No surplus money into CPP: Flaherty

Federal finance minister Jim Flaherty has shelved a proposal to allow surplus money to be put back into the Canada Pension Plan.

In an exclusive interview with Benefits Canada, Flaherty was asked about the notion that if the feds are allowed to put money into the CPP, 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 among the public, the government would not go ahead with it. When asked if the proposal was dead, the minister replied, “That’s right.”

Filed by Joel Kranc, Benefits Canada