A small business leader in Alberta recently warned the government against raising the amount workers and their companies would have to pay for the Canadian Pension Plan, saying that it would negatively impact small business owners.
In a column for the Calgary Herald, Richard Truscott, the Alberta Director of Canadian Federation of Independent Business, said that government leaders need to be cautious when changing the CPP regulations and the jury was still out how much of an effect the change would have. Truscott wrote that while many rely on the CPP to support them when they stop working, there were other options at their disposal.
"CPP is really just one of a series of retirement savings vehicles currently available to all Canadians," Truscott wrote. "The list includes: voluntary savings plans (RRSPs and RESPs), tax-free savings accounts (TFSAs), as well as mandatory public plans such as CPP (QPP in Quebec), income-tested safety nets (Old Age Security and the Guaranteed Income Supplement), and the capital gains exemption."
Truscott made other headlines recently after chastising the Alberta provincial government over its spending. The St. Albert Gazette reports that the CFIB leader called on officials to "trim spending."
