SM Blog: » see older posts
- Wednesday January 18, 2012
-
The Rookie
Taking on a role in a field that you have no experience in can be a daunting task; you don’t want to disappoint your new employer and you need to step outside of your comfort zone. - » Read More
- Friday December 16, 2011
-
Photos of 135 Lombard
Our achitect Number 10 took photos of the interior of our new building. - » Read More
- Wednesday December 14, 2011
-
Happy Holidays & Welcome New Members of the Sigurdson McFadden Team
Sigurdson McFadden would like to thank our clients for their continued support and we extend extend warm wishes to you and your family for a joyous - » Read More
SM Benefits & Pensions:
CPP Increases Bad for Private Pensions
Posted by: Kevin McFadden
Given the current economic climate, it is unlikely that members of pension plans will see much increase in total pensions if the CPP is augmented. For affected employees who are not able to increase the total amount of income set aside for retirement, the higher employee contributions necessitated by an amended CPP will presumably come out of other current savings the employee is making. For employers who cannot afford the cost increase in their business, increased contributions to CPP may cause them to consider commensurate changes in their pension plans to carve out the additional CPP benefits from their plan, mitigating the cost impact. In short, the cost impact of extending CPP may come at the expense of other savings by employees and reduced levels of pension or other benefits provided by employers.