Fay Now Or Pay Later: Pensions reform presents a dilemma with serious political and social ramifications

摘要

The Ontario government has been talking about pension reform since well before Kathleen Wynne became premier. The reform the Liberal Party of Ontario would like to see is a significant increase in Canada Pension Plan (CPP) premiums and payouts. The government's goal is to double the CPP payout over time. Wynne's argument is that using CPP is a good way to have taxpayers invest in their own futures by saving now. It is no secret that projections show that the baby boomers will have a profound saving shortfall when they retire.