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CPP expansion debate heats up

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If I’m going to need to put more money away for retirement, I want my heirs to benefit from the surplus after I pass – even if I do not have a surviving spouse or dependent children.

Friday, November 29 at 3:45 pm | Reply

JP Laporte:

Canadians are missing a huge chunk of the debate around pension coverage and the need to expand the CPP.

Right now, the media has focussed on the voluntary PRPP option favoured by the federal government and the CFIB, and the NDP/CLC push for a mandatory expansion of the current CPP.

Completely missing from the debate is the original idea first introduced in 2004 (before the 2008 market meltdown and the various provincial pension reform commissions) of a voluntary Supplemental Canada Pension Plan. The idea was formulated by the federal Liberal Party in its 2011 election platform as the Secured Growth Option.

The Liberal version borrows the best from both policies: it uses the economies of scale, professional management and universality of the CPP, while being voluntary and therefore respectful of the small private sector (the CFIB constituency) and competes with existing private sector offerings (therefore pro-competition).

It is unfortunate that both extremes of the political spectrum have dismissed it without letting Canadians make their own determination as to whether it makes more sense to them.

Monday, December 02 at 11:00 am | Reply

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