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This article was published 25/3/2010 (2593 days ago), so information in it may no longer be current.
Manitoba Finance Minister Rosann Wowchuk said Thursday the province wants public input regarding how to beef up Canada’s retirement pension system.
Research commissioned for the finance ministers’ review of pension coverage and retirement income adequacy indicates many workers who don’t have access to employer-sponsored pension plans or who don’t have sufficient personal savings will not have adequate retirement income in the future, the province said in a release.
Wowchuk said the public can share ideas by email or mail.
Information on pension reform is available on the Finance department website or by calling 202-945-3757.
Under consideration is:
- Expansion of the existing Canada Pension Plan;
- Creation of a voluntary, defined-contribution supplement to the CPP;
- Modernization of pension standards to improve flexibility in pension plan design;-
- Tax reform; changes to the Income Tax Act (Canada); and
- A blend of measures, such as combining some or all of the above.
Wowchuk said the paper results of the public consultation will help in discussions at the next federal, provincial and territorial finance ministers' meeting in May.
All responses must be submitted to the provincial government by April 30. Mail submissions can be delivered to Minister of Finance, c/o Intergovernmental Finance Branch, Fiscal Research Division, Manitoba Finance, 910 – 386 Broadway, Winnipeg MB R3C 3R6.