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Reforming Canada’s pension system

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Mike Murphy:

While I didn’t attend the conference on Pension issues, it sounds like almost all agree that improvements to CPP will go a long way to protecting the future retirements of working Canadians.

All except the Canadian Federation of Independent Businesses who continually argue that improvements to CPP will hurt job growth etc.

It’s time for the CFIB to get onboard with those representing working Canadians, and those industry experts and research companies that see the need to improve retirements for all working Canadians. After all, the upside for businesses are many, not the least of which is having seniors who can afford to buy from those very businesses that continually say no to CPP improvements.

The real solutions to address the needs of many seniors who will face a retirement in poverty is mandatory improvements to CPP. RRSPs are not used by those working Canadians who can least afford to contribute. And unless all employers/employees make mandatory contributions to an improved CPP we will continues to see millions of working Canadians face a retirement in poverty.

Let’s hope that the federal government will be convinced by the provinces and those many experts who do not have a vested interest continuing with the old fixes that have failed working Canadians for many years. Let’s hope that the Feds do the right thing for those Canadians who are just entering the work force with little prospect of big RRSP/ PRPP accounts or good defined benefit plans.

Mike Murphy

Tuesday, December 03 at 10:15 am | Reply

Gord C.:

Just a real simple question I have for our Government Where has all the pension money gone from all the people who have died before they retired. Make you wonder

Wednesday, December 04 at 2:24 pm | Reply

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