Virtually all proponents of pension reform want reforms to be fully funded. If ministers further delay pension reform, it will be increasingly difficult to meet retirement-income objectives in a timely way on a fully funded basis since phasing-in new benefits will take a very long time. Also, until the fate of the CPP is clearer, it will be hard to advise Canadians on whether participation in a PRPP makes sense.

Bob Baldwin, an Ottawa-based pension consultant, is the author of Pension Reform in Canada: A Guide to Fixing our Futures Again, published by the IRPP.

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Keywords: pension reform, PRPP, CPP, income