will be raising their retirement age from 65 to 67 but not until 2023. They will also eliminate the penny from circulation but not until the end of the year.
Penny. The penny costs more to manufacture than it is worth. This move will save the Canadian government $11 million annually.
Federal government workforce. Canada will also announce layoffs for 4.8% of the federal government workforce in the coming years (19,200 people).