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Canada is at a crossroads, just like it was forty years ago when it was time to do something about our health care system. Today, we need to do something about retirement income, and we need to do it soon.
It’s time to change some things The problem with Canada’s retirement income system has become so obvious that even bank economists have started to admit the RRSP approach has failed. There’s too much risk and not enough security to ensure that, after a lifetime of work, people can retire and live out their last years in dignity. We need to increase CPP benefits, boost low-income (GIS) public pensions so no senior lives in poverty, and introduce federal pension insurance to protect our hard-earned retirement savings. Raising the minimum retirement income floor with more robust public pensions combined with the guaranteed protection of additional savings offers clear benefits to everyone. Whether retirement is just around the corner or something that’s decades into the future, Labour’s plan for Retirement Security has clear benefits for everyone - no matter where you work.
Grow the CPP - A better way to save The best way to help today’s workers save enough money for tomorrow is by increasing what everybody gets from the Canada Pension Plan (CPP) as a share of their total retirement income. Which is why we’re proposing that over the next several years we lay the foundation to double CPP benefits for the future.
Pension Insurance Recent events have made it obvious: Canadians need an insurance system to protect their pensions. This requires leadership at the federal level that can be joined by willing partners at the provincial level.
Increase OAS/GIS Benefits We also propose a 15% increase to the Guaranteed Income Supplement of the Old Age Security pension to lift all seniors out of poverty immediately.
With your help, we can win. And here’s how... Call your Member of Parliament (Click Here for the contact list) Tell them you support the CLC’s position on phasing in the doubling of the CPP. Ask them to support it. Call your Provincial Representative and ask them to support the CLC’s proposed change to the CPP. (Click Here for the contact list) Assist with the campaign, Sign up online now. Talk to co-workers in your workplace and ask them to call their MPs and provincial government representatives. Write a letter to your local newspaper.
For more information on retirment security please visit their website at www.canadianlabour.ca.
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