Critics say premium increases will hurt businesses, paycheques and the economy. Proponents say Canada Pension Plan enhancement will provide a needed and affordable boost to retirement security. What do you think?
Have your say in the latest Benefits Canada online poll. Do the CPP changes hit the mark?
The deal has, of course, largely put to rest the prospect of the Ontario Retirement Pension Plan for one province only. But the agreement has prompted some criticism from public pension advocates, with the United Steelworkers having suggested it doesn’t go far enough in increasing benefits. On the other hand, premiums will rise to 5.95% by 2023, prompting groups like the Canadian Federation of Independent Business to decry the impact on employers. But does the long timeline for increasing premiums soften the blow? Read more about the details of the changes and don’t forget to have your say in the poll.
Read: Feds confirm $250M price tag for CPP deal as premium details released