Canada Pension Plan is of growing importance
The viability of the Canada Pension Plan shows how reforms adopted in 1997 are paying off in a big way today—the Canada Pension Plan is not only financially sound, but is also operating so that each generation now pays for its own pensions. This was not the situation in the mid-1990s. The outlook then was much different.
People, pictured Sept. 3, 2019, in downtown Ottawa. While public-sector workers are well-protected—90.2 per cent have a registered pension plan—only 24.1 per cent of the much larger workforce in the private sector have a plan, according to the latest data from Statistics Canada.
The Hill Times photograph by Andrew Meade