cover image: Improving Canada's retirement saving

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Improving Canada's retirement saving

28 Sep 2010

The third and fourth sections are analyses of experiences abroad and in Saskatchewan, and include an assessment of the political and policy obstacles to the intro- duction of similar programs in Canada. [...] The second component of the Canadian pension system is the mandatory earnings-related pension plan, the CPP/QPP.4 Following the 1997 reform, the contribution rate for both the CPP and the QPP currently (in 2010) stands at 9.9 percent of all earnings between $3,500 and $47,200. [...] This can be attributed to the generosity of the pension income floor, consisting of the OAS/GIS (Osberg 2001), and maturation of the CPP/QPP program (Myles 2000). [...] This outcome is partly attributable to the steady rise in the number of women in the workforce; improved access to pension plans for part-timers; and employment growth in those sectors of the economy with easy access to a pension plan and where women have a strong presence, such as education and health care (Schembari 2006). [...] The RRSP was created in 1957 (as the registered retirement annuity) to compensate for the lack of employer-sponsored pension plan coverage for a large segment of the workforce.

government politics economics economy insurance poverty taxation finance canada employment labour old age pensions pension schemes pensions retirement retirement income pension scheme welfare pension pension system occupational pensions occupational pension economic inequality retirees rrsps canada pension plan rrsp defined benefit pension plan kiwisaver

Authors

Marier, Patrik

ISBN
9780886452339 9780886452346
Pages
40
Published in
Canada

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