The Canadian Labour Congress (CLC) is appealing to the federal, provincial and territorial finance ministers meeting today in Ottawa to agree to an expansion of the Canada Pension Plan so that all workers are better able to afford retirement.
Currently only one in three Canadians have a workplace pension plan leaving eleven million workers without one.
“Without government action, we are going to see seniors’ poverty continue to rise,” said CLC President Hassan Yussuff. “Fortunately there is a simple, fair, safe and effective solutions: universal expansion of the CPP.”
With a small increase in Canada Pension Plan contributions, the average worker could end up with twice the CPP benefits at retirement, according to the CLC.
PSAC National President Robyn Benson fully supports CLC’s efforts on the pension front.
“Many of our members are covered by workplace pension plans but they also depend on CPP benefits to stay out of poverty when they retire,” she said.
“The good thing about an improved CPP is that it will help all workers across Canada—those in unions as well as those who aren’t, and those who have a workplace pension as well as those who don’t,” concluded Benson.