The Quebec Budget and Pensions: A Disappointment
The Quebec Provincial Budget for 2011/2012 includes a section entitled “A Stronger Retirement Income System – Meeting the Expectations of Quebecers of Every Generation”. The content of the Liberal Government’s proposals doesn’t live up to the title. Employee and employer contributions to the Quebec Pension Plan (QPP) will be increased over a 6 year period to a rate of 10.8% of covered earnings (5.4% from each side, compared to the