Agreement comes into force March 1, 2014
OTTAWA, March 1, 2014 /CNW/ - The Honourable Jason Kenney, Minister of Employment and Social Development and Minister for Multiculturalism, has announced that the Agreement on Social Security between Canada and the Republic of Bulgaria comes into force today, March 1, 2014. This Agreement will enable Canada and Bulgaria to better coordinate pension benefits and contributions for people who have lived or worked in either country. The Agreement will coordinate the operation of Canada's Old Age Security and Canada Pension Plan programs with the comparable pension programs of Bulgaria.
Quick Facts
The Agreement will benefit Canada by:
- helping eligible individuals qualify for old age, disability and survivor benefits based on their affiliation to each country's pension system;
- permitting continuity of social security coverage when an employee is sent to work temporarily in Bulgaria and eliminating situations where the employer and employee might have to contribute to two countries' social security programs for the same work. As a result, a Canadian who is sent to work in Bulgaria can continue to pay into the Canada Pension Plan and is exempt from paying into the pension program of Bulgaria. This increases the economic competitiveness of Canadian companies operating abroad.
Quotes
"Our government is committed to ensuring the retirement security of Canadians whether they have lived or worked in Canada or abroad. This Agreement demonstrates the continued spirit of partnership and collaboration between our two countries and recognizes the valuable contribution Bulgarian Canadians have made to making Canada stronger."
- The Honourable Jason Kenney, Minister of Employment and Social Development and Minister for Multiculturalism
Associated Link
Social Security Agreement Helps People Who Have Lived or Worked in Canada and Bulgaria
Backgrounder
The Agreement on Social Security will enable Canada to coordinate the operation of its Old Age Security and Canada Pension Plan programs with the comparable pension programs of Bulgaria. The Agreement will benefit Canada by:
- helping eligible individuals qualify for old age, disability and survivor benefits based on their affiliation to each country's pension system; and
- permitting continuity of social security coverage when an employee is sent to work temporarily in Bulgaria and eliminating situations where the employer and employee might have to contribute to two countries' social security programs for the same work. As a result, a Canadian who is sent to work in Bulgaria can continue to pay into the Canada Pension Plan and is exempt from paying into the pension program of Bulgaria. This increases the economic competitiveness of Canadian companies operating abroad.
Canada has signed 57 international social security agreements (or Conventions), of which 54 are in force, with the following countries:
| Antigua and Barbuda Australia Austria Barbados Belgium Bulgaria Chile Croatia Cyprus Czech Republic Denmark Dominica Estonia Finland France Germany Greece Grenada |
Hungary Iceland Ireland Israel Italy Jamaica Japan Jersey/Guernsey Korea Latvia Lithuania Luxembourg Republic of Macedonia Malta Mexico Morocco Netherlands New Zealand |
Norway Philippines Poland Portugal Romania St. Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Slovak Republic Slovenia Spain Sweden Switzerland Trinidad and Tobago Turkey United Kingdom United States Uruguay |
Agreements have also been signed with Brazil, India and Serbia but are not yet in force. They will enter into force once Canada and each of these countries have completed their respective legal processes.
SOURCE: Employment and Social Development Canada
Alexandra Fortier
Office of the Minister
819-994-2482
Media Relations Office
Employment and Social Development Canada
819-994-5559
[email protected]
Follow us on Twitter
Share this article