One of the leading business advocacy organizations in Canada is praising the recent move by government officials to back away from raising the Canada Pension Plan benefits and premiums.
The Canadian Federation of Independent Business released a statement ahead of an Alberta meeting of finance ministers, which stated that it supports the move toward other means of securing retirement security for workers without forcing businesses to pay higher premium costs.
Catherine Swift, the CFIB president, said that there were better alternatives to increasing CPP premiums.
"Small businesses will be pleased to learn that finance ministers are concentrating on practical steps to improve retirement income vehicles for employees and employers, rather than approving an increase in mandatory CPP premiums," said CFIB president Catherine Swift. "The framework for Pooled Retirement Pension Plans (PRPPs) has significant potential to improve the mix of retirement savings options for smaller firms and self-employed entrepreneurs."
Swift was in the news recently, praising other moves of by local Canadian governments. Swift said that Manitoba's move to remove business taxes was "terrific news."
