Proposed voluntary CPP expansion gets negative reaction
The announcement that the federal government is going to study the option of allowing Canadians to voluntarily contribute to the CPP to supplement their retirement savings has supplied a lot of grist for my mill.
Consultations on allowing for voluntary individual contributions to the CPP won't lead to any real help for workers worried about having a secure retirement income, the Canadian Union of Public Employees (CUPE) says.
The Harper government says it will explore giving people the option to pump more of their earnings into the Canada Pension Plan to boost their retirement savings.
Are Canadians saving too much and living too little? And if so, who's benefiting?
A slight majority of HR professionals aren't in favour of the proposed Ontario Retirement Pension Plan, finds a Human Resources Professionals Association survey.
Enhanced CPP isn't the only way to solve the retirement crisis.
The benefit rates for the Canada Pension Plan are increasing next year, says Employment and Social Development Canada.
Pension wealth advanced to $2.85 trillion at the end of 2013, up 11.4% from 2012, says Statistics Canada.
Enhancing the Canada Pension Plan isn’t required because Canadians have saved enough, say Ian Lee, assistant professor at the Sprott School of Business at Carleton University.