When Will the Baby Boomers Retire?

Canada’s population, we are frequently told, is rapidly aging. The big baby boomer cohort is headed out of the workforce, meaning  that we face a future of very slow labour force growth and even possible shortages of workers. CIBC Economics has just gone so far as to argue that the…
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The Financial Wealth of Canada’s Top 1%

Following up on my post on wealth and income of the top 1%, Eric Pineault wrote to add some data on financial wealth distribution for Canada. He had a research assistant comb through microdata from Statcan’s Survey of Financial Security from 2005, and notes: “the 1% richest (all households are classed according to…
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About those “unfunded liabilities”

When it comes to the Canada Pension Plan, a major talking point from the right is that the CPP has “unfunded liabilities”, with the implication that is not affordable and financially unsustainable. This is nonsense, a scare tactic based on an accounting fiction that counts only future expenditures but does…
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The Cost of Doubling CPP

Barrie McKenna’s appraisal of party positions in the Globe today wrongly assumes that the NDP proposal to double CPP benefits would require a doubling of CPP premiums. The current combined employee/employer premium rate of just under 10% of covered earnings was set a few years back to make up for…
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