CPP seen to be insufficient, ORPP needed

| Filed under: Ontario

CPP seen to be insufficient, ORPP needed

Most think ORPP needed even if CPP expanded

TORONTO November 5th, 2015 - In a random sampling of public opinion taken by the Forum Poll™ among 1158 Ontario voters, the majority agree that the Canada Pension Plan, or CPP, in replacing about 25% of pre-retirement income, is insufficient (52%), while just one quarter think it’s about right (27%) and very few think it too much (5%). Belief CPP is too little is common to the least wealthy (less than $20K - 64%), in Northern Ontario (65%), among New Democrats (61%) and Greens (60%).

Plurality approves of ORPP to supplement CPP

Close to one half of voters approve of the newly created Ontario Retirement Pension Plan, or ORPP when it is explained it is intended to supplement CPP (44%), while about one third disapprove (34%) and more than a quarter don’t know (27%). Approval of the ORPP is common to younger voters (35 to 44 - 49%), the least wealthy (less than $20K - 52%, $20K to $40K - 59%), in the Toronto 416 area code (49%), among Liberals, of course (64%) and New Democrats (53%) but not PCs (21%). It is also common to mothers (53%) and the best educated (post grad 52%).

Plurality thinks ORPP will be needed even if CPP expanded

Roughly 3-in-10 (29%) see no need for pension expansion, either at the federal level with CPP (3%) or at the provincial level with ORPP (26%). The largest group of voters, just less than a third, believes ORPP will be necessary even if, as the new Prime Minister has promised, CPP is enhanced (31%). About half this proportion believe ORPP is only a stopgap measure until the federal government enhances CPP (17%). The oldest are most likely to think ORPP is only a stop gap (21%), while the young mid aged are especially likely to see the need for both CPP expansion and ORPP (36%).

 Canadians think a lot about our pensions, especially as about 70% of us don’t have one, other than CPP. The ORPP has tested relatively well in the past, and still does, even though it appears that the new government’s intention to expand the federal pension plan might make it unnecessary," said Forum Research President, Dr. Lorne Bozinoff.

Lorne Bozinoff, Ph.D. is the president and founder of Forum Research. He can be reached at lbozinoff@forumresearch.com or at (416) 960-9603.