One of the measures in the last budget, removing compulsory contributions to the Quebec Pension Plan (QPP) from the age of 65, could make it more attractive to return to work after retirement age.
• Also read: Budget Girard: the STM President fears that there will not be enough money for public transport
If people returning to the labor market earlier were paid a lower salary than before retirement, the latter was included in the QPP, which had the effect of reducing the pension.
With this new measure, this is no longer the case, as contributions are voluntary from the age of 65.
People interviewed by TVA Nouvelles welcome this news and believe that this incentive could encourage some people of retirement age to return to the labor market.
“I have friends who are interested in going back to work and it will do them good,” said a passerby.
“If it’s a measure to help people over 65 like me stay in the job market, why not,” adds one man.
“That was about time too,” calls another passer-by. That will sort it out a bit [la pénurie de] staff and it will allow people who are a bit older to stay in the workplace and maybe keep their minds a little more active.”
This is not the only measure announced in the budget for people who want to stay in the labor market.
In particular, the maximum age for entry into pension insurance was raised from 70 to 72 years.