With finance ministers discussing potential enhancements to the Canada Pension Plan in Vancouver today, what would you like to see come out of today’s talks?
As Benefits Canada reported last week, a flurry of proposals are on the table as ministers discuss the issue in Vancouver. Ontario Premier Kathleen Wynne has pushed hard for a broad-based enhancement that would increase benefits along the lines of her government’s Ontario Retirement Pension Plan. Quebec Finance Minister Carlos Leitao, meanwhile, raised the idea last week of an enhancement targeted at middle-income earners.
Read: CPP debate heats up as flurry of positions emerges ahead of Vancouver meeting
Other suggestions have come from groups like the Association of Canadian Pension Management. It has touted a plan that would boost the CPP on earnings between 50 per cent and 100 per cent of the year’s maximum pensionable earnings threshold, with the ability for employers to provide a comparable workplace retirement plan in lieu. The association has also touted a mandatory workplace retirement savings arrangement for earnings above and up to 150 per cent of the threshold.
On the other side are those more reluctant to embrace changes that would boost CPP premiums for workers and their employers. Last week, Conservative finance critic Lisa Raitt questioned the federal government’s push to expand the plan, while provinces such as Saskatchewan have also cast doubt on proposals to enhance the CPP.
Read: Morneau briefing book raises red flags on Canadian public pension investment
The issue is the subject of this week’s Benefits Canada online poll. Don’t forget to have your say. What would you like to see happen at this week’s talks to expand the Canada Pension Plan?
As for last week’s poll results, Benefits Canada asked participants whether they’d give up perks or pay for more work-life balance. Seventy-two per cent of respondents said they would asTwenty-eight per cent said they wouldn’t give up pay or perks, suggesting
