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Poll

We need your opinion

Are there plans to change the type of pension/retirement savings plan you offer/is offered by your employer in the next 12 months?  

Result
Phased Retirement

Issue

Based on our aging workforce, it is asserted from time to time that pension plans need greater flexibility to allow employees to work longer. One way to do this is to encourage a “phased” approach to retirement. A number of provinces have recognized this through changes to their provincial pension acts.

Action to Date

The ACPM has recognized the need for better voluntary phased retirement provisions in various documents, including its retirement income papers, its response to the Model Pension Law, a February 2002 letter to the federal Department of Finance, and pre-budget submissions (2004 and 2005). Most recently, ACPM commented on the Legislative Proposals released in October 2, 2007 designed to implement tax measures proposed in Budget 2007. The comments relate only to the measures allowing phased retirement options under registered pension plans. The ACPM believes greater flexibility would be beneficial.