Phased retirement

In order to provide for an appropriate period of consultation on the technical aspects of this measure, it is proposed that 2008 be the first year of service in respect of which an employee will be permitted to accrue benefits under a defined benefit RPP while in receipt of a partial pension.

The Government will proceed with any changes that are necessary to the federal Pension Benefits Standards Act, 1985 to accommodate phased retirement in federally regulated pension plans. Provincial pension benefits legislation may also need to be modified to accommodate this measure”.

There are several other pension issues to be resolved and CARP has been asking for a comprehensive review of the public pension system. Some headway has been seen, but definitely only very small steps in a much needed process to ensure that poverty among too many seniors becomes history. It is estimated that 1.57 million seniors collect Guaranteed Income Supplement and therefore struggle to make essential ends meet.

Copyright 2007 CARP.ca