Mr. Speaker, the late Jim Flaherty said “the Canada Pension Plan plays a central role in our government-supported retirement system”, and should be “enhanced”.
The current Minister of Finance has confirmed that CPP premiums are not payroll taxes. He says that the money always belongs to individual pensioners, and the CPP Investment Board gets impressive results.
Fragmented schemes in bits and pieces here and there do not cover most Canadians and they are not portable. Therefore, why not work with the provinces and a strong majority of Canadians to expand the CPP?