A new report from the C.D. Howe Institute is recommending a longer deferral period for the Canada Pension Plan and the Quebec Pension Plan, suggesting that retirement savers would benefit from the greater flexibility and security. The report’s authors propose increasing the deferral period by five years, to age 75 from 70. They also suggest that deferring the […]
The upcoming enhancements to the Canada Pension Plan will increase Canadians’ total CPP benefits by about 44 per cent by 2070, according to a new report by the Canadian Institute of Actuaries and the Society of Actuaries. The study, authored by Bonnie-Jeanne MacDonald, senior research fellow at Ryerson University’s National Institute on Ageing and resident scholar at Eckler Ltd., used […]
The Canada Pension Plan (CPP) was designed in 1965 to replace 25 per cent of a person’s pensionable earnings in retirement, a figure that still holds true today. Enrolment is mandatory, with contributions made by both employees and employers, as well as self-employed workers. The program has evolved over time and receives mixed reviews in […]
Compared to the Canada Pension Plan, private plans are more complex in their structure: Fraser Institute
In comparing the Canada Pension Plan to private pensions, a new study finds the latter face more regulatory hurdles, are more complex and face higher costs as a result. The study by the Fraser Institute reviewed the different regulations governing the CPP in comparison to other plans, including private and public sector pensions, registered retirement […]
Almost a third (32 per cent) of Canadian millennials cited the lack of a pension plan as one of the concerns of working in the gig economy, according to a new survey by TD Insurance. The survey, which queried more than 6,000 Canadians over the age of 18, also found millennials are concerned about the gig economy’s […]
Almost half (45 per cent) of Canadians are confident they’ll be able to maintain their standard of living in retirement to a life expectancy of 85, according to a new study by market research firm Mathew Greenwald & Associates Inc. and Cannex Financial Exchanges Ltd. The survey, which questioned more than 1,000 Canadians aged 55 to 75 with […]
Upcoming enhancements coming to the Canada Pension Plan will lead to a reduction in investment in Canadian enterprises, a new paper from the Fraser Institute argues. The paper noted the Canada Pension Plan Investment Board has shown an increasing preference for foreign investments, with 83.5 per cent of the fund’s assets outside of Canada in […]
Latest CPP additions to cost $900 million by 2050, says Canada's chief actuary.
A suite of additional features planned for the Canada Pension Plan will mean an extra $900 million in costs by 2050, Canada’s chief actuary is estimating. Earlier this week, chief actuary Jean-Claude Ménard released a new report on the state of the Canada Pension Plan in light of additions agreed to by Canada’s finance ministers […]