New CPP proposal aims to fund middle class retirements
PEI Finance Minister Wes Sheridan wants CPP replacement rates tweaked to better target middle-class Canadians facing retirement shortfalls.
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PEI Finance Minister Wes Sheridan wants CPP replacement rates tweaked to better target middle-class Canadians facing retirement shortfalls.
However attractive defined-benefit pension plans are for employees, many employers just don't want to bear the burden any longer.
The difference between taking CPP at age 60 vs. age 70 could be 78%.
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The good news is that pensioners are living longer. The bad news is that this comes at a price...