Ottawa should move on pensions in budget: think-tank

The Canadian Press ~ The News
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OTTAWA - A new report says Ottawa needs to break the "deadlock" in reforming the pension system by making changes in the March 4 budget.
William Robson at the C.D. Howe Institute says the debate over how to encourage Canadians to save more for retirement is bogged down in particulars about preserving defined-benefit plans.
Instead, he said, Ottawa should start with easier moves that would get the ball rolling toward deeper reform later.
He suggests allowing more contribution room in registered retirement savings plans or RRSPs, and harmonizing rules for Retirement Income Funds, Life Income Funds and annuities from pension plans.
He also wants to see Ottawa get rid of tax disadvantages for group RRSPs.
Robson said the proposals are low-cost, easy to do, and not very controversial - although critics say they amount to mere tinkering.

Organizations: C.D. Howe Institute

Geographic location: Ottawa

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