Refinancing the CCP: The Cost of Acquiescence

Bruce Kennedy

Canadian Public Policy, 1989, vol. 15, issue 1, 34-42

Abstract: This article scrutinizes the relationship between the CPP and the provinces under the new CPP financial arrangements. It briefly recalls the genesis of the CPP and that of its close relative, the Quebec Pension Plan. The financial arrangements in effect from 1966 through 1986 are then reviewed along with some of the options for reform that were explored by the Department of Insurance. These are contrasted with the new financial arrangements put into effect in January 1987. The conclusion drawn from comparison of these arrangements is that the CPP is and will continue to be a program intended to serve two quite distinct purposes: paying pensions and raising revenue for provincial governments. Specifically, the effective transfer from the CPP to the provinces is estimated to be about $1.2 billion per year.

Date: 1989
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