5 Minutes for Business: Pension Intervention: How to Fix the CPP without Tanking the Economy
In this edition of 5 Minutes for Business, Hendrik Brakel, our Senior Director, Economic, Financial and Tax Policy, looks at how the government can help Canadians save for their retirement without hurting the economy.
We’ve all heard the argument that Canadians don’t save enough and we must act now. The government seems determined to increase contributions to the Canada Pension Plan, and the Finance Minister has said repeatedly that he hopes to reach an agreement with the provinces by the end of 2016. With Ontario’s Retirement Pension Plan set to commence enrollment in 2017, the race is on to find a federal solution that will avert a patchwork of provincial programs cropping up.