The Canadian Federation of Independent Business (CFIB) has released a new study simulating the economic impact of recent calls to boost Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) benefits and premiums. Using macro-econometric modeling to simulate proposals made by the Canadian Labour Congress (CLC) and others, CFIB finds that 1.2 million person years […]
The Alberta division of Canadian Union of Public Employees (CUPE) says the province’s Finance Minister Ted Morton should listen to the views of Albertans and support an expansion of the Canada Pension Plan (CPP). Dennis Mol, president of the Alberta Division of CUPE, called on Morton to support a proposal to expand the public pension […]
A new research study released by the Mowat Centre at the University of Toronto examines the fiscal impact of gradually raising the minimum eligibility age for Canada Pension Plan/Quebec Pension Plan (CPP/QPP) benefits. The paper—Is 70 the New 65? Raising the Eligibility Age in Canada, by Martin Hering and Thomas R. Klassen—suggests that raising eligibility […]
The Alberta Federation of Labour (AFL) is calling the Alberta government out on its stance against an enhanced Canada Pension Plan (CPP). In a report released on November 16 by the AFL, It IS broke…so fix it!, the labour organization makes it clear that it believes the provincial government is not acting in the best […]
Pension plans could become an election issue for the federal Liberal party. A proposal obtained by the New Democratic Party and presented to the Liberal caucus suggests a voluntary supplemental pension plan and reduction in the limit of one year retroactive payments for late claimants of Canada Pension Plan (CPP) benefits could be in […]
Despite the criticism of our pension system, the second annual Melbourne Mercer Global Pension Index has ranked Canada’s as No. 5, ahead of the U.S., the U.K. and France. “What this says is that Canada’s pension system is continuing to rank among the better systems of the world,” says Scott Clausen, a partner with Mercer. […]
More than three quarters of Canadians support increasing Canada Pension Plan (CPP) benefits, according to the Future of Pensions poll, which surveyed 2,020 people across Canada. Also, 80% support increasing federal payments to senior citizens, and about 50% believe the government is moving too slowly in reforming Canada’s pension system. Additional survey findings include: […]
Canadian federal and provincial finance ministers met in Charlottetown in June 2010 and moved a few steps closer to reaching agreement on the expansion of benefits payable from the Canada Pension Plan (CPP). The objective of CPP enhancements is to provide increased pension coverage for millions of working Canadians, albeit with increased payroll taxes […]
The federal government has put a plan into motion to keep older workers in the workforce longer—a move that it hopes will lessen the future labour shortage when the baby boomers retire. The Federal Finance Minister Jim Flaherty has announced that as of 2012, Canadians will be allowed to draw their Canada Pension Plan (CPP) […]
One of the good things to come out of the current economic crisis is that pensions are suddenly a hot topic—not just among actuaries, but among the media, politicians, and the general public. In the wake of the financial downturn, many plan members are apprehensive about the future of their pension. At the same time, […]