MPs open debate on motion calling for study on Canada’s retirement savings system

This week, Liberal MP Kirsty Duncan introduced a motion in the House of Commons calling for a national conversation on how Canada can offer better solutions for older Canadians who are facing severe financial challenges as they live longer into their retirements. Motion M-45 would ask the federal government to undertake a study examining population ageing, longevity, interest rates and registered retirement income funds.

"Research by the National Institute on Ageing at Ryerson University has found that 75 per cent of all care is being provided informally by close family members. The same institute also shows the cost of publicly funded long-term care for seniors is expected to more than triple in 30 years, rising from $22 billion to $71 billion," says Duncan.