It is a long-standing position of the ACPM that pension plan contribution and benefit limits are too low. The limits have been held down for many years, although recently there has been some upward movement.
The ACPM is on record as advocating a significant increase in limits. In our January 2000 paper, “A Retirement Income Strategy for Canada,” we advocated an immediate 20% increase. We have also advocated an increase during numerous meetings with federal officials and in our pre-budget submissions. In our 2004 pre-budget submission, the ACPM argued that the RRSP contribution limit should be raised to $27,000 and that the maximum pension limit should be increased accordingly.
The 2005 Federal Budget took a step in the right direction by providing contribution increases through to 2009/2010.
The ACPM will continue to advocate for an increase in the limits at every opportunity.