Quebec debating whether to raise the retirement age

The Quebec government is currently debating whether to raise the retirement age from 60 to 62.

Currently, the minimum eligibility age for the Quebec Pension Plan is 65.

Quebecers can retire as early as 60, but they incur a penalty.

Quebec, like many other Canadian provinces, is currently in the midst of high job vacancies and historically low unemployment, as the country faces record retirements from an aging labour force.

At the same time, many Canadians admit they don’t feel they have enough money to retire when they’re eligible to do so.

According to official government data, 27 per cent of Quebecers aged 55 to 64 have no savings other than what the Quebec Pension Plan offers.

Unions and opposition parties cite concerns

But labour groups in Quebec question the merits of such a decision, citing major safety concerns among other reasons.

They argue that the government should improve working conditions for seniors if they want to keep them working longer.

Opposition parties are also voicing their concerns as the hearings continue.

Both Quebec solidaire and the Parti Québécois have proposed cutting the tax rate for a portion of income as motivation for older workers to stay in the labour force a little bit longer.

Discussions continue as part of hearings that take place every six years, as required by the law on the Quebec Pension Plan.