Federal Finance Minister Jim Flaherty says the proposal to allow surplus money be put back into the Canada Pension Plan, is not going ahead.
In an exclusive interview with Benefits Canada, Flaherty was asked about the notion that if money is allowed in to the CPP from the feds, it has the potential to take money out as well.
“There was the concern expressed by some that if ‘oh, well if you can put money into the CPP then you can take money out.’ There’s no logic to that, actually, and there is no authority to do that,” he said.
Regardless, the Finance Minister said because of the uproar the proposal raised in the public, the government would not go ahead with it. When asked if the proposal was dead, the Minister replied, “That’s right.”
Stay tuned to the February issue of Benefits Canada for a complete interview with Federal Finance Minister Jim Flaherty.
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