Canada is facing an undeniable pension crisis.
Over 11 million Canadian workers are without workplace pension plans. Unless things change now, Canadians will have to work longer for less and face poverty when they retire.
A universal expansion of the Canada Pension Plan is the best way to ensure retirement security for Canadians. With a modest increase to the contributions made by employers and workers, phased in gradually over several years, CPP benefits could be doubled, ensuring as many Canadians as possible can retire with dignity.
We are at a critical moment in the campaign to increase CPP benefits. Despite growing consensus on the need to expand the CPP, efforts have stalled.
Research shows that increasing public pension contributions and benefits is a long-term economic good that, mainly through larger consumption abilities for seniors, results in a bigger economy and more jobs.
It is time that our provincial and territories to take the lead, and make CPP expansion a reality.
Please use the critical opportunity of the upcoming meeting of finance ministers to:
Support the Canadian Labour Congress’s proposal to double Canada Pension Plan (CPP) benefits to ensure a better minimum pension for all Canadians.
Refuse any delay or limits on when improvements will come into effect or who will have access to improved benefits by supporting a universal expansion of the CPP.
Canadians have waited long enough. Stop the stalling, and expand the CPP NOW.