CANADIAN PENSION PLAN

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The Pros and Cons of an Expanded Canada Pension Plan

A new report came out this week that reiterates what we've heard from other sources a few times now: Canadians aren't saving nearly enough for retirement. The Deputy Chief Economist of the CIBC warns that without pension reform now, younger workers today will see a steep decline in living standards as they retire. The Conservative government has recently announced it would like to have a dialogue with Canadians about a potential expansion of the Canada Pension Plan (CPP). While this, in itself, is a purely political action -- since it commits the government to nothing -- it is worth looking at what the possible outcomes might be.
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The Government Should Help Canadians Retire With Dignity

Canadians are worried about their retirement. Recent polls show that among working aged people there is a growing concern that they simply won't be financially secure in retirement. This concern is validated by statistical data showing that a significant segment of society is having trouble saving enough. Instead of turning a blind eye to a known problem, the Government of Canada should be trying to help Canadians retire with dignity. Clearly, the time is right. All that is missing is federal leadership. Unfortunately, Canadians just won't get it from Stephen Harper, who has always disliked the CPP.
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What You Should Know About Pooled Registered Pension Plans

Bad public policy ideas are like Jason Voorhees in those old Friday the 13thmovies: no matter how many times you think you've killed them, they keep coming back to cause trouble. As the federal and provincial finance ministers get ready to discuss a number of issues, the country faces a very real problem: too few Canadians have begun to save for retirement.

For Private Sector Workers, CPP's Bridge Benefit Leads to Nowhere

Most Canadian private sector taxpayers are blissfully unaware of the existence of a wonderful bonanza public sector workers enjoy at their expense -- namely, the Canada Pension Plan bridge benefit. But if people were fully informed about the special treatment accorded to public sector workers, one aspect of which being the bridge benefit, they likely would have been less willing to jump on the bandwagon of later retirement for themselves.