Published On: Thursday, 08 September 2016
New Poll Shows Canadians Misinformed on CPP Expansion
CANADA - A new Ipsos poll reveals that most Canadians don’t know how the Canada Pension Plan (CPP) works or what CPP expansion will mean. When presented with some of the probable effects on wages as a result of the expansion, 70% of employed Canadians said they would oppose the hike. In light of this latest information, the Canadian Federation of Independent Business (CFIB) calls for the expansion deal to be put on hold until full education and consultation can take place.
“It’s stunning that governments are racing forward on a policy change of this magnitude when most Canadians are completely unaware of how it affects them,” said CFIB president Dan Kelly. “The results show that governments have been anything but clear about the reality of this proposal and that public support for the deal vanishes when people are presented with the likely impacts.”
- Almost 40 per cent of Canadians think the government pays for part of CPP (only one in four know it’s not true).
- Only a quarter of Canadians know it will take about 40 years before the full increase in benefits is available.
- More than 70 per cent of Canadians don’t realize that current retirees get nothing from CPP expansion.
- Over 25 per cent of those already retired believe they will see bigger CPP cheques as a result of the deal.
The poll found 70 per cent of working Canadians oppose CPP expansion if it means their wages will be frozen during the phase-in period. That jumps to more than 80 per cent if it means wage cuts. Both outcomes are likely, according to previous CFIB surveys of small business owners.
Consultation and education required
“This should be a wake-up call,” added Kelly. “Canadians are telling their governments that they have a lot more work to do before moving forward with any kind of CPP expansion. Education, consultation, and only then, action. At this point, it would be irresponsible to proceed otherwise.”
Full poll results are available at the following link.