The federal government reached an agreement to boost the Canada Pension Plan with most of the provinces in agreement. Only Quebec and Manitoba did not endorse the plan.

This means that younger Canadians will have greater financial security when they approach retirement, but current workers and employers will need to make bigger contributions. Premiums will gradually increase over a 7-year period beginning in 2019, with maximum benefits increasing by one-third.

In this episode we discuss the implications of this new change to the Canada Pension Plan are Wade Poziomka, Director, Policy & Litigation for CARP, Alexandre Laurin – Director of Research for C.D. Howe Institute and Allan O’Dette – President and CEO of the Ontario Chamber of Commerce.