Thanks for this link and the previous post, Arun. It was one that I was going to draw out in a subsequent post but you have done my work for me.
I did not know about the UK experience. I think the “free rider” argument – that the principal users are the ones who would have saved anyway – is important. Interestingly, the same argument comes up in the area of climate change – subsidies for retrofits for energy efficiency mostly go to those who would have made the investment anyway.
Before we criticize too much about this plan , let’s remember that RSPs and RRSPs are largely useless to lower and modest income Canadians when they retire due to the loss of pension supplement and other seniors benefits . This plan is a way around that loss for when we reach age 65 .
I personally am not advocating for a means test so as to exclude the more wealthly among us . There are by far more of the un-whealthy of us that can benefit .
Thanks for this link and the previous post, Arun. It was one that I was going to draw out in a subsequent post but you have done my work for me.
I did not know about the UK experience. I think the “free rider” argument – that the principal users are the ones who would have saved anyway – is important. Interestingly, the same argument comes up in the area of climate change – subsidies for retrofits for energy efficiency mostly go to those who would have made the investment anyway.
Before we criticize too much about this plan , let’s remember that RSPs and RRSPs are largely useless to lower and modest income Canadians when they retire due to the loss of pension supplement and other seniors benefits . This plan is a way around that loss for when we reach age 65 .
I personally am not advocating for a means test so as to exclude the more wealthly among us . There are by far more of the un-whealthy of us that can benefit .