Publication

This paper argues that Canada's pension system must adapt to the realities and economic and social challenges of population ageing. The authors describe the Canadian pension system as a mix of public and private elements, focusing on reforms made to the public parts of the system. They then examine the changes to the financing of the Canada pension plan, which is a publicly administered, mandatory social insurance program. The paper concludes with lessons learned from Canada’s experience that are relevant for both developing and developed countries seeking to adapt their pension systems to the challenges posed by population ageing.