On July 13, the federal government opened a public consultation on options for a voluntary supplement to the CPP. While a number of recent studies have concluded that most working-age Canadians are on track to maintain their standard of living in retirement, the government said it is committed to exploring ways to give Canadians more choice in how they save.
Given the number of savings options already available in Canada, it is not clear that a voluntary CPP supplement is needed.
It may not even make sense. Voluntary supplemental pension plans generally involve contributions to individual accounts, … Continue reading