Ottawa, ON – Employment and Social Development Canada

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.

Quote

“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

 src:news.gc.ca