Seniors must remember where parties stand on pensions

The week before the Ministers of Finance met in Kananaskis, it appeared that with the exception of Alberta the Ministers were supportive of our campaign to increase the CPP\QPP. The Ontario government had published a discussion paper suggesting an increase to 35% and an increase in the Yearly Maximum Pensionable Earnings to 150% of the average wage phased in over 40 years. Alas on the eve of the meeting, Flaherty and Harper withdrew the federal government support and sugested a voluntary plan for the self-employed and those without a pension. It would pool the risk thus lowering administrative costs but aside form this feature it was another version of RRSP which is of benefit largely to high income earners. Furthermore it was to be run by private companies such as banks and insurance companies.

While this halted the move to increase the CPP\QPP at this time, it has made pension reform a top issue for the next federal election. The federal NDP and the Bloc Quebecois are supportive of the CLC proposal. The federal Liberals explicitly reject our proposal in their position paper on pensions. They have opted for a voluntary plan attached to the CPP vytorin 10 20.

It is up to us to make sure that every senior voter recognizes where the parties stand on pension reform.

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