The future of the Québec Pension Plan

The Québec Pension Plan is here to stay

Aging of the population will put a lot of pressure on the Québec Pension Plan, because benefits will have to be paid to an increasing number of beneficiaries.  

Since the Plan was established in 1966, it has been watched closely. Also, the 1998 reform provides that an actuarial report must be prepared three years instead of every 5 years.

In addition, every 6 years, the government will hold a public consultation to allow the population to voice their opinion on any amendment to be made to the Plan.  

Finally, the contribution rate has been gradually increased, to reach a ceiling of 9,9% as of 2003.

All these provisions were adopted to ensure the long term survival of the Plan and to maintain equity among the generations, even if major demographic changes are expected.

All these provisions have been put into place to ensure the sustainability of the Plan for a very long time and to improve fairness between the generations of workers, despite the significant demographic changes that are occurring.

Other useful link...