January 1, 2011

KEY FINDINGS

The majority of members reject the idea of PRPPs, both outright, and after it is explained that they will not feature the safeguards of the CPP. The majority of members are uninterested unless PRPPs feature the same low rates, risk guarantees and defined benefits as the CPP, and these requirements are “extremely important” to close to one half of members.

Members do not trust the private sector to provide safe, risk-free, low-cost retirement plans, and the majority agree an enhanced CPP has a vital role to play in retirement security, whether along with PRPPs or alone.

Members are in favour of auto-enrolment in PRPPs only if they have fee caps and other protections and if there is a choice of plans in which to enrol.

Members see little humour in the call for the retirement age to be raised.

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Keywords: PRPP