OTTAWA FLOATS NEW PENSION PLAN

Apr 24, 2014

By Bob Komsic

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The Harper government is opening up a 60-day online consultation on its proposed new pension plan.

Minister of State for Finance Kevin Sorenson told the Economic Club of Canada during a lunch hour speech, that the plan would be an alternative to defined-benefit and defined-contribution plans.

He says the voluntary target-benefit plan for Crown corporations and federally regulated workers would provide predictable benefits in both favourable and adverse market conditions and interest rate environments.

Ontario, P-E-I and the Zoomer group CARP favour expanding the Canada Pension Plan – something Ottawa repeats it does not intend to do.

Susan Eng, vice-president of advocacy for CARP, a new vision of aging, says the organization plans to comment on the proposal, but ”the difficulty with this government is that they have not given any indication that they listen to their consultations”.

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