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  • Charting a path to $15/hour for all BC workers November 22, 2017
    In our submission to the BC Fair Wages Commission, the CCPA-BC highlighted the urgency for British Columbia to adopt a $15 minimum wage by March 2019. Read the submission. BC’s current minimum wage is a poverty-level wage. Low-wage workers need a significant boost to their income and they have been waiting a long time. Over 400,000 […]
    Canadian Centre for Policy Alternatives
  • CCPA-BC joins community, First Nation, environmental groups in call for public inquiry into fracking November 5, 2017
    Today the CCPA's BC Office joined with 16 other community, First Nation and environmental organizations to call for a full public inquiry into fracking in Britsh Columbia. The call on the new BC government is to broaden a promise first made by the NDP during the lead-up to the spring provincial election, and comes on […]
    Canadian Centre for Policy Alternatives
  • Income gap persists for racialized people, recent immigrants, Indigenous people in Canada October 27, 2017
    In the Toronto Star, CCPA-Ontario senior economist Sheila Block digs into the latest Census release to reveal the persistent income gap between racialized people, recent immigrants, Indigenous people, and the rest of Canada.
    Canadian Centre for Policy Alternatives
  • CCPA in Europe for CETA speaking tour October 17, 2017
    On September 21, Canada and the European Union announced that the Comprehensive Economic and Trade Agreement (CETA), a controversial NAFTA-plus free trade deal initiated by the Harper government and signed by Prime Minister Trudeau in 2016, was now provisionally in force. In Europe, however, more than 20 countries have yet to officially ratify the deal, […]
    Canadian Centre for Policy Alternatives
  • Twelve year study of an inner-city neighbourhood October 12, 2017
    What does twelve years of community organizing look like for a North End Winnipeg neighbourhood?  Jessica Leigh survey's those years with the Dufferin community from a community development lens.  Read full report.
    Canadian Centre for Policy Alternatives
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Archive for 'pensions'

Income transfers, means testing, and universality, oh, my!

Overall, the NDP leadership race has provided a lot for progressive economists to be excited about. From progressive tax reform to fair wages and worker’s rights, poverty fighting income transfers to new universal social programs, the four leadership candidates have put substantive and laudable social democratic proposals on the table. Unfortunately, the last debate waded […]

The NDP and Old Age Security

NDP leadership candidate Jagmeet Singh has proposed (with few details) to reform the current Old Age Security system by integrating Old Age Security (OAS) and the Guaranteed Income Supplement (GIS.) “A Jagmeet Singh-led government will implement the Canada Seniors Guarantee to ensure that no Canadian senior has to live in poverty. The Canada Seniors Guarantee […]

The Federal Role in Poverty Reduction

Over at the web site of the Calgary Homeless Foundation, I’m co-author of a blog post titled “The Federal Role in Poverty Reduction.” Points raised in the blog post include the following: -Canada’s Minister of Families, Children and Social Development has been tasked to lead the development of a Canada Poverty Reduction Strategy. -Total public […]

Ten things to know about the CPP debate

This fall, Canada’s Parliament will debate a proposal to expand the Canada Pension Plan (CPP).  And over at the Behind the Numbers web site, I’m co-author of a blog post titled “Ten things to know about the CPP debate.” The blog post’s other co-authors are Allan Moscovitch and Richard Lochead. Points raised in the blog […]

Guaranteed Annual Income

Over at the web site of the Calgary Homeless Foundation, I’ve written a blog post titled “Ten things to know about Canada’s guaranteed annual income debate.” Points raised in the blog post include the following: -There are people and groups on both the left and right of the political spectrum who favour a Guaranteed Annual […]

Federal Income Support for Low-Income Seniors

Over at the Behind the Numbers web site, Allan Moscovitch, David Macdonald and I have a blog post titled “Ten Things to Know About Federal Income Support for Low-Income Seniors in Canada.” The blog post argues—among other things—that if the age of eligibility for Old Age Security were to move from 65 to 67, the […]

Is your pension in climate denial?

Fossil fuel divestment campaigns have become a focus for climate change organizing, targeting university endowments, churches, foundations and pension funds. While the motivations are primarily moral—if it is wrong to wreck the climate, it is wrong to profit from that wreckage—there are important economic arguments for divestment. If we are to have a reasonable chance […]

Declining pensions and bargaining power

[Cross-posted on my blog here.] It’s relatively common knowledge that employer-run pensions have been scaled back over the past few decades. I’ve decided to dig up some data on pensions for this post to see just how this has taken place in Canada, motivated by a recently-released analysis of US pension reform that finds contradictions in […]

The relentlessly hypocritical Gwyn Morgan

Another column by Gwyn Morgan in the Globe and Mail and another case of a 0.1 percenter telling the rest of us to “Do as I say, not as I do.” This time, it’s Gwyn recycling trash from the CFIB and Fraser Institute to claim defined benefit pensions for public sector workers are too generous […]

Canada Post’s vow to ‘protect taxpayers’ needs a reality check

This piece was first published in the Globe & Mail. In a move that caught everyone off-guard, Canada Post announced a five point “action plan” last week that included phasing-out home delivery of the mail over the next five years, making Canada the only G7 nation to do so. Why? To “protect taxpayers.” Of all the reasons that merit […]

Global carbon budget is a harsh reality check for Canadian investors

The recent report of the Intergovernmental Panel on Climate Change (IPCC) should be a wake-up call for Canada. With a development model based on ever more fossil fuel extraction, Canada’s economy and financial markets are on a collision course with the urgent need for global climate action. The IPCC, for the first time, stated an […]

Are Canadian investors headed for a carbon cliff?

An oped based on my and Brock Ellis’ recent report, Canada’s Carbon Liabilities, was published in iPolitics (alas, behind a pay wall): Canada’s economic development model is on a collision course with the urgent need for global climate action. Worldwide, extreme weather events from drought to floods to powerful storms and record-breaking temperatures are making […]

Carbon bubbles and fossil fuel divestment

Divestment from fossil fuels is an idea whose time has come. Sparked by Bill McKibben’s Rolling Stone article last summer, “Global Warming’s Terrifying New Math”, divestment campaigns are now up and running on over 300 university campuses in the US, with 4 early victories already notched. Students in Canada have declared tomorrow (March 27) Fossil Fools Day, a national day […]

Later Retirement: A Win – Win Solution?

The C D Howe Institute have put out a study on later retirement by Peter Hicks, a former senior official with HRSDC and the OECD who has written a lot on the policy implications of ageing societies. I find this to be one of his less convincing efforts. The argument – with parenthetical comments – […]

How Much Will YOU Lose from OAS Deferral??

Announcing a bad policy 10 years in advance doesn’t make it a good policy. So the fact that the Harper government is giving people at least 10 years to prepare for 2 years of life without an important source of income, hardly makes it OK — as so many media commentators have tritely implied.  In […]

OAS, the Budget and the Baby Boomers

The Budget justifies raising the age of eligibility for OAS and GIS on the grounds that  the long-term fiscal sustainability of the program is being undermined by rising life expectancy. No estimates of savings are provided. They will be very modest. Given that average life expectancy at age 65 is 20 years, raising the eligibility […]

Budget 2012: Pennywise But Pound Foolish

Marc, Andrew and Toby have posted substantial analyses of yesterday’s federal budget and I have some comments in today’s Hamilton Spectator. My two cents about the budget’s economic forecasts follow. Table 2.1 envisions a 7.5% unemployment rate this year, slightly above last year’s rate of 7.4%. That seems like an admission of failure from a […]

The Illusory Savings of Hiking the Age of Eligibility for OAS

Former Assistant Chief Statistician Michael Wolfson shows that governments collectively stand to save very little from hiking the age of eligibility for the OAS/GIS, a measure that is widely expected to be in Thursday’s Budget. The math (based on the SPSDM): In 2011, cutting OAS/GIS from seniors age 65 and 66 would save the federal […]

Pooled Registered Pension Plans

PRPPs – or what I prefer to call Mr. Flaherty’s Inferior Pension Plan or FLIP- are a poor alternative to the option of expanding the Canada Pension Plan. Unlike the CPP, PRPPs will not provide a defined pension benefit  in retirement; there is no required employer contribution; there is no inflation indexing; costs will be […]

Stapleton on Harper’s Proposed OAS/GIS Changes

John Stapleton has an opinion piece out on Prime Minister Harper’s proposed changes to Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). I find the following quote from Stapleton to be particularly troubling: By providing OAS and GIS at age 65, Canada has greatly reduced the incidence of poverty among seniors. By moving the […]

Old Age (In)Security

Here is an overview of today’s timely Canadian Centre for Policy Alternatives paper on Old Age Security: Old Age Security (OAS) is the basic building block of Canada’s retirement income system. Canadians build on that foundation, saving for their retirement with benefits from the Canada or Quebec Pension Plan, a workplace pension if they’re lucky […]

Diane Finley’s Demographics

On CTV yesterday, human resources minister Diane Finley said (45 seconds into this interview): “As we go forward, we’re going to have three times the expense in Old Age Security as we do now, but we’re only going to have half the population to pay for it.” That sounds pretty scary. If the total cost […]

The OAS Eligibility Age and Employment

It is argued that eligibility for OAS/GIS discourages older Canadians from remaining in the workforce, and that we need to keep them working to avoid labour shortages and a sharp rise in the so-called dependency ratio. But the fact of the matter is that 65 is not the trigger for retirement that it used to […]

Is The OAS/GIS Program Unaffordable?

No. Of course not. Even if the government waves around scary large increases in nominal dollar terms. As has been widely reported, the most recent OAS actuarial report shows that total program expenditures will rise from $38.8 billion in 2011 to $107.9 billion in 2030. However, the dollar figure reflects, not just an increase in […]

Raising The OAS Eligibility Age Would Raise Poverty in Old Age

Canadian Press have put out a story based on a research paper by Richard Shillington which was commissioned by HRSDC from Informetrica, and obtained by the CLC through an Access to Information request. Receiving OAS is required to makes seniors eligible for the GIS top up, which provides one in three seniors with a supplement […]

Low Income and the Age of Eligibility for OAS

To reprise a now topical earlier blog,  hiking the age of eligibility for OAS will have the biggest impact by far on future seniors who are in low income. Many if not most of this group are unable to work due to disability or ill health. If the age of eligibility for OAS and GIS […]

Hiking the Retirement Age is the Wrong Answer to the Retirement Crisis

Raising the age of eligibility for Old Age Security/Guaranteed Income Supplement (OAS/GIS) benefits is the worst possible way to deal with the retirement income security crisis facing Canadians. Experts such as former Assistant Chief Statistician Michael Wolfson project that one half of all middle income baby boomers face a severe cut to their living standards […]

When Will The Baby Boomers Retire?

Canada’s population, we are frequently told, is rapidly aging. The big baby boomer cohort is headed out of the workforce, meaning  that we face a future of very slow labour force growth and even possible shortages of workers. CIBC Economics has just gone so far as to argue that the Bank of Canada can afford […]

Investors Gouged by High Fees

Good coverage in the Globe for the CLC’s calculations on the huge negative impact of high management fees on investment returns from RRSPs and the like, as opposed to the low cost CPP. Does anybody out there find the investment fund industry response (we are providing good advice) convincing? If so, you will just love […]

The financial wealth of Canada’s top 1%

Following up on my post on wealth and income of the top 1%, Eric Pineault wrote to add some data on financial wealth distribution for Canada. He had a research assistant comb through microdata from Statcan’s Survey of Financial Security from 2005, and notes: “the 1% richest (all households are classed according to net worth rather […]