Experts: More Talk Needed On Raising Retirement Age In Canada
Ottawa, Ontario, Canada (AHN) – A report by the Mowat Center for Policy Innovation recommends that more discussions be held on the proposed raising of the retirement age in Canada. Similar laws have been passed or are pending in other Western countries grappling with a graying population and shrinking work force.
Finance Minister Jim Flaherty had thumbed down the idea of hiking the retirement age to 70 from 65, but is in favor of higher Canada Pension Plan contributions among the employed.
However, Mowat political scientists Martin Hering and Thomas Klassen say in the report that both proposals are unpopular and suggested that the Canadian public pick between the two options.
Pension experts agreed that Canadians should first debate on the issue.
Canadian labor laws do not specify a retirement age for workers, but government policies set age limits for employees in some occupations. Other than those in specific occupations, employers could not force workers to retire based on age, although the traditional age 65 retirement is observed by many Canadian companies and workers.
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