As 2017 draws to a close, we turn our attention to the new year. As usual, there’s a lot happening in the Canadian pension environment. Below are four pension trends to watch for in 2018. 1. Canada Pension Plan/Quebec Pension Plan reform The Canada Pension Plan enhancements will be phased in from Jan. 1, 2019, and the Quebec […]
While total pension wealth rose for an eighth consecutive year in 2016, the wealth of employer-based pension plans increased at a much weaker pace than the previous year, according to Statistics Canada. Total pension wealth rose 3.8 per cent to $3.6 billion by the end of 2016, following a 5.1 per cent gain in 2015. The wealth of employer-based pension plans rose 3.5 per cent to […]
The Quebec government has announced a plan to expand the Quebec Pension Plan in line with reforms to the Canada Pension Plan. As part of the changes, the government will establish an additional component to the QPP, similar to the planned reforms to the CPP. There will be the basic plan, which has been in effect […]
While today marks the one-year anniversary of Ottawa reaching an agreement with most of the provinces to expand the Canada Pension Plan, the future of the Quebec Pension Plan remains up in the air. While the enhanced CPP will take effect in 2019, there’s still uncertainty around what Quebec will do with the QPP. The […]
While reforms to the Canada Pension Plan are well underway, the debate on what to do with the Quebec Pension Plan is just getting started as the provincial government launches consultations on what the changes will look like in that province. While one of the options the province is considering is to change the QPP […]
Though Canada’s retirement income system was ranked eighth among 27 countries by the 2016 Melbourne Mercer Global Index, it also revealed the weaknesses in our retirement system. These weaknesses include that: three in four private sector workers don’t have access to an employer-sponsored pension plan; the level of household savings for middle-income earners is insufficient; […]
While the Association of Canadian Pension Management is in favour of enhancing the Quebec Pension Plan, it’s calling for a targeted solution to the problem of inadequate retirement income in the province. In a submission to the public consultation on QPP reform, Bryan Hocking, the association’s chief executive officer, noted that any changes to Quebec’s retirement […]