Canadian Pension Plan

Canadians Will Retire In Uncertainty If We Don't Act Now

Robert L. Brown | Posted 11.08.2016 | Canada Politics
Robert L. Brown

The Fraser Institute has argued recently that the federal government has failed to make a convincing case for Canada Pension Plan (CPP) expansion. But their viewpoint depends heavily on trying to determine how much income Canadians need to retire with dignity. So, do we really need an expanded CPP?

Unintended Consequences Of Expanding The Canada Pension Plan

Robert L. Brown | Posted 07.08.2016 | Canada Business
Robert L. Brown

The new CPP may also bring some surprising consequences. Some will be good. Obviously for a worker with no pension or a very weak pension, that person now gets a new tier of (modest) benefits. But there are remaining concerns.

A Step-By-Step Guide To Increasing The CPP In Our Lifetime

Susan Eng | Posted 10.27.2016 | Canada Business
Susan Eng

Canadian Pension Plan legislation requires three years' notice to implement any change - even a good one. So even if the provinces were able to pause from elbowing each other for federal attention long enough to agree on a CPP increase this year, no change in contribution rates would take effect until 2019.

The Pros and Cons of an Expanded Canada Pension Plan

Rob Brown | Posted 06.12.2016 | Canada Business
Rob Brown

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.

The Government Should Help Canadians Retire With Dignity

John McCallum | Posted 06.02.2016 | Canada Politics
John McCallum

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.

Government on Right Track with Target Benefit Pension Plans

Robert L. Brown | Posted 07.13.2014 | Canada Business
Robert L. Brown

In a speech in Toronto a couple of weeks ago, Kevin Sorensen, Minister of State for Finance, introduced details of a new "hybrid" pension plan proposed for all federal workers and other corporations under federal pension regulation. He referred to these proposed plans as Target Benefit Pension Plans.

Most Canadians Are No Better Off Financially Than They Were Last Year

Doug O. Jones | Posted 02.18.2014 | Canada Business
Doug O. Jones

A recent Sun Life survey has provided some sobering food for thought ahead of a holiday season that often means less sober endeavours for many. It seems that at year end, the majority of Canadians are no better off financially than they were a year ago and that situation worsens for those 55 years of age and older.

What You Should Know About Pooled Registered Pension Plans

Dan Kelly | Posted 02.17.2013 | Canada Business
Dan Kelly

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

Catherine Swift | Posted 10.30.2012 | Canada Business
Catherine Swift

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.

Why Take-Home Pay Will Shrink In 2012

CP | Julian Beltrame, The Canadian Press | Posted 02.27.2012 | Canada Business

OTTAWA - Even without major tax hikes, Canadians' take-home pay will get a little lighter starting Jan. 1.The Canadian Taxpayers Federation says premi...

Should We Double Pension Plan Benefits?

Michel Kelly-Gagnon | Posted 02.27.2012 | Canada Business
Michel Kelly-Gagnon

Canadians have too much debt and don't make enough money to save for their retirement? No problem. If we only forced everyone to save more -- poof! -- the problem would disappear and pensioners would get government cheques twice as generous.