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The Canada Pension Plan (CPP; French: Régime de pensions du Canada) is a contributory, earnings-related social insurance program. It is one of the two major components of Canada 's public retirement income system, the other being Old Age Security (OAS).
Despite opinion pieces claiming the imminent demise of DB plans in Canada, [7] Statistics Canada information verifies only a slight decline in the number of plans over the most recently available five-year period (9,304 in 2017 to 9,022 in 2021 – a 3.13% reduction). [8]
Other business derives from Desjardin's group insurance (The Personal), white label activities with Scotiabank, brokerage with Western Financial, and activities related to the exclusive agents of Quebec. [4] In 2018, State Farm Canada was officially rebranded to Desjardins Insurance through Desjardins Insurance Agents.
Service Canada is the program operated by Employment and Social Development Canada to serve as a single-point of access for the Government of Canada's largest and most heavily used programs, such as the social insurance number, the Employment Insurance program, the Old Age Security program and the Canada Pension Plan. [1]
In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000.
Ontario regulates approximately 8,350 employment pension plans, which comprise more than 40 per cent of all registered pension plans in Canada [1] It was originally enacted as the Pension Benefits Act, 1965 (S.O. 1965, c. 96), and it was the first statute in any Canadian jurisdiction to regulate pension plans. [2]
Until 2018, all 1.2 million customers in Ontario, Alberta and New Brunswick [9] were still served under the name of State Farm, but on May 1, 2018, Desjardins officially started a campaign to rebrand State Farm Canada [10] as Desjardins Insurance Agents. The transition is to be done by December 31, 2019. [11]
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