Bill C-26 (Historical)

An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act

Part 1 of this enactment amends the Canada Pension Plan to, among other things,
(a) increase the amount of the retirement pension, as well as the survivor’s and disability pensions and the post-retirement benefit, subject to the amount of additional contributions made and the number of years over which those contributions are made;
(b) increase the maximum level of pensionable earnings by 14% as of 2025;
(c) provide for the making of additional contributions, beginning in 2019;
(d) provide for the creation of the Additional Canada Pension Plan Account and the accounting of funds in relation to it; and
(e) include the additional contributions and increased benefits in the financial review provisions of the Act and authorize the Governor in Council to make regulations in relation to those provisions.
This Part also amends the Canada Pension Plan Investment Board Act to provide for the transfer of funds between the Investment Board and the Additional Canada Pension Plan Account and to provide for the preparation of financial statements in relation to amounts managed by the Investment Board in relation to the additional contributions and increased benefits.
Part 2 makes related amendments to the Income Tax Act to increase the Working Income Tax Benefit and to provide a deduction for additional employee contributions.

Canada Pension Plan

[John Barlow, Conservative, Foothills, AB]

Madam Speaker, I appreciate the opportunity to speak today on bill C-26. We are seeing the frightening trend of the Liberal government's imposition of punitive taxes without consultation, with very little feedback from stakeholders, and with very little knowledge of the economic impact these decisions and policies are going to have on Canadian families, and Canadian small businesses specifically.

First, it started with the carbon tax, which is going to increase the cost of pretty much everything. The government has also changed the mortgage rules, which will make it that much more difficult for young Canadians to buy their first home. Now it is talking about a hike to the CPP, which is really going to hamper growth in the small business sector. These are all policy decisions that have been imposed by the Liberal government with absolutely no consultation or study of their ramifications for Canadian families, small businesses, and the provinces.

I am the vice-chair of the Standing Committee on Natural Resources, which has been hearing from stakeholders over the last couple of weeks since the carbon tax was announced. All of these stakeholders have said that no one spoke to them about it, that this is going to make the difference between their putting shovels in the ground in some projects, or walking away entirely. What are the ramifications and implications going to be for our energy industry, which is already struggling, if a punitive carbon tax is imposed without any data to back up the economic impacts of that decision?

Yesterday, a motion was put forward in the natural resources committee that the committee do an emergency study of the economic impacts of the carbon tax on the natural resources sector. If Liberals were that confident that the carbon tax and the CPP tax hike were going to have beneficial and positive ramifications for Canadians across the country, then, in my estimation, they would have agreed to go ahead with that study, but they did not. They unanimously voted it down, because they do not know the ramifications of policies like this for hard-working Canadian families.

They are plowing ahead with these kinds of decisions because they think these make great politics for the very vocal minority of union bosses and big companies. Those are the ones driving these decisions. They are not talking to middle-class Canadians, the ones whose pocketbooks are going to be impacted by these decisions. That is what makes these types of decisions so frustrating.

A couple of weeks ago I had an opportunity to speak at a summit in Calgary, which was titled, unfortunately, “The Employment Crisis for Canada’s Energy Professionals—A Lost Opportunity for Canada”. There were more than 200 professionals at that meeting. They were not rig workers or welders, not the people we typically associate with feeling the impact of the downturn in the energy sector. They were petroleum engineers, geophysicists, and geologists. Many of them have not had a job in more than two years.

I asked them if they or their associations were consulted about the carbon tax or the tax increase via the Canada pension plan. I asked if the Liberal government talked to their associations, which include thousands of Canadian professionals across the country. Every single one of them said no, that these things were a complete shock to them. I said there had been ups and downs and booms and busts in the energy sector for decades, and they agreed that these, absolutely, had happened many times but this was the worst they had ever seen.

We heard in question period today and many times over the last week that Alberta has been hit hard by the downturn because of low oil prices. A barrel of oil is now more than $50. A low oil price is not the only reason that Alberta is struggling right now. It is bad policy, it is inaction, it is tax increases on businesses and employers. The professionals said they do not see a light at the end of this tunnel because of the policies being put forward, like a carbon tax that is increasing indecision in the industry, driving away investment, and taking their jobs with them.

They said that intellectual capital is going to be lost because of these decisions and that they are uncompetitive globally in energy, manufacturing, and agriculture, thanks to the decision of the government to put forward a carbon tax, and now a CPP tax hike, not to mention the changes to the mortgage rules that are making it more difficult for young families to buy their first home.

My colleague from Winnipeg North was saying that when he was door-knocking in his community, he was overwhelmed by Canadians asking for these changes. I had zero. Not once did I go to a door and somebody said, “Boy, I am really looking forward to a carbon tax. I am really looking forward to a hike in my CPP taxes, and do you know what? I really hope that you make it more difficult for me to buy my first home.”

Maybe residents of southern Alberta are much more savvy, I am not sure. These issues were never raised in that campaign, so for the Liberals to say that they have this incredible mandate because of what happened a year ago, I think it is disingenuous. I think they are putting through decisions that appeal to a very vocal minority of Canadians but are not in the best interests of hard-working Canadian families.

I would like to talk about some of the things that have been said so far today about how this would help Canadians in their retirement. Having an increase in CPP is great if I have a job, but now there are more than 200,000 Canadians who do not have jobs. I have not heard any decisions or any policies brought forward by the government that would help change that.

We have vehicles in place that will help Canadians save. What I think is most important with those things, including the tax-free savings account, which the government has clawed back, is that, again, in contrast to what my hon. colleague has been saying, that is something I definitely heard at doors. Canadians liked the opportunity to save on their own terms. It is absolutely their money. They want to make the decisions on what they do and how they save with their own money.

It is definitely a step backward to look at government as being the answer to everything. If people do not know how to save, the government will take care of that for them. Canadians are much more savvy than the Liberals are giving them credit for.

We also heard, when the Liberals made the decision to claw back the tax-free savings account, that this is just a vehicle for the wealthy. Only wealthy Canadians have the opportunity to invest in the tax-free savings account. Of those Canadians who have maxed out their tax-free savings account, 60% were making $60,000 or less. Those are not wealthy Canadians. Those are hard-working Canadian families who are making very tough choices for their future.

They are putting money aside to buy their first home, which now, unfortunately, is even more difficult to buy. I would ask where the government got the information that this was a good decision. Maybe it is for Vancouver or Toronto, but it certainly is not for Calgary or rural Alberta. I certainly have not had anybody come to me and say that this is a good decision. I have had the exact opposite. Realtors, mortgagers, credit unions, young families, come to me and say that this is devastating. Now it will take them another decade to save up for that first home, which we know is one of the largest investments they will have in their lifetimes.

When I was going door to door last October, I had so many Canadians, so many residents in my riding of Foothills, talk to me about the importance of the tax-free savings account and how welcoming they were that they would have an opportunity to invest further in a tax-free savings account. As I said, these were Canadians who were making very difficult choices for their families, whether it was a first home, their child's education, or saving for their own retirement.

The key to that is that Canadians had the opportunity to make their own decisions on what they felt was best for them and best for their families and their children's futures. This is a decision, once again, where government is imposing its will on Canadians, and Canadians have not said in any way, shape, or form that this is what they want, whether it is a carbon tax, mortgage rule changes, tax-free savings accounts, or electoral reform.

I do not understand why the government feels that it should be governing with an iron fist, a sledgehammer, and imposing its will on the provinces and Canadians. This is certainly not what I heard from hard-working Canadian families or certainly folks in my riding throughout the election campaign, and even before that.

But what has really been overlooked here is the impact this would have on small businesses. It is ironic that we are having this discussion during Small Business Week here in Canada. I am hearing daily from small business owners in my riding in southern Alberta and across the province that they are struggling. I do not think it is any mystery. The Liberal government will not do anything about it except to say that it has compassion and sympathy for what is going on in Alberta. I say in response, well, do something about it and give us a hand.

Imposing a carbon tax, and now a CPP hike on small business owners, is certainly not the way to do it. We have a very fragile economy right now in Alberta, and to impose these types of decisions when we are struggling does not make any sense. Alberta was the economic engine of this country for decades and, unfortunately, that engine has stalled. Rather than giving us a lifeline, the Liberals are throwing us an anchor. This would push those small business owners off the edge.

Right now in Calgary the unemployment rate is in the double digits. The vacancy rate in downtown Calgary is at 30%. It is unbelievable to me that in a province I have raised my family in and have worked in, I can go to downtown Calgary and see 8th Avenue deserted and entire floors of business buildings and office towers deserted. There is nothing but empty desks and empty offices. Yet our top priority is to impose a Canada pension plan tax hike, which would cost business owners more than $1,000 a year per employee.

Dan Kelly, president and CEO of the Canadian Federation of Independent Business notes that “Two thirds of small firms say they will have to freeze or cut salaries and over a third say they will have to reduce hours or jobs in their business in response to a CPP/QPP hike.”

When we are already struggling with an unemployment rate in Alberta close to double digits, and in some communities well over double digits, and 200,000 direct and indirect energy jobs that have been lost, we would further stress the employment numbers with these decisions. It will be more difficult for a small business owner to hire because of the increased costs from this CPP tax hike, which I do not think anyone was really asking for.

Indeed, Hendrik Brakel, a senior director at the Canadian Chamber of Commerce, has said:

...we’re worried a big tax increase is headed for the middle class like an elbow to the chest....

This comes at the worst possible time—an economy reeling from weak commodity prices and slower consumer spending will be lucky to eke out growth of 1.5% next year. It’s difficult to stimulate the economy while pulling money out of the pockets of Canadians.

The Chamber of Commerce represents businesses across the country, as does the Canadian Federation of Independent Business. These people are raising the alarm about the impact of the CPP tax hike on small businesses at the worst possible time.

I know we talk a lot about Alberta, but the energy downturn has impacted Canadians across the country. I was in Nova Scotia a couple of weeks ago, and it was amazing how many people came up to me to say, “I was working in Alberta in the oil sands, but I had to come home, obviously, because there are no jobs. But there are no jobs for me here either”. We need Energy east. We need policies in place that will kick-start our energy industry. But instead, when it is down, we kick it with a carbon tax and now a CPP tax hike. Where does this make sense?

I am going to conclude with this. This has been my question all along: if the Liberals are so confident that these types of policies will bring a great positive change to our economy, with all these great jobs for Canadians they talk about, can they prove it? Can they show me the data? Can they show me an economic impact study they did before they announced the carbon tax and the CPP tax hike? I have not seen it. If they are so confident this is the best thing for Canadians, I ask them to show it to me.

[Greg Fergus, Liberal, Parliamentary Secretary to the Minister of Innovation]

Madam Speaker, I would like to thank the hon. member for his interesting speech. I am certain that it was heartfelt and he represents his constituents well.

However, he raised so many questions that I could not resist the opportunity to ask some questions back to him, or at least share some of the observations I made back in my own riding during the election. One is that he mocked the idea that Canadians are supportive of putting a price on carbon pollution.

I did not have a safe riding. I had to work very hard to win the riding. We spent many months, my team and I, knocking on 35,000 doors. I heard over and over again from people that they wanted two things. They wanted Canada to take a leadership role again on the international stage, which meant re-engaging with the commitments we made to deal with respect to the environment. Many times, people brought up the notion of carbon pricing. The idea is very simple, at least in the case of British Columbia: “Keep your taxes, keep your profits, but if you cause pollution, you pay for it.”

I just want to reassure the member that certainly was the case in my riding of Hull—Aylmer.

[John Barlow, Conservative, Foothills, AB]

Madam Speaker, I have a lot of respect for my colleague. I just want to say that I think all of us worked very hard in our ridings during the election. I hope he is not insinuating that some of us have safe ridings and are not in contact with the feelings of our constituents.

I am sure some of the constituents in his riding were talking about a price on carbon. I wish they would just say what it is. It is a carbon tax. This “price on carbon” I find ridiculous. For anybody who says the famous last words of any government are revenue neutral, I think we all know that is not going to be the case.

When he was going around to his constituents, did he tell them that it was going to be $50 a tonne? Did he tell those people at the door it was going to be 11¢ a litre on gas and another 14¢ a litre on diesel? Did he tell them that? Did he tell them, “Actually, it's not going to be the businesses that cause the pollution that are going to be paying for that carbon tax. It is going to be you paying for that carbon tax”?

Did he talk to the farmers and ranchers in my riding who are seeing their fuel prices double because of the carbon tax? This is not an area where I have public transit and my residents could take a bus. The carbon tax is going to be extremely painful for rural Canadians.

[Karen Vecchio, Conservative, Elgin—Middlesex—London, ON]

Madam Speaker, I can totally empathize with him, because during the 2008 global recession, in my own community, there were huge job losses. We saw over 6,500 jobs lost in the St. Thomas area and region. I completely understand the member's concern for his constituents.

When I listened to the government speakers, I recognized that they are really confusing the Canada pension plan with what they are doing for seniors on old age security and GIS. I want to make sure that we separate those two things. They are two different pillars of retirement, so I do not want Canadians to get confused with GIS and the CPP. I just wanted to make that statement..

We talk about the CPP investment, as they are calling it, and one of my greatest concerns is that, if we are going to see job losses, we are not going to see our youth who are just graduating from colleges and universities and our young families having jobs. They will not be able to pay into the CPP anyway because to pay tax they need to have a job.

I am just wondering what his thoughts are on how we are going to help those young families and those young students get on a path so that they can have economic independence.

[John Barlow, Conservative, Foothills, AB]

Madam Speaker, I want to thank my colleague, the member for Elgin—Middlesex—London, for a great question and for all the advocacy she has done for her riding, and especially, for young Canadians.

My answer would be that this is absolutely backwards. Not only will these young people have a tough time finding jobs, but because they are paying into this, they will have a very difficult time repaying their student loans or saving for a first home. Youth unemployment now is at more than 16%. It will be much worse and they are going to have a much more difficult start to their professional lives.

[The Assistant Deputy Speaker, NDP, Carol Hughes]

The member will have a little over five minutes left in questions and comments the next time this matter is before the House.

It being 1:30 p.m., the House will now proceed to the consideration of private members' business as listed on today's Order Paper.

The House resumed from October 21 consideration of the motion that Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act, be read the second time and referred to a committee.

[The Assistant Deputy Speaker, Liberal, Anthony Rota]

There are five minutes remaining for questions and comments for the hon. member for Foothills.

The hon. member for Winnipeg North.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, one of the things that we know is very different, between the former Harper Conservative government and what this particular Prime Minister and the Government of Canada are trying to do here, is the issue of Canada's pension plan.

The former government did not recognize and did not listen to what Canadians really and truly wanted. It was completely out of touch with Canadians and did not recognize the importance of pension programs, in particular with respect to the CPP.

What we are debating today is a piece of legislation that, if passed, will be somewhat historic in the sense that we are going to see increases to CPP, working in collaboration with the many different provinces from every region of the country. At the end of the day, the biggest benefactor is going to be the worker, and the worker who is going to be retiring in the future.

Why is the Conservative Party still so out of touch with what Canadians really want when it comes to the issue of retirement? Why will the Conservative Party not support the bill?

[John Barlow, Conservative, Foothills, AB]

Mr. Speaker, I find it quite ironic that the member is saying we are the ones who are out of touch. Who did the Liberals actually consult before imposing yet another tax increase on Canadians? They did not consult anybody before the carbon tax. They did not consult anyone before changing the mortgage rules. They did not consult anyone before increasing the CPP tax hike.

I have certainly heard from constituents across my riding and from people across the country. Certainly during the election, while knocking on doors, I did not have a single person tell me that they really wanted to have their taxes increased on CPP and to have a carbon tax, and that was what they were looking for.

We had the tax-free savings account, which Canadians really appreciated. That is what I heard when I was knocking on doors, that people really appreciated the increase in the tax-free savings account, something the government, once again without consulting Canadians, decided to claw back and take away, imposing its own tax increase on Canadians.

[Dan Albas, Conservative, Central Okanagan—Similkameen—Nicola, BC]

Mr. Speaker, I certainly appreciate the quick footedness of my colleague. I would like to ask him a question.

The Canadian pension plan, depending on which accounting method is used, has a shortfall deficit of between $8 billion and $24 billion. The changes the government has put forward will do nothing to alter that. Does the member think that the government is simply moving ahead ideologically and not looking at actual improvements to help keep the system on a stable and solid basis for Canadians?

[John Barlow, Conservative, Foothills, AB]

Mr. Speaker, I want to thank my colleague for that question and all the hard work he has done, and to congratulate him on his new post as deputy critic for finance.

These changes are not going to do anything for Canadians right now. For seniors, baby boomers moving into seniors, this is something they will not feel for years, if not decades down the line. All this is going to do is increase the already exploding deficit that we have.

The impact in the short term is going to be that business owners are going to have to cut back hours and will not be hiring people. In a very low-growth time, this is something that is going to cost business owners and Canadians more than $2,000 a year. When we are seeing growth predicted at maybe 1% or 1.5% over the year, we need to encourage business owners to hire and grow. This is absolutely the opposite. This will discourage them from growing and hiring.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, I will be splitting my time with the member for Winnipeg South.

Our government is committed to strengthening the backbone of the economy, the middle class, and those working hard to join it. It is with this commitment that our government has delivered on a number of platform promises that were made to hard-working Canadians.

I am proud to stand and speak to Bill C-26, an act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act. This legislation would strengthen Canada's pension system and was a key promise we made to ensure a secure and dignified retirement for all Canadians. I congratulate the Minister of Finance, who delivered on this commitment by working in close collaboration and common purpose with our provincial and territorial partners.

It must be noted that provincial leaders of every major political party, Liberal, New Democratic, and Conservative, worked diligently on coming to this historic agreement that would benefit generations of Canadians, including my two young children, Natalia and Eliana.

What is at stake is simple. We must strengthen our pension system to reflect the realities that exist today and ensure a dignified and secure retirement for all Canadians.

To start our discussion on the proposed legislation, I believe it is best to review Canada's retirement system as it stands today and why a strengthened CPP is required to address trends that are leaving so many Canadians unprepared for their post-work years. Today's multi-pillared system includes old age security and the guaranteed income supplement, which are paid out of general government revenues and act as a basic income floor for low and middle-income Canadians. The CPP and QPP are funded through mandatory employer-employee contributions, and, in the 1990s, the CPP shifted from a pay-as-you-go system to a pre-funded platform. Finally, we have private workplace pensions and discretionary individual savings, including tax-free savings accounts and registered retirement savings plans.

Despite this multi-pillared approach to the retirement system, a number of trends are emerging that are leaving millions of Canadians unprepared for retirement and potentially facing a material drop in their standard of living.

Extensive analysis conducted by the finance department found that around one-quarter of families nearing retirement, approximately 1.1 million families, are facing a drop in their standard of living. Furthermore, it is estimated that as many as five million Canadians do not have access to a workplace savings arrangement, and many of these middle-class Canadians are at a greater risk of under-saving for retirement. We must act to ensure that all Canadians have a secure and dignified retirement.

In addition, younger Canadians today face circumstances not faced by prior generations in terms of saving for their retirement. Canadians now entering the workforce will face the prospect of changing jobs several times in their lifetime, and a portable pension plan that facilitates job mobility is now a necessity in this changing job market.

Since the 1970s, we have seen a material decline in the overall participation in private sector registered pension plans, as well as an ongoing shift from defined benefit to defined contribution plans. Statistics Canada estimates that total private sector workplace registered pension plan coverage has declined from 35% to levels now approaching 20%. Frankly, fewer private sector companies are offering workplace pension plans, and many companies have closed or wound up their defined benefit pension plans.

Defined contribution plans are not in their exact nature true pension plans, as they expose individuals to investment risk and swings in the beneficiary's pension plan assets, and a subsequent shortfall in pension savings. Also, a low interest rate environment, which influences the present value of liabilities and has placed cash flow demands on companies to maintain solvency ratios, combined with, frankly, unfavourable accounting rules on pensions, has hastened the move by many companies away from defined benefit pensions.

Our government, in collaboration with the provinces, has taken a carefully targeted approach with this legislation to address the issues I have laid out while striking the important balance between short-term economic considerations and long-term economic gains.

What does an enhanced or stronger CPP mean for Canadians? Quite simply, it means a secure and dignified retirement for millions of Canadians. It means that individuals retiring can worry less about making ends meet and more about spending time with their loved ones, including grandchildren.

Once fully in place, this CPP enhancement would increase the maximum CPP retirement benefit of approximately $13,000 by up to 50%. In today's dollar terms, the proposed enhanced CPP represents an increase of nearly $7,000, to a maximum benefit of nearly $20,000.

The enhancement in this legislation would do two things to make this happen for contributors. First, it will increase the share of annual earnings received during retirement from one-quarter to one-third. This means that individuals making $50,000 today over their working lifetime would receive approximately $16,000 per year in retirement instead of the roughly $12,000 today. Second, it would increase by 14% the maximum income range, to approximately $82,700, so that those who earn more would receive more in retirement.

Enacting these changes with Bill C-26 would result, as estimated by the Department of Finance, in a reduction of families at risk of not having adequate retirement savings by one-quarter, from approximately 24% to 18%, when we consider all pillars of the retirement income system.

To ensure that these things are affordable, we would phase them in over seven years, starting in 2019 through to 2025, so the impact is minimal and gradual. As noted by David Dodge, former governor of the Bank of Canada, “The fundamental challenge [facing decision-makers] is how to provide for adequate retirement income for the future population of elderly people without imposing an undue burden of taxation on the working population and the business sector.”

We have struck this right balance. For example, an individual with earnings of $50,000 will contribute about $6 more a month in 2019, and by the end of the seven-year phase-in period, contributions for that individual would be about $40 per month. Additionally, and this is very important, we would ensure that low-income Canadians would not be financially burdened as a result of the extra contributions. We would enhance the working income tax benefit to roughly offset incremental CPP contributions with little to no change in disposable income, while still securing higher retirement income for low-income Canadians.

A strong CPP will be good for Canadians, and will also be beneficial to the Canadian economy overall. As estimated by the Department of Finance, greater CPP benefits would increase spending by retirees, providing for a boost to economic output. It is estimated that GDP would increase slightly, from 0.05% to 0.09%, and employment levels are projected to be permanently higher, by approximately 6,000 to 11,000 jobs, based on 2015 levels of employment. In addition, higher aggregate saving rates through enhancing CPP would increase the amount of capital available for investment.

The Canada pension plan is a solid program, and actuarially sound. It is fully funded for future generations. The most recent report noted that 5.3 million Canadians received approximately $38.7 billion in payments while contributions totalled nearly $45 billion. It cannot be understated just what advantages the CPP offers. The CPP as a retirement vehicle for Canadians is, in my view, a model for the world. These advantages include that CPP provides a secure, predictable, and stable benefit. Canadians will not outlive their savings, and benefits are not subject to shocks. CPP benefits are fully indexed to prices, so inflation will not reduce the value of a pension. CPP is fully portable, and it fills the gap of a decline in workplace pensions. Overall, CPP is an efficient way to save.

Finally, the CPP Investment Board operates at arm's length from the government, with a mandate to invest CPP funds in the best interests of plan members. It is a model that is independent, transparent, and accountable. It is well regarded around the world for its impressive record of investment performance and management excellence, with a 10-year annualized rate of return of 6.8%.

In closing, Bill C-26 is the next step forward in ensuring that all Canadians retire in a secure and dignified manner. I ask my colleagues to join with me in advancing this important piece of legislation that was brought forward in a collaborative approach between the provinces and the federal government.

[Mark Warawa, Conservative, Langley—Aldergrove, BC]

Mr. Speaker, I want to thank the member for his comments. I listened intently.

A tax is a tax is a tax, and this is a new tax on the Canadian economy that would hurt business, hurt jobs, and would actually take money out of the pockets of Canadians.

I would like the member to comment on this quote: “Whatever the reason might be to expand CPP, it is not to eliminate poverty.” That quote is from a book written in partnership by the finance minister. In his speech, the member said that this is to help low-income Canadians, yet the finance minister said it has nothing to do with that. Again, a tax is a tax is a tax. If the member would comment, does he agree with the finance minister or disagree with him?

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, we increased the guaranteed income supplement by approximately $947 in budget 2016, and that is going to help approximately one million Canadians who are the most vulnerable of the vulnerable. In addition, with the enhancement of the CPP, the working income tax benefits will be worked in such a manner that low-income Canadians will be left better off with the imposition of the enhanced CPP than they were prior, and that will assist them in moving out of poverty.