CFIB continues to push for voluntary retirement options for Canadians
For more details
Retirement Income in Canada
SMEs’ perspectives on retirement income and PRPPs
CFIB Letter
Pooled Registered Pension Plan (PRPP)
Follow up letter from CFIB
Tax Rules for Pooled Registered Pension Plans (PRPPs)
CFIB Letter
Legislative Proposals Relating to Pooled Registered Pension Plans – Income Tax Act
We continue to urge the government to restore fairness for all Canadians on pension inequities with our recent letter to the federal, provincial and territorial finance ministers, which highlights our support for a proposed Pooled Registered Pension Plan (PRPP). We believe that if properly designed, the PRPP will be a better and more effective option than mandatory CPP expansion by allowing more employers, employees, and the self-employed to participate in a retirement savings plan.
The letter also urges government to take mandatory registration and auto-enrolment options off the table, as they are costly and increase the regulatory burden on SMEs.
At consultation sessions with both federal and provincial officials earlier this year, we have discussed both the advantages and challenges of the PRPP to small and medium-sized business owners. Drawing from the results of an earlier member survey on retirement savings, our policy brief, "Retirement Income in Canada", highlights the challenges entrepreneurs face when it comes to retirement and offers their views on how the current framework should be altered. It also elaborates in more detail on the PRPP design by identifying the features that need improvement.
