Canada Pension Plan Changes Start This Year

The CPP was designed in the early to mid 60’s. Fifty years later, Canadians are healthier, better educated and living longer. In particular, Canadians are working later in life and deferring retirement. As well, the retirement experience is changing from a single event, usually at 65, to a process that can extend over many years. The critical demographic development is the “age wave” of the boomers moving past their 65th birthdays. This wave starts to build in 2011 and will not crest until 20 years from now. It is important to address any imbalances and inequities in the design of the CPP sooner rather than later.