On October 19,
2015 Canadians will be going to the polls to elect a Federal Government. One of
the concerns for Boomers should be the issue of Pensions.
The ruling
Conservatives continue to mismanage one of the most pressing economic
issues facing Canada today “Canadians
and provincial governments understand the urgent need for action from the
federal government to address the looming retirement security crisis,” said NDP
Pensions critic Murray Rankin (Victoria). “While The Conservatives keep
blocking progress to boost the CPP/QPP, Canadians are growing increasingly
concerned about their retirement security.”
A new EKOS
survey found that 69 per cent of Canadians believe the federal government
should take a leading role to ensure Canadians can retire – either through
savings programs or income supports.
Fully half of Canadians surveyed said they
were concerned they wouldn’t have enough money for their retirement.
Unfortunately Conservatives have blocked all efforts to boost retirement
savings and increase the Canada Pension Plan (CPP) and Quebec Pension Plan
(QPP) benefits.
“While the
Premiers meet to discuss this pending crisis, Conservatives are actually making
matters worse by blocking increases to public pensions and eroding access to
good quality company pensions,” said Rank
So if the current government returns to power, then the pension situation for seniors and younger boomers will get worse, not better but the only change the other two parties are committed to is to roll back the age where Canadians can collect Old Age Security and the Canada Pension (if eligible and without penalty) to 65. There is a rumor out there in my circle that one of the opposition parties will also remove pension splitting for seniors. So the future of pension reform in Canada under any political party elected in the next election is not looking good.
As we move into the election cycle in Canada remember the old joke (truth) How can you tell if a politician is lying? Answer: They are talking.
So if the current government returns to power, then the pension situation for seniors and younger boomers will get worse, not better but the only change the other two parties are committed to is to roll back the age where Canadians can collect Old Age Security and the Canada Pension (if eligible and without penalty) to 65. There is a rumor out there in my circle that one of the opposition parties will also remove pension splitting for seniors. So the future of pension reform in Canada under any political party elected in the next election is not looking good.
As we move into the election cycle in Canada remember the old joke (truth) How can you tell if a politician is lying? Answer: They are talking.
No comments:
Post a Comment