There has been a lot of discussion in the press lately about expanding CPP, as well as discussion in other RFD threads on this topic. As a lot of you are probably aware, several provinces and large Unions are pushing for and expanded CPP, but the federal government has turned them down. In response to this, the Ontario government has said they will introduce an "Ontario Pension Plan" (I don't think they would use the acronym "OPP" because it is already being used by the provincial police force - they would need to invent another name for it).
The following article came out in the National Post about this topic yesterday:
http://opinion.financialpost.com/201...nsion-options/
I am personally against expanding CPP and/or an Ontario pension plan (I live in Ontario so would affect me), but putting aside my feelings on this, I am curious as to whether it would feasible for a province to operate a pension plan alone. Having read this article, I don't think it will happen because there are a lot of practical difficulties in implementing it. One issue that had not occurred to me that the author pointed out is how the pension would be integrated with our income tax system.
My gut feel is that there will be an expanded CPP in Canada, but will happen sometime in the intermediate future - say 5 or 10 years from now?
Anyway, would be interested to hear other thoughts about this.
The following article came out in the National Post about this topic yesterday:
http://opinion.financialpost.com/201...nsion-options/
I am personally against expanding CPP and/or an Ontario pension plan (I live in Ontario so would affect me), but putting aside my feelings on this, I am curious as to whether it would feasible for a province to operate a pension plan alone. Having read this article, I don't think it will happen because there are a lot of practical difficulties in implementing it. One issue that had not occurred to me that the author pointed out is how the pension would be integrated with our income tax system.
My gut feel is that there will be an expanded CPP in Canada, but will happen sometime in the intermediate future - say 5 or 10 years from now?
Anyway, would be interested to hear other thoughts about this.