The head of the Ordre des CPA du Québec told the province’s Committee on Public Finance can’t continue ignoring the flaws in the current retirement income protection system.
“If nothing is done, the system is set to become a tremendous burden on future generations and may not be able to guarantee sufficient retirement income for the majority,” said the organization’s chair, Stephan Robitaille.
In addressing the committee members, the Ordre des CPA recognized that the ideal system is unquestionably the DB plan because it provides the best protection for workers.
However, at the same time, the group stressed the importance of implementing measures for alleviating the sensitivity of this type of plan to fluctuations in the economic cycle, and by extension the risks incurred by employers.
The province’s Committee on Public Finance is currently studying the recommendations set out in the D’Amours report.
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