The Canadian Labour Congress says it’s time for the provincial and territorial premiers to ask the federal government to expand the Canada Pension Plan (CPP).
Ken Georgetti, the organization’s president, is pleased that Ontario has pledged to continue to press for CPP expansion at this week’s Council of the Federation meeting in Niagara-on-the-Lake, Ont.
“While the federal government drags its feet, it falls on the provinces to lead the way to ensure that Canadians have enough for a decent retirement after a lifetime of work,” he says.
Georgetti adds that RRSPs and pooled registered pension plans don’t work for a majority of Canadians. He also dismisses the argument that CPP expansion will hurt businesses.
“The choice for today’s political leaders is stark—you can help business save a little more today by dragging your feet on retirement income security, or you can take steps to prevent a retirement income crisis that will result in a generation of impoverished seniors whose care will come at a very high social and economic cost to the Canadian public and business alike.”
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