In the news today: Pharmacare legislation ‘extremely fluid’: Holland

By The Canadian Press on October 5, 2023.

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today…

Liberals and NDP haven’t yet agreed on promised pharmacare bill

The New Democrats have rejected the first draft of the Liberal’s pharmacare legislation, in what the health minister describes as extremely fluid negotiations over the highly anticipated bill.

The Liberals promised to table pharmacare legislation this fall as part of the supply and confidence deal the government struck with the New Democrats.

The deal calls for “progress toward a universal national pharmacare program,” but NDP health critic Don Davies says the first draft didn’t meet the New Democrats’ expectations.

The NDP says it would be willing to start with essential medicines and expand from there, but wants to see the timelines enshrined in the legislation.

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Here’s what else we’re watching …

Blue Jays swept again, fall to Twins in Game 2

The Toronto Blue Jays were eliminated from the playoffs with a winless record for a second straight year on Wednesday after dropping a 2-0 decision to the Minnesota Twins.

Toronto was also swept in the first round by the Seattle Mariners last year and by the Tampa Bay Rays in 2020. The Blue Jays have lost seven straight playoff games dating back to the 2016 AL Championship Series.

The Twins, who ended an 18-game playoff losing skid on Tuesday with a 3-1 win in Game 1, will advance to the AL Division Series against the Houston Astros.

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How to decide when to take retirement benefits

As hundreds of thousands of Canadians retire each year, many face the stressful question of how to financially plan for the day their biweekly paycheque no longer arrives.

That includes deciding when to begin withdrawing from the Canada Pension Plan or their registered retirement savings plan.

With an RRSP, taking out money before the fund reaches maturity means having to pay a withholding tax, along with income tax on the withdrawal.

CPP benefits withdrawn before age 65 decrease by 7.2 per cent per year, up to a maximum reduction of 36 per cent if you start at age 60.

If you wait until after age 65 to withdraw benefits, payments increase by 8.4 per year, up to a maximum increase of 42 per cent if you start at age 70.

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Marine reptile to become B.C.’s fossil emblem

A large, fierce-looking marine reptile with a mouthful of pointy teeth that made its home about 80 million years ago in Vancouver Island waters could soon become British Columbia’s official fossil emblem.

Tourism Minister Lana Popham introduced legislation Wednesday that, if passed, will see the 12-metre Puntledge River elasmosaur added to B.C.’s list of provincial symbols after a five-year recognition effort by local paleontology enthusiasts.

The first elasmosaur fossils in B.C. were found in 1988 along the Puntledge River in the Comox Valley, and are now on display at the Courtenay and District Museum and Palaeontology Centre.

In 2018, the elasmosaur won a provincewide contest seeking additions to B.C.’s list of official symbols.