If the latest actuarial report indicates a minimum contribution rate that is higher than the current legislated contribution rate and the federal and provincial finance ministers, after their financial review, do not make a recommendation, then Canada Pension Plan (CPP) selfsustaining default provisions apply.

Default provisions: If the legislated contribution rate is lower than the minimum contribution rate and if finance ministers do not make a recommendation, then default provisions apply:

• the most recent statutory actuarial report prepared by the Chief Actuary tabled in Parliament;
• any more recent estimates of the Chief Actuary;
• to maintain a relatively stable ratio of assets to expenditures over a long time horizon by determining a rel