Accounting for non-pension assets in projections of future retirement income makes a difference.
This sea change in labour-force behaviour of older workers was completely unanticipated by research into pension adequacy.
A higher CPP benefit could trigger a reduction in federal (and provincial) government benefits targeted at low-income seniors.
Finance Minister Bill Morneau will soon meet with his provincial counterparts to discuss CPP expansion, which could include increased mandatory contributions.
For working Canadians, contributions to the Canada Pension Plan (CPP) are a regular bill observed on their paycheques.
The Fraser Institute has been at the fore of publishing work related to pension issues and correcting misconceptions to provide Canadians with better information.