retirement savings

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The tone and language used by Professor Rhys Kesselman in his criticism of our recent study on the CPP and RRSPs is a far cry from the professionalism and decorum one would expect from a distinguished economist and holder of a Canada Research Chair. Rather than stick to debating the facts, Professor Kesselman stoops to innuendoes and school yard taunts to disparage our work. Reasonable people should be able to disagree without being disagreeable.


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The federal government's recent introduction of legislation to enable Pooled Registered Pension Plans (PRPPs) drew the expected responses from interested parties. The financial industry expressed support, while labour union executives described the new retirement savings plans as a mistake on the basis that it is wrong to earn a profit for providing a service.


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The Institute for Research on Public Policy is the latest organization to publish a study with a proposal to fix Canada’s pension system. However, it’s a proposal akin to using a battering ram to swat a fly.

Like many of the other proposals floated by a variety of groups, the IRPP study suggests expanding mandatory savings by expanding the Canada Pension Plan (CPP). Similar to all the other proposals, this latest one is overkill for a policy issue that has seriously been overblown, and comes with a number of adverse consequences.