The federal deficit this year will reach an estimated $184.2 billion.
guaranteed income supplement
The auditor general noted there were 3.8 million more social insurance numbers for Canadians 20 years and older than actual people in that age group.
The Trudeau government’s policy reversal will cost an estimated additional $10.4 billion in 2030.
Health-care costs are expected to increase by 57 per cent by 2045.
In 2014, these non-pension assets totalled $9.5 trillion, dwarfing the $3.3 trillion assets in the formal pension system.
A two dollar increase in CPP income could result in a one dollar reduction in GIS benefits.
This sea change in labour-force behaviour of older workers was completely unanticipated by research into pension adequacy.
Finance Minister Bill Morneau will soon meet with his provincial counterparts to discuss CPP expansion, which could include increased mandatory contributions.