A group of leading experts on pension reform in Canada is urging Canada’s finance ministers  to commit to expanding the Canada Pension Plan as the best means available to provide retirement security for Canadians.

“We must send a strong message to Canada’s finance ministers and the Harper government that the time to make important changes to the CPP is now,” said George Doubt, Telecommunications Workers Union National President.

The six pension experts who have signed the letter  are:  Bob Baldwin, Bernard Dussault, Keith Horner, Jonathan Rhys Kesselman, Monica Townson and Michael Wolfson.  Bernard Dussault is the former chief actuary of the Canada Pension Plan.  Bob Baldwin was an expert adviser for the Ontario Expert Commission on Pensions.  Keith Horner is a pensions consultant and a federal former Finance Department official.  Jonathan Rhys Kesselman holds the Canada Research Chair in Public Finance at Simon Fraser University.  Monica Townson is an economic consultant working in the field of social policy and served on the Pension Commission of Ontario.  Michael Wolfson is the Canada Research Chair in Population Health Modelling/Populomics at the University of Ottawa.

The six experts warn that, “A growing body of research indicates that many Canadians likely have inadequate savings to maintain standards of living in retirement.”  They say that “prompt action is warranted” and add that “it is important that improvements be agreed to on a timely basis, as an extended phase-in period will be required.”

1. http://www.twu-stt.ca/en/tea-talk-sunday-retirement-security-canada-pension-plan
2. http://www.twu-stt.ca/sites/default/files/20111214E.pdf