Economy

Economic Commentary

Economic Calendar

Global Economies

Global Economic Calendar

Voluntary CPP Plan Found Little Support During Campaign

Canadians overwhelmingly rejected the Harper government's surprise proposal last year to let workers make voluntary contributions to the Canada Pension Plan, according to newly disclosed documents

Joe Oliver, then finance minister, made the abrupt policy reversal on May 26 in the House of Commons, promising consultations with experts and stakeholders.

Finance Canada patched together an online consultation process beginning July 13, asking eight questions and inviting Canadians to respond using a departmental email address by Sept. 10.

The Conservatives had firmly rejected a voluntary CPP scheme as far back as 2010. But faced with an October federal election, and with two opposition parties promising CPP benefit increases, the about-face added a pension plank to the Tory platform.

Only 47 stakeholders and individuals sent in responses to the online consultation, with 26 against any voluntary CPP scheme, 17 in favour and four offering no opinion.

Among the 25 submissions from stakeholders, none of whom are identified, there was overwhelming opposition to Oliver's idea. In all, 17 were opposed, six were in favour and two did not say.

The 22 individuals who answered the consultation were slightly in favour, with 11 supporting Oliver's proposal, nine opposed and two offering no opinion.

The Trudeau government has promised to work with the provinces to beef up the Canada Pension Plan, but a key finance ministers meeting in December failed to reach consensus, ending only with a promise of more study. Ottawa needs the agreement of seven provinces, including Quebec, representing two-thirds of the country's population, to reform the CPP.