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Down but Not Out: Reforming Social Assistance Rules that Punish the Poor for Saving

Author

Listed:
  • John Stapleton

    (St. Christopher House)

Abstract

Reform is required for social program rules that prevent the poor from saving in Registered Retirement Savings Plans (RRSPs) and Tax Free Savings Accounts (TFSAs), according to this study. The author says that encouraging asset accumulation, even in small amounts, is crucial in helping to lift people out of poverty. Yet most Canadian welfare, disability and social service programs deny or cancel benefits if applicants or recipients place a modest level of savings in an RRSP or TFSA. Barring a province-led effort at reform, says Stapleton, the federal government should take the lead by calling on provinces and territories to exempt meaningful RRSP and TFSA amounts from their welfare asset rules, leaving individual jurisdictions to decide the appropriate levels.

Suggested Citation

  • John Stapleton, 2010. "Down but Not Out: Reforming Social Assistance Rules that Punish the Poor for Saving," e-briefs 93, C.D. Howe Institute.
    • Handle: RePEc:cdh:ebrief:93
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    File URL: https://www.cdhowe.org/public-policy-research/down-not-out-reforming-social-assistance-rules-punish-poor-saving
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    Citations

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    Cited by:

    1. Philippe Bergevin, 2010. "Addicted to Ratings: The Case for Reducing Governments’ Reliance on Credit Ratings," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 130, May.
    2. William B.P. Robson & Colin Busby, 2010. "Freeing up Food: The Ongoing Cost, and Potential Reform, of Supply Management," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 128, April.
    3. Lawrence L. Herman, 2010. "Trend Spotting: NAFTA Disputes After Fifteen Years," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 133, July.
    4. Benjamin Dachis & Robert Hebdon, 2010. "The Laws of Unintended Consequence: The Effect of Labour Legislation on Wages and Strikes," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 304, June.
    5. John Richards, 2010. "Reducing Lone-Parent Poverty: A Canadian Success Story," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 305, June.
    6. Henning Bjornlund, 2010. "The Competition for Water: Striking a Balance among Social, Environmental, and Economic Needs," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 302, April.
    7. Robert Knox, 2010. "Who Can Work Where: Reducing Barriers to Labour Mobility in Canada," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 131, June.
    8. Martin Cave & Adrian Foster, 2010. "Solving Spectrum Gridlock: Reforms to Liberalize Radio Spectrum Management in Canada in the Face of Growing Scarcity," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 303, May.
    9. Colin Busby & William B.P. Robson, 2010. "Target Practice Needed: Canada’s 2010 Fiscal Accountability Rankings," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 129, May.

    More about this item

    Keywords

    Social Policy; Registered Retirement Savings Plan (RRSP); Tax Free Savings Account (TFSA); social assistance;
    All these keywords.

    JEL classification:

    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs

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