originate in either the House of Commons or the Senate, however, bills involving raising or spending funds must originate in the House of Commons. By Constitutional convention (political custom), cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OSFI
The Office of the Superintendent of Financial Institutions (OSFI; , BSIF) is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system". It is the sole regulator of banks, and the primary regulator of insurance companies, trust companies, loan companies and pension plans in Canada. The current Superintendent is Peter Routledge, who was appointed in June 2021. He replaced Jeremy Rudin, who retired. The term of the appointment is seven years. Mandate OSFI's mandate is to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks. The Office of the Chief Actuary, an independent unit operating within OSFI, provides a range of actuarial valuation and advisory services to the Government of Canada. Tools The OSFI sets the Domestic Stability Buffer (DSB), a capital bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Actuary
An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. These risks can affect both sides of the balance sheet and require investment management, asset management, liability (financial accounting), liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. The name of the corresponding academic discipline is actuarial science. While the concept of insurance dates to antiquity, the concepts needed to scientifically measure and mitigate risks have their origins in 17th-century studies of probability and annuities. Actuaries in the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems; actuaries use this knowledge to design programs that manage risk, by determining if the implementation of strategies proposed for mit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay-as-you-go Tax
A pay-as-you-earn tax (PAYE), or pay-as-you-go (PAYG) is a withholding tax, withholding of taxes on income payments to employees. Amounts withheld are treated as advance payments of income tax due. They are refundable to the extent they exceed tax as determined on tax returns. PAYE may include withholding the employee portion of insurance contributions or similar social benefit taxes. In most countries, they are determined by employers but subject to government review. PAYE is deducted from each paycheck by the employer and must be remitted promptly to the government. Most countries refer to income tax withholding by other terms, including pay-as-you-go tax. United Kingdom Origins Devised by Sir Paul Chambers, PAYE was introduced into the UK in 1944, following trials in 1940–1941. As with many of the United Kingdom's institutional arrangements, the way in which the state collects income tax through PAYE owes much of its form and structure to the peculiarities of the era in wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ontario Retirement Pension Plan
The Ontario Retirement Pension Plan (ORPP) was a proposed social insurance program for Ontario, Canada to complement the national Canada Pension Plan. It was intended to cover the 3.5 million workers in Ontario who would not receive a comparable workplace pension after their retirement. Plans to implement the ORPP were cancelled in 2016 following an agreement between the federal government and the provinces to expand the Canada Pension Plan. Initial framework (2015) The ORPP was a major plank in the 2014 election platform of the Ontario Liberal Party, and introductory legislation received Royal assent in May 2015. In August 2015, it was explained that the plan had several specific goals: #It is designed to provide up to 15 per cent of a retiree's pre-retirement income as an annual pension, adding about the same amount as the Canada Pension Plan (CPP) for those who have contributed to both plans. #Employees and employers would each contribute 1.9 per cent of an employee's income ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
