Will C-36 Undermine CPP “9.9”? Benefit Enhancement and the Sustainability of the Canada Pension Plan
The Canada Pension Plan, like all pension plans and social-security programs, is under constant tension. On one side are current and hopeful beneficiaries, who typically want richer payouts. On the other are younger actual or potential contributors, who typically want lower or at least sustainable contribution rates. The CPP’s history reflects this tension: the repeated benefit enrichment, rising costs and growing unfunded liabilities that marked the 1970s and 1980s preceded reforms in the 1990s that trimmed benefits, ramped up contributions, and aimed to pre-fund enough of the program to hold its contribution rate at 9.9 percent.
|Date of creation:||Mar 2007|
|Publication status:||Published on C.D. Howe website, March 2007|
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