Seeking Certainty in Uncertain Times: A Review of Recent Government-Sponsored Studies on the Regulation of Canadian Pension Plans

The need for reform of the regulation and design of workplace pensions for Canadians sparked three major provincial reviews by Ontario, Alberta and British Columbia, and Nova Scotia between November 2008 and January 2009. While Canadians with incomes below half the average wage are generally well served by government plans (CPP/QPP), those with moderate and higher earnings depend on workplace plans and/or personal savings to avoid substantial drops in their living standards in retirement years. As the three provincial reports make clear, it is time to fix the problems of workplace pension plans.