There's a big push underway to reform Canada's public retirement fund to help those who aren't saving enough for their golden years. Two experts look at the pros and cons of expanding the plan.
'Big CPP' is at the expense of the young
Chronically low investment returns on inadequate saving are making more Canadians worry about retirement. Fair enough – but the bigger Canada Pension Plan many unions and provinces are pushing is a bad response. Durable pension improvements for people currently working must rest on more saving by those same people. Instead, “Big CPP” threatens another wealth grab at the expense of the young.
It's time to expand CPP benefits
Finance Minister Jim Flaherty thinks that expanding Canada Pension Plan benefits might be a good idea, but just not now. The Canadian Federation of Independent Business thinks it might never be a good idea and has launched a national campaign against the reform.
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