OTTAWA — A mandatory review of the country’s largest seniors benefit program is predicting all-time highs in spending over the coming years with waves of baby boomer retirements — spending levels that could have been even higher if not for changes to the public pension program.
The report is the first glimpse into how the CPP expansion, phased in over the next 40 years, will affect old age security.
The country’s chief actuary writes in his report that program spending is projected to hit about $247 billion by 2060, an almost five-fold increase from planned spending this year, as more Canadians […]
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