cpp

Liberals' pension reforms fall woefully short for Canadian workers

While changes to the Canada Pension Plan (CPP) recently adopted by the current federal Liberal government offer some improvement, they do not go far enough.

The legislation includes an increase to the annual payout from 25 per cent to 33 per cent of pre-retirement earnings. In addition, the maximum amount of income covered by the CPP increases from $54,900 to about $82,700 -- once it is fully phased in. However, because the changes do not fully come into effect until 2025, most workers will not have saved enough or contributed a sufficient amount to the CPP and therefore many will be retiring in poverty.

For a government that claims its legislation is fact-based, it has clearly misread the facts.

The facts are:

Tags:

Comments

We welcome your comments! rabble.ca embraces a pro-human rights, pro-feminist, anti-racist, queer-positive, anti-imperialist and pro-labour stance, and encourages discussions which develop progressive thought. Our full comment policy can be found here. Learn more about Disqus on rabble.ca and your privacy here. Please keep in mind:

Do

Tell the truth and avoid rumours.
Add context and background.
Report typos and logical fallacies.
Be respectful.
Respect copyright - link to articles.
Stay focused. Bring in-depth commentary to our discussion forum, babble.

Don't

Use oppressive/offensive language.
Libel or defame.
Bully or troll.
Post spam.
Engage trolls. Flag suspect activity instead.

Trudeau may tweet a good game on equal rights, but his broken promises are hurting women

Emilie Taman

| February 2, 2017

We are at a scary point in history -- one that I hope will end up being told through the voices of the hundreds of thousands of courageous people pouring onto the streets to stand in defiance of the hate, fear, racism and misogyny that is being propagated by the new American President and political opportunists here in Canada.

Monday, we stood together in shock, mourning the six innocent victims of this political agenda of racism and intolerance. Men shot, here in Canada, because they prayed at a mosque instead of a church.

Ten things to know about the federal pension debate

Nick Falvo Allan Moscovitch Richard Lochead

| November 1, 2016

This fall, Canada's Parliament will debate a recent proposal to expand the Canada Pension Plan (CPP). Indeed, since the 2008-2009 world financial crisis, Canada has witnessed a renewed public debate on the CPP. Two factors have prompted this. First, as a result of the crisis, employer-sponsored pension plans lost substantial value. Second, partly in response to this loss in value, many employers either reduced their pension coverage or stopped offering them to workers altogether.

With all of the above in mind, here are 10 things to know about the CPP:

CPP expansion is a good start, but labour will keep fighting for retirement security of all Canadians

June 23, 2016 |

From the inception of its campaign, the labour movement has been advocating a 100% increase in CPP benefits, but the new government agreement will only see benefits increase by a little more than 33%.

Tags:

cpp Pension Reform NUPGE retirement security

Feds and (most) provinces agree to (very modestly) enhance pensions

Karl Nerenberg

| June 21, 2016

Like this article? rabble is reader-supported journalism. Chip in to keep stories like these coming.

The federal finance minister and eight of his provincial counterparts have reached a deal to enhance the Canada Pension Plan (CPP).

Quebec has its own, parallel, Quebec Pension Plan (QPP), which it will also enhance; but in its own way, not in lock-step with the other nine provinces.

Manitoba has not signed on to the deal.

Liberal budget repairs some damage, but lacks clear direction to help working people

March 23, 2016 |

There is still no clear plan from the Trudeau Liberal government to strengthen the economy and help working people in Canada.

Tags:

cupe cpp bill morneau 2016 Federal Budget

Canada Pension Plan Disability is failing many of the most vulnerable Canadians

February 10, 2016 |

This week, Canada’s Auditor General Michael Ferguson released a damning report on the state of the Canada Pension Plan Disability (CPPD) program.

Tags:

seniors CLC cpp CPPD disability program

Photo: Premier of Ontario Photography/flickr

Ontario goes it alone on public pensions

Hugh Mackenzie

| January 28, 2016

Like this article? rabble is reader-supported journalism. Chip in to keep stories like these coming.

The big news out of the latest announcement from the Ontario government about the Ontario Registered Pension Plan (ORPP) is that there is no news.

Trudeau's finance minister and his provincial colleagues play Scrooge on pensions

Karl Nerenberg

| December 23, 2015

rabble is expanding our Parliamentary Bureau and we need your help! Support us on Patreon today!

The millions of Canadians with zero or very little pension coverage are going to have to wait a while for any relief.

The federal and provincial finance ministers met just before Christmas and decided now is not the time to enhance the Canada Pension Plan (CPP) and its Quebec counterpart, the Quebec Pension Plan (QPP).

Instead of acting, they decided the pension issue needs more study.

CARP is pushing for pension plan reform in the 2015 federal election. For the first time, pension reform is part of all three parties' platforms ahead of the federal election.

Read the full report here: http://www.carp.ca/2015/08/31/carp-is-pushing-for-canada-pension-plan-re...

embedded_video

Tags:

cpp Pension Reform Canada Pension Plan 2015 federal election govote

cpp

Liberals' pension reforms fall woefully short for Canadian workers

Comments

Do

Don't

CARP report on pension reform in 2015 election

embedded_video

rabble.ca in your inbox!

Top Picks On rabble