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 post include the following:
-CPP covers a smaller percentage of a retired person’s income than similar schemes in most OECD countries.
-CPP helps reduce poverty in Canada, but it doesn’t provide any of its beneficiaries with sufficient retirement income.
-CPP’s former Chief Actuary has proposed an expanded CPP scheme that would almost eliminate the need for private pension schemes in Canada. This proposal has been virtually ignored by most of Canada’s elected officials and journalists.
The link to our full blog post is here.