Improving CPP makes sense

Posted on November 12, 2013 in Social Security Debates – Letters to the Editor/Have your say
11/12/2013.   Ken Georgetti / Jerry Dias

In their Nov. 5 column, Caution needed in plan to expand CP, Fraser Institute members Sean Speer and Charles Lammam claim it would be harmful to improve the Canada Pension Plan. They would prefer Canadians use RRSPs and other products offered by the financial-services industry. That industry charges among the highest management fees in the world, more than two per cent on average, which skims off 40 per cent of your savings over a lifetime.

Why would the Fraser Institute continue to push this alternative? Among those who support an improved CPP are: David Dodge, former governor of the Bank of Canada; Don Drummond, former chief economist for TD Bank; and Jim Leech, head of the Ontario Teachers’ Pension Plan.


Canadian Labour Congress, Ottawa 

All businesses, small and large, should embrace enhancements to the Canada Pension Plan.

It’s not only good social policy, it’s good economic policy. That’s because businesses need consumers, and consumers need income. An enhanced CPP will provide just that. An enhanced CPP means Canadians will have stable incomes in retirement, which means sales and income for Canadian businesses.

More than that, though, today’s workers would be able to be more confident of their economic futures.

JERRY DIAS, Unifor, Toronto

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