What we want
- Improve benefit levels of the Canada Pension Plan (CPP) and Guaranteed Income Supplement (GIS) to ensure all seniors’ incomes are well above the poverty line.
- Amend the CPP Investment Board’s mandate to prohibit investment in public private partnerships.
- Amend the Federal Pension Benefits Standards Act to ensure better protection and information for seniors.
- In a bankruptcy situation ensure that the pension fund is protected.
How the Liberals have failed
- Nearly 1 in 5 unattached senior women live in poverty, as do nearly 8% of all Canadian seniors.
- Many seniors lose pension elements each year because the Liberal government won’t tell them they’re eligible.
- Rather than improving workplace pension plan coverage, the Liberal government raised the limits on tax deductions for individual savings plan contributions.
Why the Conservatives would be worse
- The Conservatives encourage individual savings plans rather than strong defined benefit workplace pensions.
- They want to see the CPP investment fund maximize returns rather than allow socially responsible policy objectives.
- While they say they are committed to the CPP and GIS, they have no intention of improving the benefits.
What the New Democrats say
- The NDP have called for the CPP to account for Canadians’ social values when investing. They have specifically called for a ban on investments in tobacco and war.
- They support the need to ensure that seniors who are entitled to CPP and GIS receive the benefit.
- The NDP support eliminating employer contribution holidays – a practice of employers using the surplus as their contribution.
- They put workers first with the Wage Earner Protection Act (Bill C-55) that gives some protection to pension funds in a bankruptcy.
