Nov 15, 2013
By AM740 Staff
Premier Kathleen Wynne continues to lobby for an increase in the Canada Pension Plan. Wynne repeated her call for CPP enhancement as Canada’s provincial and territorial premiers meet here in Toronto today. Wynne says there are a number of tools that can be used including Pooled Registered Pension Plans or PRPP’s.
Wynne is on record saying people aren’t saving enough for retirement and that Ontario is prepared to set up its own retirement income plan if it can’t convince Ottawa and the other provinces to enhance the C-P-P. Earlier today the Royal Bank of Canada’s 2013 Retirement Myths and Realities Poll was releassed. The annual poll, of Canadians aged 50 plus, revealed that 20 per cent of retirees had as little as one month or no advance notice before retirement, with a majority reporting they had a year or less of notification.