Madam Speaker, my colleague missed the point. The CPP is one of the tools in the toolbox to help individual Canadians retire. Forcing people to invest more in it, limits their capability of choice of other tools. It also puts a huge burden on small business at a time when small businesses do not need it, at a time when the Liberal government actually reneged on its promise and did not reduce taxes to small business.
Let me share a quote:
Overall, Canada's retirement income system is performing well. Canadian retirees achieve relatively high levels of income in retirement, and compare well to retirees in other Organization for Economic Co-operation and Development countries. With support from all three pillars of the retirement income system, the median Canadian senior earns about 91 per cent as much as the median Canadian – well above the Organization for Economic Co-operation and Development average of 84 per cent.
Who said that? Finance Canada.