The Quest for Sustainability in Contingent Pension Plans
Pension policymakers need to play catch-up in Canada’s changing pension landscape, says a new report from C.D. Howe Institute. In “The Quest for Sustainability in Contingent Pension Plans,” authors Barry Gros and Barbara Sanders explore the policy implications of Canada’s shift away from traditional defined-benefit pension plans towards contingent pension plans in which benefits for […] Bob Baldwin – The Pension Reform Toolbox
From: Bob Baldwin To: Canada’s pension regulators Date: July 23, 2019 Re: The Pension Reform Toolbox In a paper that recommended an array of policy choices to help make Canada’s retirement income system more adaptable, I assessed the analytical capacity and data that are necessary tools for good public policymaking in this area. There have been a number of […]William B.P. Robson – Seniors Consumer Price Index Follies
From: William B. P. Robson To: Filomena Tassi, federal Minister of Seniors Date: June 27, 2019 Re: Seniors Consumer Price Index Follies Your government’s 2015 election platform had a problematic plank. It promised to calculate a Seniors Price Index more reflective of things seniors consume than the current Consumer Price Index (CPI). It further promised […] A new paradigm for pension plans – Globe and Mail Op-Ed
The single-employer pension plan model is dying. We do not need to mourn its demise, but we do need to replace it.
In a recent report published by the C.D. Howe Institute, we promote the implementation of new private-sector pension plans in Canada based on a better governance model. Rather than being sponsored by single employers, the new plans would be sponsored by multiple employers and governed by independent management boards that include representation from all stakeholders. Scale is of the essence. These new plans could be either of a target-benefit pension plan variety (TBPP) or of a collective defined-contribution pension plan type (CDCP).
The names sound complicated, but the essential elements aren’t.
A…
Robert Brown, Stephen A. Eadie – Common Ground in the Pension Debate
From: Robert Brown and Stephen A. Eadie To: The Canadian pension industry Date: June 13, 2019 Re: Common Ground in the Pension Debate With traditional pension models largely falling short of their goals, the time is right for a new pension paradigm that better serves the needs of all Canadian workers. It is time for the pension industry […]The Great Pension Debate: Finding Common Ground
With traditional pension models largely falling short of their goals, the time is right for a new pension paradigm that better serves the needs of Canadians working in the private sector, says a new report from the C.D. Howe Institute. In “The Great Pension Debate: Finding Common Ground,” actuaries and pension experts Robert Brown and […] The Evolving Wealth of Canadians Approaching Retirement
Over the period from 1999 to 2016, the wealth (net worth and total assets) of Canadians approaching retirement who were in the middle of the wealth distribution grew quite strongly in constant dollars, according to a new working paper from the C.D. Howe Institute. In “The Evolving Wealth of Canadians Approaching Retirement,” author Bob Baldwin […] Alexandre Laurin – The Good, the Bad and the Bottom Line
To: The Hon. Bill Morneau, Minister of Finance From: Alexandre Laurin Date: March 25, 2019 Re: Federal Budget 2019: The Good, the Bad and the Bottom Line Even though Budget 2019 contains no sizeable flagship initiative, its orientation is clear: to appeal to as many as possible by multiplying targeted measures aimed mostly at seniors and millennials, while continuing […] Don Ezra – Some welcome steps towards longevity insurance
To: The Hon. Bill Morneau, Minister of Finance From: Don Ezra Date: March 21, 2019 Re: Some welcome steps towards longevity insurance Thank you. It’s not perfect, but it’s a start in a good direction. Your proposed rules that would permit longevity insurance, known technically as “advanced life deferred annuities” were a welcome piece of this week’s budget. These […] Robson, Laurin – Tax Relief for the 2019 Federal Budget
To: The Honourable Bill Morneau, Minister of Finance From: William B.P. Robson and Alexandre Laurin Date: February 11, 2019 Re: Tax Relief for the 2019 Federal Budget The C.D. Howe Institute’s Shadow Federal Budget for 2019 last week aims to enhance Canada’s competitiveness and dynamism, while setting the stage for a return to surpluses during the next Parliament. Today we examine […] Hold The Panic: Maybe Canadians Aren’t Facing A Debt Insolvency Crisis After All – Financial Post Op-ed
For much of the last decade, Canadians have been told their debt levels were unsustainable and that their day of reckoning was fast approaching. Data recently released by the Office of the Superintendent of Bankruptcy (OSB) seem to indicate that day has arrived. According to the data, insolvencies by Canadian consumers were up 9.2 per cent in October 2018, compared to a year earlier.
To say the least, these results appear alarming. But in light of what we know about homeownership and net worth, we are not so sure. The data show that Canadians’ net worth has never been higher. Moreover, the data do not distinguish between the more harmful economic effects from households in negative net asset positions, or balance sheet…
Less Debt, More Growth: A Shadow Federal Budget for 2019
February 7 – Ottawa should spur growth through better tax competitiveness and get back into the black by curbing overspending, says the C.D. Howe Institute’s annual Shadow Federal Budget. In “Less Debt, More Growth: A Shadow Federal Budget for 2019”, authors William B.P. Robson and Alexandre Laurin show Ottawa could balance its budget in 2023/24 […]