Quebec looks to push retirement age, pension collection - Action News
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Montreal

Quebec looks to push retirement age, pension collection

Philippe Couillards government is looking at pushing back the age at which Quebecers can begin collecting their public pension funds.

Quebec pension plan changes necessary due to increased longevity, Finance Minister Carlos Leito says

Quebec Finance Minister Carlos Leitao, pictured here on May 27, 2015, said big changes are coming to the province's pension plan and retirement age. (Jacques Boissinot/The Canadian Press)

Philippe Couillard's government is looking at pushing back the age at which Quebecers can begin collecting their public pension funds.

Currently, Quebecers can begin receiving pension payments atthe age of 60.

But according to The Canadian Press, Finance Minister Carlos Leito said pushing back the retirement age and the pension timeline are becoming inevitable because people are able to live and work longer.

He said people these days can continue to have active lives for another 25 years if they retire at 60.

Leitomentioned the pension changes at the Liberal congress held on Saturday in Montreal.

The Liberals also want to end financial incentives that favour early retirement, instead replacing them with ones that promote late retirement.

The government's bed already seems to be made these types of measures appeared in the last provincial budget.Leito also said the government would take the changes even further in years to come.

Translated from La Presse Canadienne