Mercer Canada

CPP Expansion Survey Results Summary

How are organizations reacting to the CPP expansion?

In the summer of 2016, Canada’s finance ministers agreed to a dual expansion of the CPP. Mercer conducted research to understand how organizations perceive the proposed CPP changes, and how they are reacting to the changes based on a survey of our clients.

HERE IS WHAT WE LEARNED:

1	UNCERTAINTY AND CONCERN SURROUNDING THE EXPANSION OF THE CPP

7 in 10 view the CPP expansion as a significant issue for their organization

Only 36% believe it will help retirement security for Canadians

91% said they are more concerned about added costs

2	TOP THREE CHALLENGES

20% Adapting current plans
“Understanding how to tie it into the compensation package”

40% Absorption of costs
“Planning for additional costs in a tight business environment”

20% Communicating changes
“Helping the organization understand what it really means to how, when and why”

3	PLANS TO MANAGE ADDITIONAL COSTS

4	PLAN AHEAD

81% Will have assessed the cost implication of the CPP expansion by the end of 2017

How are organizations reacting to the CPP expansion?

HERE IS WHAT WE LEARNED:

Lines of Business