I don't think any country or any government should force its citizens to abide by such a restrictive clause. So, I would militate for change were I a Canadian citizen. That advice would apply to anyone of any nationality. And hey, you can still save additional money outside of your retirement plan, and invest that wherever the heck you like. You mention that credit card debt should be paid off completely prior to investing.
Mortgages are one example.
All these companies are burning money like it's infectious. We invest in companies based on their long-term prospect. We therefore don't buy into IPO hype for the sake of IPO hype. In my Foolish opinion, there aren't a lot of companies coming public in any given month that fit that bill. Again, analyze a company from a long-term standpoint, that's the way you'll make your best investments.