Linked Header

Tuesday, November 29, 2011

Retirement Age Needs To Be Increased To Fight Pension Deficits

President and CEO of the Canadian Federation of Independent Business Catherine Swift says more steps need to be taken by our city and others who are struggling with huge pension deficits.

She tells CHSJ News retirement ages need to be increased in the public sector because people are living longer and pensions were not built to be paid out 30 years after retirement.
She says another big step is to move away from defined benefit plans and switch to combination plans that do not punish the retiree excessively.