"When you attack people's retirement savings, you are asking for the fight of your life and I think it would be a most unwise thing for any political party to do.”
Pensions and Retirement Security
- See also Retirees.
Retiring boomers leading downward trend
About 1,000 pensioners from paper mills in all three provinces stand to lose up to 40% of their modest pensions when Fraser Papers goes into bankruptcy.
Abitibi, Nortel and CanWest workers need action now: says NDP
(16 Dec. 2009) - 'We need a National Pensions Summit that provides Canadians from all walks of life with an open forum to fairly explore and assess the viability of all options designed to improve retirement security for all Canadians.' - James Clancy.
Pension fund revenues exceeded expenditures by $10.6 billion, representing first positive cash flow since the second quarter of 2008.
CPP benefits increase by 0.4 percent: 2010 Yearly Maximum Pensionable Earnings (YMPE) set at $47,200
Proposed legislation deals with less controversial issues before more difficult matters to be dealt in further legislative changes planned for 2010.
Liberals would also provide workers the opportunity to have CPP take over the investment of their pension plan in the event their employer goes bankrupt.
B.C. and Alberta governments prefer Ottawa take the lead in pension reform but are prepared to go their own way should the federal effort fall short.