I was recently trolling through Statistics Canada (LICO – After Tax) data on CANSIM and discovered to my slight surprise that the incidence of poverty (or low income as StatsCan politely prefers to describe it) has fallen very significantly among the elderly (age 65 and over.) I knew the rate was relatively low and had been falling, but it has […]
Read moreBack in the 1960s and 1970s there was a big Canadian pensions debate, centred mainly on the issue of how to address the then pressing problem of poverty and income security in old age. It resulted in the launching of the contributory CPP/QPP and the improvement of the demogrant Old Age Security/ Guaranteed Income Supplement. Public pensions in tandem now […]
Read moreToday’s Ottawa Citizen has a good editorial on the existence of two publicly-funded school systems in several provinces. The original concept of one system for Protestants and another for Catholics has evolved into a “public”, secular system and a “separate” system that teaches some Roman Catholicism but is also attended by many non-Catholics. Many schools cannot afford needed supplies, many […]
Read moreThe expert panel on older workers appointed by the Minister of Human Resources and Social Development has released a short discussion paper. http://www.ow-ta-sec.org/en/consultation/discussion_paper.shtml The background to this panel (promised in the 2006 Budget) was a political push in 2005 for an income support program for displaced older workers – a particularly hot topic in Quebec and, increasingly, in Ontario given […]
Read morehttp://research.cibcwm.com/economic_public/download/srpt_rrsp_022007.pdf An interesting piece on retirement savings from CIBC. It highlights the huge increase in unused RRSP contribution room in recent years, and the widening contribution gap between higher and lower income Canadians. As of 2005, the median total asset value of RRSPs held by pre retirement persons aged 55-65 was just $60,000 – hardly enough to secure a decent […]
Read morePierre Fortin, who I usually find to be an interesting economic commentator on public policy issues, makes the case for demographic apocolypse. i used to share that fear, but I’ve done some number crunching on this issue in the BC context (i.e. more seniors than the national average) and am not convinced that the problem is as large as Fortin […]
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