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Canada Government Quells Ontario Push for Enhanced Pension Plan

Canada’s federal government quelled a push by the country’s largest province Ontario for increased payments to the national pension system.

Raising Canada Pension Plan premiums to finance an increase in benefits would hurt employment at a time when the nation’s economy remains fragile, Kevin Sorenson, Canada’s junior finance minister responsible for pension issues, said today after a meeting of finance ministers today near Ottawa. Sorenson said there wasn’t a consensus at the meeting.