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Monday, June 20, 2016

Outing the right wing lies

NEWS ALERT: Fraser Institute denies existence of widely acknowledged pension problems

Oh hey, guess what?
The Fraser Institute doesn't want to improve the Canada Pension Plan.
And as a matter of fact, despite a wide expert consensus that says there's a serious problem, the Fraser Institute claims Canada isn't facing a looming retirement savings crisis either.
That's what the right-wing think tank argues in their latest report that points out "five myths" about the CPP by introducing a series of misleading and confusing arguments that cloud up discussions about your retirement savings.
Here's a quick look at five things Fraser Institute gets wrong:

1. Denying the existence of a problem

Studies by many academics, a former top Statistics Canada statisticianlabour unionsCIBC, theBroadbent Institute and even the right-leaning CD Howe Institute have all come to the same conclusion: yes, Canada is facing a looming problem with retirement saving.
Yet the Fraser Institute claims it is a "myth" that Canadians aren't "saving enough for retirement."
Their evidence? They point out Canadians, in general, hold trillions of dollars in real estate, stocks and bonds, even though that isn't "retirement income," per se.

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