The life insurance industry group said it’s pleased that the Canada Pension Plan will be expanding, but favors a more targeted approach
The Canadian Life and Health Insurance Association doesn’t hate the news that the Canada Pension Plan will expand in several provinces – but it’s not exactly turning handsprings, either.
The association said that while it approves of the attempt to cover the gaps in the plan, it thinks a more targeted approach would be better.
“While we look forward to more details, we are pleased that the Federal and Provincial governments have committed to a modest increase in CPP,” said CLHIA President and CEO Frank Swedlove. “However, we continue to believe that any CPP enhancement should be targeted to those secotros of the population that need to increase their savings for retirement, and that they will be available to all Canadians no matter where they work or live.”
CLHIA members represent about 99% of Canada’s life and health insurance business, according to the Insurance and Investment Journal. It holds nearly $720 billion in assets in Canada, and is a member of a coalition of 15 organizations lobbying for a more direct approach to the issue of income security.
Related Links:
CPP expansion deal finally made
CPP revealed to be among lowest of developed countries
The association said that while it approves of the attempt to cover the gaps in the plan, it thinks a more targeted approach would be better.
“While we look forward to more details, we are pleased that the Federal and Provincial governments have committed to a modest increase in CPP,” said CLHIA President and CEO Frank Swedlove. “However, we continue to believe that any CPP enhancement should be targeted to those secotros of the population that need to increase their savings for retirement, and that they will be available to all Canadians no matter where they work or live.”
CLHIA members represent about 99% of Canada’s life and health insurance business, according to the Insurance and Investment Journal. It holds nearly $720 billion in assets in Canada, and is a member of a coalition of 15 organizations lobbying for a more direct approach to the issue of income security.
Related Links:
CPP expansion deal finally made
CPP revealed to be among lowest of developed countries
