The dream of 'freedom 55' will recede to a new reality of 'freedom 70' for many Canadians if the Conservatives get their way, says NUPGE president James Clancy.
Pensions and Retirement Security
- See also Retirees.
'We support your position that the best fix to the current situation lies in expanding the Canada Pension Plan (CPP) and agree with your hesitations about the effectiveness of proposals for new provincial or inter-provincial pension plans.' - Larry Brown.
Ontario is asked to change legislation to permit the transfer of pension assets to the Ontario Municipal Employees Retirement System (OMERS).
Larry Brown, NUPGE's national secretary-treasurer, says the Harper government is misleading Canadians on pensions issues. Instead of responding effectively to the crisis, the government is stalling and even moving backward, he argues.
Average settlements of $16,000 now being made by Saskatchewan government.
Sets precedent likely to undermine pension plans across the country.
"It was reassuring to hear the OECD state so frankly that an effective pension system is not only socially necessary, but also one of the required responses to the economic crisis," says Larry Brown, NUPGE Secretary-Treasurer
'No wonder the most enthusiastic endorsements have come from employer oriented think tanks.'
'They lost $24 billion and they wiped out the last four years of contributions in that loss.'
Public sector workers pay 8% to 9% of their income to finance public pension plans, far more than the 3% to 5% contribution rate for other workers with pensions. - NUPGE's Larry Brown.