Saskatchewan is known as Canada’s breadbasket, for its ability to consistently produce quality grain. But given that many in the industry have begun paying attention to what’s behind the Saskatchewan Pension Plan’s (SPP) 25 years of steady and reliable growth, the province may also one day be known as the root of Canada’s pension reform.
A group of pension experts, including a former chief actuary of the Canada Pension Plan, is calling on Canada's finance ministers to commit to expanding the CPP.
The federal government recently released Bill C-25, the Pooled Registered Pension Plans Act. This draft legislation is receiving praise for helping to close the pension gap—the gap between the level of income Canadians will have when they retire versus what they need or want to have. However, it is questionable how effective pooled registered pension plans (PRPPs) will actually be in closing this gap.
The federal government this morning introduced the much-anticipated Pooled Registered Pension Plans (PRPP) Act to address concerns over declining pension coverage for Canadians.
Like most western countries, the level of pension savings in Canada is a major issue for the government, and increased life longevity is driving concerns about how Canada can provide for its senior citizens in the future.
Last December, I wrote an op/ed article in the Financial Post asking CPP expansionists to “Dial down the rhetoric on pensions” (FP Comment, Dec. 22, 2010). In this article, I call upon the Canadian Federation of Independent Business (CFIB) to do the same. The CFIB has recently launched an aggressive attack on public sector pensions. […]
The Institute for Research on Public Policy recently published a paper by economist Keith Horner entitled A New Pension Plan for Canadians: Assessing the Options, in which he concludes Canadians would be better served by proposals to expand the CPP, which delivers DB pensions, over other options such as the pooled registered pension plan (PRPP) […]
After the economic turmoil that defined 2008 and decimated assets in many pension plans, few expected the turnaround in markets that occurred in 2009. In last year’s Top 100 Pension Funds Report, 66 of the funds on the list posted double-digit increases in assets for 2009. Only eight ended the year with decreases. While many […]
While the budget delivered positive news for the economic growth of Canada (the federal finances are in better shape now than they were when the previous budget document was tabled in March), there was no additional update to the state of pension reform in Canada—which is concerning to some. Working with the pooled registered pension […]
Statistics Canada reported in its Pension Plans in Canada survey that, in 2006, just under 220,000 Canadians were members of small registered pension plans (plans with fewer than 100 members). This compares to large registered pension plans, each with 1,000 or more members, totalling more than 4.4 million members in Canada. In the 15 years […]