The Legault administration is unlikely, at least for now, to move forward with moving the minimum age of eligibility for the Quebec Pension Plan (QPP) from 60 to 62, a proposal that is proving too unpopular.
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According to information from our parliamentary office, Finance Minister Eric Girard will instead be content to keep his promise made during the election campaign, namely to make the contribution to the QPP optional after the age of 65.
This measure alone should use up about half of the planning scope according to the last actuarial report.
“We listened, we heard […] we keep thinking. Congratulations to Quebecers for this excellent debate,” Minister Girard said in the Blue Room on Wednesday.
Mr Girard gives a more detailed account of his findings after Thursday’s Question Time. “We will make our decisions known to the household,” he summarized at the end of his presentation.
An unpopular report
However, our parliamentary office was able to confirm that the finance minister has essentially decided to follow the recommendations of the parliamentary committee that has been deliberating on the QPP actuaries’ reform proposal for the last few weeks.
The plan administrators’ main proposal was to shift the minimum age at which QPP benefits can be claimed from 60 to 62, under penalty of a lifetime penalty.
Throughout the deliberations, the minister reiterated that it is in the interest of Quebecers to delay the date from which they start receiving their pension, to avoid penalties and protect their financial security.
In its report, the Commission “notes that several groups have spoken out against moving the minimum eligibility age”.
With the exception of a few actuaries, almost all groups represented in the National Assembly, including trade unions, experts and even the Conseil du patronat, have expressed concern about those who do arduous physical work and choose to draw their pension at age 60 .
Consultations had not yet started and the three opposition parties had already spoken out against moving the minimum age for participation.
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