Canadians believe they'll work longer than the traditional retirement age of 65, they're less confident about their retirement outlook, and they're concerned about their financial well-being.
Pensions and Retirement Security
Canadians 35-54 years of age are the most likely to have withdrawn money from their RRSP
Forty percent of working Canadians age 55 or older view their financial plans for retirement as less than adequate.
At issue is the fact that the federal government raided a $28 billion surplus from pension plans of federal public service employees
“The notion that small businesses will join a PRPP because it’s simpler than existing employee-sponsored options is a bit of pipedream.”
“Alberta simply don’t believe that there should be a public response to what they consider to be a private issue. It’s not a view that the government of Nova Scotia shares.
The percentage of paid workers covered by a pension plan declined, from 41% in 1998 to 38% in 2008.
Expanding the CPP would ultimately save governments money, by making future retirees less financially dependent.
Special House of Commons debate shows broad-based support for expanded CPP
Help build the momentum for an expanded CPP by contacting your Member of Parliament.