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I've heard only snippets of information about pension reform discussions and one idea is very intriguing.
The government already runs the CPP. Why not allow Canadians the option to take advantage of this management by contributing additional money, perhaps instead of to their own RRSP's.
Some of the thinking behind this is the recent economic crisis and the impact to retirement savings. Because many people just blindly invest (or blindly accept advice from those who range from industry professionals to well meaning friends to strangers on the internet
) they have seen their savings decimated at a time that they couldn't afford to fail.
I can only imagine the uproar that mutual fund companies, brokerage houses and banks would unleash if the government decided to offer Canadians an opportunity to divert at least some of their funds away from these profit-focused companies.
Certainly there will be many people who will not embrace the idea that the government could do something better than they could do on their own. The fact that they already control the CPP (and OAS) is enough. Plus, what's that phrase about putting all of your eggs in one basket?
Apparently, BC and AB were considering implementing provincially-based pension plans but they would definitely be interested in a nationally run plan with similar goals.
The government already runs the CPP. Why not allow Canadians the option to take advantage of this management by contributing additional money, perhaps instead of to their own RRSP's.
Some of the thinking behind this is the recent economic crisis and the impact to retirement savings. Because many people just blindly invest (or blindly accept advice from those who range from industry professionals to well meaning friends to strangers on the internet
I can only imagine the uproar that mutual fund companies, brokerage houses and banks would unleash if the government decided to offer Canadians an opportunity to divert at least some of their funds away from these profit-focused companies.
Certainly there will be many people who will not embrace the idea that the government could do something better than they could do on their own. The fact that they already control the CPP (and OAS) is enough. Plus, what's that phrase about putting all of your eggs in one basket?
Apparently, BC and AB were considering implementing provincially-based pension plans but they would definitely be interested in a nationally run plan with similar goals.