(Halifax) – CUPE Nova Scotia is calling on provincial Finance Minister Graham Steele to support expanding the Canada Pension Plan (CPP).
Yesterday, federal Finance Minister Jim Flaherty announced that he favours a pooled registered pension plan over expansion of the CPP. However, polls show that more than three quarters of Canadians support increasing Canada Pension Plan benefits.
CUPE Nova Scotia president Danny Cavanagh says, “It’s outrageous that Canada’s banks and financial institutions have managed to pull the Conservative government’s strings to put this option on the table. This proposal will only leave Canadians exposed to gouging by Canada’s mutual fund industry, who charge the highest administration fees in the world.”
“11 million workers in Canada have no workplace pension plan and many Canadians can’t afford RRSP’s. When they do retire, household bills still have to be paid. Expansion of the CPP is the only option that will work and allow them to retire with dignity,” says Cavanagh.
Cavanagh says, “I am urging Minister Steele to take on a leadership role with the other finance ministers and not abandon the best solution for Canadians in favour of the best solution for banks and financial institutions.”
CUPE has set up a special action webpage, http://cupe.ca/action/kananaskis-cpp, so that concerned citizens can send an urgent email to Prime Minister Harper and Finance Minister Flaherty to remind them that increasing CPP benefits is the best, most efficient way to help Canadians save more for their retirements.
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For information:
Danny Cavanagh
President, CUPE NS
(902) 957-0822 (cell)
Derrick Barrett
CUPE Communications Representative
(902) 455-4180 (o)