Finance Minister Jim Flaherty says he will push for a new private-sector plan allowing small firms, employees and even the self-employed to pool resources on new, low-cost pensions (Jeff McIntosh/Canadian Press)

By CBC News

Finance Minister Jim Flaherty said now is not the time for mandatory increases for Canada Pension Plan premiums.

Flaherty's comment comes ahead of a meeting on Monday with provincial and territorial finance ministers, who are expected to put up fierce resistance to his proposed pension reforms.

In an interview on Monday morning from Kananaskis, Alta., Flaherty told CBC News that Canada's economic recovery remains fragile and the Conservative government is worried about "putting more burdens on employers and employees."

Flaherty surprised his provincial colleagues last week when he said he won't be proposing any CPP expansion because not all provinces were on board. Instead, the minister said he would be pushing a new private-sector plan allowing small firms, employees and even the self-employed to pool resources on new, low-cost pensions.

The finance ministers of B.C., P.E.I., Nova Scotia, New Brunswick, Manitoba and Ontario issued a joint statement Sunday asking Flaherty to keep CPP expansion on the table alongside the private-sector changes he's proposing.

Quebec Finance Minister Raymond Bachand, however, agreed with Flaherty's position on Sunday in an interview with the Globe and Mail.

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Should CPP premiums be expanded now? Would you support a pooled private-sector pension plan without CPP increases? Let us know in the comments below.