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Finance ministers from across Canada are debating whether or not to expand the Canada Pension Plan (CPP). An overwhelming majority of the Canadian public support CPP expansion, as does an ever-growing body of seniors groups, pension experts, academics and even financial industry leaders.
The Canadian Labour Congress (CLC) plan would gradually phase in a doubling of CPP benefits, which currently provide retirees with a maximum of about $1,000 per month (though the average retiree receives just over $500 per month). The CLC plan would see these amounts double.