 Public Pensions in CanadaIndependence and Economic Security of the Older Population Research Papers from McMaster University Abstract: Intergenerational transfers occur within every society. Those who are able to provide for more than their own needs directly or indirectly provide resources to those who are unable to care for themselves. Each society must somehow choose from the set of all possible transfers a particular allocation that is most appealing given its procedures for making collective choices. Over the last two decades real transfers to elderly households have increased while real earnings for both men and women of working age have stagnated. A significant component of these transfers has been financed by increasing tax rates and by issuing debt. Neither of these options is sustainable indefinitely. Among other things, this paper argues on intergenerational equity grounds that the solution to the "CPP problem" lies not in raising payroll tax rates but rather in reducing benefits. Keywords: public pensions; intergenerational equity; CPP (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:mcm:iesopp:1 Access Statistics for this paper More papers in Independence and Economic Security of the Older Population Research Papers from McMaster University Contact information at EDIRC. |
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