The Portfolio Management Association of Canada (“PMAC”), through its Industry, Regulation & Tax Committee, is pleased to have the opportunity to participate in the consultation process regarding the Government’s review of options for a voluntary supplement to the Canada Pension Plan (CPP) (the “Consultation”) which was announced on May 25, 2015 by the Minister of Finance.
PMAC commends the Federal government for making Canadian’s retirement savings a top priority but we believe a voluntary CPP contribution program is neither necessary nor desirable. Set out below are five specific recommendations for your consideration which we believe will ultimately achieve the same policy objectives and goals.