And why we need better disclosure.
Pensions are inextricably tied to the economy, said Malcolm Hamilton, an actuary with Mercer (Canada) Ltd., speaking recently in Toronto at the Association of Canadian Pension Management’s spring session, Checking the Pulse of Pension Reform. “If the markets do well, any pension will work. If the economy is bad, any pension—no matter how good—will fail,” […]
The Framework for Pooled Registered Pension Plans, released by the Department of Finance in December 2010, suggests that the introduction of pooled registered pension plans (PRPPs) would improve the retirement savings system by providing an “accessible, straightforward and administratively low-cost retirement option,” particularly for the self-employed and employees of small and medium-size businesses who currently […]
Seniors, students and job-seekers will see some additional benefits from this year’s budget, introduced today in Ottawa. But those benefits are relatively minor, and may not be enough to appease the opposition parties, who are threatening to topple the government and trigger a federal election. “We believe that the honourable members in the opposition will […]
Pooled registered pension plans (PRPPs) are coming, and many will say not a moment too soon given that only one in three private sector worker is currently participating in a registered pension plan or group RRSP. The hope is that PRPPs will dramatically improve pension coverage thus relieving public pressure to expand the Canada/Quebec Pension […]
The federal government’s proposed pooled registered pension plans (PRPPs), as well as any subsequent retirement income system reform undertaken in Canada, should be designed to benefit those who need the most help—namely middle-income earners—according to Towers Watson. In a new article called Rethinking retirement: Principles to guide reform of the Canadian retirement system, the professional […]
An overwhelming majority of Canadians say they want a program that makes it easier for employers to offer a pension plan, according to a Research House survey commissioned by the Canadian Life and Health Insurance Association (CLHIA). The results show 90% of Canadians support the federal government’s proposal to improve employer access to pension plans […]
A new survey conducted by Environics survey conducted for the Canadian Union of Public Employees shows that proposals to expand the Canada Pension Plan (CPP) are far more popular than the latest government plans for a new private-sector option. According to the survey, 76% of respondents support increasing CPP benefits and 51% oppose the current […]
It has been a month since Canada’s finance ministers emerged from their Kananaskis, Alta. meeting and announced agreement on moving forward with the pooled registered pension plan (PRPP), and shelving Canada pension plan (CPP) expansion for now. Predictably, perhaps, the financial services industry has applauded the PRPP, while the labour movement have decried it as […]
The Canadian Labour Congress (CLC) is looking for the culprits that stymied the enhancements to the Canada Pension Plan (CPP). The CLC publicly announced that in late December 2010 the group filed two Access to Information requests to seek internal government and external lobbying materials related to the CPP and private sector pooled registered pension […]