QPP contributions will increase while workers who retire before age 65 will have their QPP benefits further reduced
Pensions and Retirement Security
"As a mechanism for addressing the deficiencies in Canada’s retirement income system, PRPPs are greatly inferior to an expanded CPP."
Level exceeds the previous high reached in the second quarter of 2008.
Two thirds cite lack of funds as reason for not making RRSP contribution.
Payments under OAS and GIS will rise 0.5 percent.
Canadians believe they'll work longer than the traditional retirement age of 65, they're less confident about their retirement outlook, and they're concerned about their financial well-being.
Canadians 35-54 years of age are the most likely to have withdrawn money from their RRSP
Forty percent of working Canadians age 55 or older view their financial plans for retirement as less than adequate.
At issue is the fact that the federal government raided a $28 billion surplus from pension plans of federal public service employees
“The notion that small businesses will join a PRPP because it’s simpler than existing employee-sponsored options is a bit of pipedream.”