SM Blog: » see older posts
- Wednesday February 13, 2013
-
Siloam Serves Hope
The Sigurdson McFadden team, along with our friends at Sirius Benefits, spent a very meaningful 3 hours at the Siloam Mission last week. - » Read More
- Tuesday January 29, 2013
-
Kevin McFadden makes a guest appearance on Bowes Knows on CJOB
Kevin was asked to join Barbara Bowes on her weekly radio broadcast, on January 14, 2013, to talk about Benefits and Pensions. - » Read More
- Thursday January 24, 2013
-
ANNOUNCEMENT: Kevin McFadden named Chair of Health Sciences Centre Foundation
January 18, 2013, it was announced that Kevin was appointed by the Board to a two-year term as the Chair of the Board of Directors with the HSC Foundation! - » 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.