Finance Minister Joe Oliver announced that the Government of Canada will consult with individuals, the financial sector, retirement income experts and other stakeholders on options for a voluntary supplement to the Canada Pension Plan (CPP). Discussion points for consultation include:
- Whether a voluntary supplement to the CPP should be an option for Canadians to save for retirement.
- Possible design features that could facilitate voluntary participation.
- The level of flexibility that should be permitted for participants. Key issues related to flexibility are the locking-in of contributions and establishing appropriate limits on contributions.
- The level of portability.
- The role, if any, employers might play.
- How funds should be managed.
The IIAC will share it views on this important subject. I was interviewed on this topic by Catherine Murray on BNN’s Business Day. See the interview here.
