Responses from the Provincial Finance Ministers are trickling in and we will post them as they continue to arrive.
Ken Krawetz, Deputy Premier and Minister of Finance for Saskatchewan wrote responded in a letter dated January 29th 2013. He states that Saskatchewan supports voluntary approaches to improving retirement savings and says that they are not currently supporting a CPP enhancement out of concern for the impact it could potentially have employers and lower-income employees. Please click here to read the full letter/response to CARP.
CARP’s position is that while all Canadians COULD benefit from an improved PRPP offering – the lower income groups will benefit most from a CPP enhancement. Fears that even modest mandatory employer contributions would “kill jobs” have never played out even with much more significant increases in CPP contribution rates in the past.