CPP enhancement

Retirement or free degrees for the kids: Which comes first?: Mayers

Piggy Bank with retirement savings message

One of the great worries for parents is how to balance their needs for retirement with a desire to take care of their kids and give them a financial helping hand One of the great worries for parents is how to balance their needs for security in retirement with a desire to take care of their kids now and give … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News, Your Finances

CARP and the ORPP

pension fund

CARP’s polling over the years has demonstrated that the vast majority of members support a supplementary UPP or an increase to the CPP. Therefore, CARP is supportive of the proposed Ontario Retirement Pension Plan and would press for such a plan regardless of which party forms the government after the June 12th election. Prior to the recent Ontario Budget, CARP … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News, Your Finances

Will a health crisis tarnish your golden years? Your retirement plan might be jet skiing in the Caribbean, but what if life has other plans for you

illness

Mary wouldn’t call them her golden years. At 75, the Ottawa widow lives tightly on $25,000 a year. Her condominium fees eats up most of her income. There is little cash left over each month after she pays for food, her car, insurance, Internet service and her phone. She receives no income supplement. “Save, save, save. Put money away,” says … Read more

Posted in Advocacy, Your Health

Ontario pension proposal would benefit young workers most

canadian-pension-plan-earnings

Only those not covered by workplace plans would get supplement to CPP The proposed Ontario Registered Pension Plan would not likely do much good for the baby boom generation, but it would be a big benefit for people who are now in their 20s and 30s. The plan, proposed in Ontario’s budget May 1 and never publicly debated because of … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News, Your Finances

Proposed Ontario pension plan sparks early campaign debate

Premier Kathleen Wynne speaks to the media in Queen’s Park Feb. 19, 2013. Ms. Wynne’s first week as Ontario Premier was nearly derailed by old scandals from the McGuinty era.

With the provincial election writ only having dropped yesterday, it remains to be seen what issues will dominate the campaign in the weeks to come, but it’s probably a safe bet the Liberals’ proposed Ontario retirement pension plan will be among the topics up for debate by the parties. The establishment of a new provincial pension plan was one of … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News, Your Finances

We must take action now to secure our financial future

Retirement Savings

For a host of reasons, the majority of Baby Boomers failed to plan adequately for their retirement. Just to make ends meet, many senior citizens are now working well past 65. Across Canada, the median senior exists on far less than $30,000 a year. It’s even more troubling that the next generation of Ontarians can’t get past today’s financial obligations … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News, Your Finances

Ontario budget receives mixed reaction

Golden Egg with Retirement Investment Documents

Ontario unveiled budget details about an Ontario Retirement Pension Plan (ORPP) and legislation for pooled registered pension plans (PRPPs)—and the reaction has been mixed. Here are just a few of the comments about the budget: By announcing its intent to create the ORPP, “the Ontario government launched the first major pension reform initiative in Canada since Paul Martin’s CPP reforms … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News

Stop the Presses: Ontario Announces the Creation of a New Retirement Pension Plan

Ontario Leg

Other Provinces may Join in the Plan to Give it National Significance  May 2, 2014: The Ontario government announced in yesterday’s budget that it will create a province wide pension plan to allow Ontarians to supplement their retirement savings. The Ontario Retirement Pension Plan (ORPP) is based on the CPP and has many of the same features as the national plan. … Read more

Posted in CPP: Time to Act, Your Finances, Your Rights

David Dodge: “CPP Enhancement Essential”

David Dodge is the former Governor of the Bank of Canada.  His new report argues that expanded CPP is essential.  The study tackles and takes down the toughest CPP expansion criticism.

CPP enhancement is crucial to helping Canadians save adequately for retirement, according to a new report released David Dodge, the former Governor of the Bank of Canada. Canadians do not save enough to support accustomed standard of living. Two-thirds of Canadians don’t have pension plans or access to savings vehicles that would produce the returns needed to secure finances in … Read more

Posted in CPP: Time to Act, Your Finances

Ontario reveals plans for pension plan, says it can be integrated with CPP

pension fund

TORONTO – Ontario released a blueprint for a homegrown pension plan in its spring budget Thursday, but left the door open to expanding the program to other provinces and even suggested it could be integrated into the national Canada Pension Plan in the future. The Ontario Retirement Pension Plan is Premier Kathleen Wynne’s response to the federal government’s refusal in … Read more

Posted in Advocacy, CARP in the News, CPP: Time to Act, News