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Social Security Agreement between Canada and the Republic of Serbia - Agreement comes into force December 1, 2014 Français


News provided by

Employment and Social Development Canada

Dec 01, 2014, 13:21 ET

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OTTAWA, Dec. 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 Serbia comes into force today, December 1, 2014.

This Agreement will enable Canada and Serbia to coordinate pension benefits and contributions for people who have lived or worked in both countries. The agreement will coordinate the operation of Canada's Old Age Security and Canada Pension Plan programs with the comparable pension programs of Serbia.

This agreement also facilitates increased commercial and economic co-operation between the two countries.

Quick Facts

This new agreement will benefit Canada and Serbia by:

  • helping eligible individuals qualify for old age, disability and survivor benefits based on their affiliation with each country's pension system;
  • permitting Canadian companies and their employees sent  to work temporarily in Serbia to continue to contribute to the Canada Pension Plan and to be exempt from contributing to the comparable pension programs in Serbia for the same work; and
  • permitting Serbian companies and their employees sent to work temporarily in Canada to benefit from the same advantages.This will result in substantial savings and increase the economic competitiveness of Canadian and Serbian companies operating in each other's territory.

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 of Serbian-Canadians in making Canada stronger."
– The Honourable Jason Kenney, Minister of Employment and Social Development and Minister for Multiculturalism

Associated Links

Social security agreement helps people who have lived or worked in Canada and Serbia

Agreement on Social Security between Canada and the Republic of Serbia

Serbia - Pensions and Benefits  


Backgrounder


The Agreement on Social Security will enable Canada and Serbia to coordinate the operation of Canada's Old Age Security and Canada Pension Plan programs with the comparable pension programs of Serbia.

This new agreement will benefit Canada and Serbia by:

  • helping eligible individuals qualify for old age, disability and survivor benefits based on their affiliation to each country's pension system; and
  • permitting Canadian companies and their employees sent to work temporarily in Serbia to continue to contribute to the Canada Pension Plan and to be exempt from contributing to the comparable pension programs in Serbia for the same work. As well, permitting Serbian companies and their employees sent to work temporarily in Canada to benefit from the same advantages. This will result in substantial savings and increase the economic competitiveness of Canadian and Serbian companies operating in each other's territory.

Canada has signed 58 international social security agreements, of which 56 are in force, with the following countries:

Antigua and Barbuda
Australia
Austria
Barbados
Belgium 
Brazil 
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
Serbia
Slovak Republic
Slovenia
Spain
Sweden
Switzerland
Trinidad and Tobago
Turkey
United Kingdom
United States
Uruguay

Agreements have also been signed with India and Peru 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; Like us on Facebook

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Employment and Social Development Canada

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