If government workers were compensated at private sector norms, Canadian families would have an extra $3,110 per year to put toward their own retirement, according to the Canadian Federation of Independent Business.
I am now going to publicly flip-flop and add my voice to calls for CPP expansion, which I now believe to be an inevitable development.
Ontario Premier Kathleen Wynne warns that unless retirement incomes are improved, Canada will suffer the consequences.
In its fall economic statement, the Government of Ontario said it would take steps to make the province's retirement income system better.
The Canada Pension Plan fund ended the second quarter of fiscal year 2014 with net assets of $192.8 billion, compared with $188.9 billion at the end of the previous quarter.
Finance Minister Jim Flaherty supports an expanded Canada Pension Plan but not while the economy is still in recovery mode.
The Canadian Restaurant and Foodservices Association says enhancements to the Canada Pension Plan are worrisome for labour-intensive restaurant employers and will increase the cost of hiring workers.
Provincial and territorial finance ministers reached an agreement on conditions to expand the Canada Pension Plan on Friday.
The Canada Revenue Agency says the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2014 will be $52,500, up from $51,100 in 2013.
The Government of Ontario wants the Canada Pension Plan (CPP) to be improved and will set up its own plan if needed.