The head of the Quebec Employers Council has written a letter to Canada’s provincial and territorial finance ministers expressing its concern about an enhanced Canada/Quebec Pension Plan (C/QPP).
While the organization favours encouraging saving for retirement and promoting financial security, it still has reservations about the relevance and benefits of such a measure.
Yves-Thomas Dorval, president of the council, says the organization “is strongly opposed to any increase of the tax burden for Quebec and Canadian employers in terms of payroll taxes, and to any hike in contributions to public pension plans that are not offset by a revision of the benefits paid out by these programs or an equivalent reduction of contributions in other programs.”
He also believes that an improved C/QPP could hamper job creation and would also have a negative effect on seniors.
“Such an enhancement would not encourage the extending of an active life, which is the objective we should be accentuating in the current aging demographic context,” Dorval explains, adding that “it would instead encourage people to take early retirement.”