Accounting for non-pension assets in projections of future retirement income makes a difference.
Ontario Premier Kathleen Wynne has reiterated her government’s commitment to push ahead with a provincial pension plan.
The Ontario government claims the ORPP is necessary because we aren’t saving enough for retirement, but a number of recent studies show there is no retirement savings crisis in Canada.
As the Ontario government moves ahead with plans for a new mandatory provincial pension program in January 2017, early signs suggest the program will be largely modelled after the Canada Pension Plan. Ontarians, however, would benefit from a broader debate that looks beyond their borders.