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Money is a big worry for retirees.
Money is a big worry for retirees.
(FtLaudGirl/Getty Images/iStockphoto)

Pay now or pay later: Will Canada suffer without a CPP shakeup?

Prince Edward Island’s finance minister is championing a proposal to increase both the contributions and the benefits in the Canada Pension Plan. While many Canadians won’t appreciate the idea that Ottawa might impose a mandatory increase in retirement savings on them, we’re not getting the job done by ourselves – and it is increasingly an issue of national economic security.