The Pension Debate?
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Terence Corcoran of the National Post reports on the pension debate:
In Whitehorse today, Canada’s finance ministers meet to discuss the future of Canada’s pension system. No agreements are expected on how to enhance Canadians’ retirement savings. A pension summit is expected to take place later this year.
Today, FP Comment launches the first in a series on The Pension Debate. Is Canada’s pension system a shambles, as some argue? Are Canadians ill prepared to meet their financial futures post-retirement? Is the private defined-benefit system permanently impaired? Are mutual funds and other savings vehicles, including RRSPs, up to the job of protecting Canadians?
Do we need a new, government-backed secondary pension regime to accompany the Canadian Pension Plan and associated government retirement relief?
The Canadian pension management industry, in today’s first commentary, argues against new government intervention and in favour of reforms to enhance the role of the private sector. Our second commentary, from the C.D. Howe Institute, raises another volatile issue: the high cost of federal pension plans for government employees.
Tomorrow: How bad is our pension system?