pension reform

Canadians heading for a retirement income crisis

DOMINO

With too many Canadians heading into retirement without enough savings, the debate now centres on what needs to be done to fix this looming problem. The warning bells have been clear, but they are growing increasingly louder: Canadians are not saving enough for retirement, and they’ve got to do something about it, quickly. “I think there’s a broad consensus that … Read more

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

Support builds for Wynne’s Ontario Pension Plan

Wynne Sousa Meeting on Ontario Solution - Feature image

OTTAWA — The federal Conservatives’ unwillingness to work with the provinces to find ways to enhance the retirement security of Canadians has been a disappointment, says Ontario’s premier. “We’re very disappointed with the federal government in its unilateral decision to shut down discussions on enhancing the Canada Pension Plan,” Kathleen Wynne said Monday during part of her one-day visit to … Read more

Posted in Advocacy, Campaigns, CPP: Time to Act

North Fraser’s Bruce Bird on the David Berner Show

DBERNER 2

Can anyone in Canada afford to retire? What is happening to all the private and public pension funds? CARP’s North Fraser Chapter Chair, Bruce Bird, discusses the pension fix we are proposing with David Berner on this Shaw TV television program.  Watch a video of the interview here:

Posted in CARP in the News, Your Finances

Top 10 Dumb Things People Say About Pensions

Retirement Savings

By Susan Eng A lot of Canadians don’t save enough for retirement and many oppose any suggestion to increase CPP or set up new supplementary pension plans. Here are their reasons: 10. I plan to work ’til I drop! That would be great if you stayed healthy and you always had a job. Canadians are certainly living longer, healthier lives … Read more

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

Retirees, Don’t Wait Around for Government To Fix the Pension Crisis

Three piggy banks with retirement savings message

By Susan Eng, VP of CARP Advocacy The key challenge facing the Ontario Advisory Panel on Retirement Income Security is to determine how best to help middle income earners save more for their own retirement. No option is off the table. And no option is the front runner. Any solution must address the chronic under-saving that threatens to reduce the standard of … Read more

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

Jim Flaherty unveils grab bag federal budget

jim-flaherty

OTTAWA—Finance Minister Jim Flaherty pledged relief for consumers, hit smokers with higher taxes and predicted a long-awaited budget surplus in an economic blueprint that was long on promises and short on immediate help for Canadians. In a grab bag budget with a little something to catch the eye of almost everyone, Flaherty doled out limited new funding for job training, university researchers, … Read more

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

The great CPP debate: Key considerations for plan sponsors

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by Susan Eng There are good reasons for those who are already providing workplace pension plans to support an increase to the CPP. The most obvious is that higher CPP benefits reduce pension obligations under most plans. According to a recent survey by Morneau Shepell, more than half of those polled were willing to increase employer contributions to the CPP … Read more

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

Ontario pension plan details coming in spring

Wynne Sousa Meeting on Ontario Solution - Feature image

The province of Ontario expects to announce details of its provincial pension plan in a few months, according to the premier. “It’s our plan to bring this forward in the spring,” Kathleen Wynne told reporters at Queen’s Park on Tuesday. “This is going to be a quick process because we have said that we are going to, in the very … Read more

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

Pension woes: Middle class faces greatest risk

Pension Reform Directional Sign

Will 2014 be the year the CPP gets fixed? If you’re middle-aged and middle-class, you may be in trouble in retirement unless Canada’s pension woes get addressed, pension experts warn. Those in the middle are the most likely to face a shortfall in their retirement savings, they say. While lower-income earners are fairly well covered by public retirement programs and … Read more

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

Bill Black: CPP hike should be gradual

Egg Labelled Retirement

Canadians don’t save enough for retirement. Expanding the CPP is a good idea, but it must be done slowly and carefully. When the Canada Pension Plan was established in 1965, it was on a less than solid foundation. The combined contribution rate of 3.6 per cent of pensionable earnings was much less than required to properly fund the benefits, and … Read more

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