Fewer workers today than a half-century ago have workplace pensions…and, clearly, Canadians are not filling the void with increased personal savings. Instead, they take on ever-increasing levels of debt.
According to the evidence, a significant proportion of future Canadian retirees are going to suffer measurable deterioration in their standards of living.
The best available Canadian data all have the same bottom line: without pension reform, many Canadians will experience a significant decline in standard of living at retirement.
Having access to employer health insurance plans is a safeguard and one that should not be denied based on age.
Many health and employment policies have not kept up with the changing demographic reality.
Imagine having your private health insurance — dental, vision, prescription drug, life, travel and disability coverage — suddenly terminated by your employer at age 65 while you’re still working for them, and just when you may really need it.
The Fraser Institute has argued recently that the federal government has failed to make a convincing case for Canada Pension Plan (CPP) expansion.
Last week, the media carried a story about a nine-year-old boy in New Brunswick who was denied private health coverage because of his weight (at 5 foot 2 inches and 135 pounds). His family were shocked – as were many reading the story – that a child could be denied private health coverage in Canada.
Amazingly, eight of ten provincial finance ministers and the federal government have agreed to a modest increase in the Canada Pension Plan (CPP).
Pension reform continues to hold interest across the country, especially given the willingness of the federal Conservatives to at least talk about expanding the Canada Pension Plan (CPP).