PRESS DIGEST-Canada-Feb 20

Wed Feb 20, 2013 3:51am EST
 
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Feb 20 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE GLOBE AND MAIL

* Canadian Imperial Bank of Commerce Chief Executive Gerry McCaughey said Canada should reform its pension plan to allow people to make voluntary contributions that are beyond what they already pay through their salaries.

The move could give many Canadians something they do not have with Registered Retirement Savings Plans and other investment vehicles tied to the markets: a predictable payout when they retire.

* Alberta's projected deficit is on track to be four times larger than its original forecast, and the government argues it could not have predicted how quickly oil markets would swing against the province.

The Progressive Conservatives, led by Alison Redford, expect to run a deficit of between C$3.50 billion ($3.47 billion) and C$4 billion in the fiscal year, up C$1 billion from the forecast they reiterated in December.   Continued...