The British Columbia NDP finance critic says B.C.’s delay in formally signing on to agreed pension changes across Canada has her concerned the province is going to go back on its word.
On Friday, the B.C. Ministry of Finance announced on its website that it is launching engagement “with stakeholders” on proposed changes to the Canada Pension Plan.
But Friday is the same day the province was supposed to have confirmed its approval of the deal.
NDP MLA Carole James said Finance Minister Mike de Jong’s decision to ask for more time before going ahead with the agreement, struck in Vancouver last month, could be a sign that he is changing his mind.
“Is he being reluctant to take part?” James said. “The fact there was already a deadline there for July 15 and they haven’t met it is worrisome.”
Federal Finance Minister Bill Morneau released a statement on Friday about the deal, noting that B.C. had not met the July 15 deadline to approve it. If B.C. doesn’t go ahead with the agreement, the rest of the country cannot.
“Since the Vancouver meeting all signatories have been working in good faith to confirm the approval of their respective Governments by July 15, a date chosen by consensus so that the work of implementing the enhancements could begin without delay,” said Morneau’s statement.
“While all other signatories will meet this target, the Province of British Columbia has indicated that it needs more time to do so.”
He said he still believes the agreement can be ratified with enough time for Ottawa to introduce legislation to make changes to the pension plan this autumn.
But James said she’s not as optimistic, and questions why the province didn’t do its consulting and engagement long before Friday’s deadline.
Prior to the agreement reached in Vancouver, the B.C. government was reluctant to agree to pension changes, with Minister de Jong saying the economy was too fragile for such measures.
That has James wondering what the foot-dragging from the BC Liberals could mean.
“Why weren’t they consulting over the last three weeks?” she asked. “It raises concerns because of the finance minister’s previous (position).”
The B.C. Ministry of Finance did not return a request for comment and interview on Friday.
The proposed changes to the pension plan, which would begin in 2019, would increase contributions from a person making $55,000 per year by about $7 a month. Employers would match that.
Entering retirement, the average Canadian would see about $4,300 more a year in pension cheques.
Read more: BC Politics
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