RRSP system is one of Canada's most expensive social programs, costing the federal and provincial governments over $17 billion in foregone tax revenue
Retirees / NUARC
(National Union Action on Retiree Concerns)
- See also Pensions and Retirement Security
"Workers are being told to work longer, pay more and receive less," said James Clancy, NUPGE National President. "We stand in solidarity with each and every UNISON member in the fight for decent pensions. Enough is enough."
The Pension Protection Act moves pensioners to the front of the line of creditors to be paid out during bankruptcy
Many Canadians living pay cheque to pay cheque and unable to save, faced with the prospect of working longer before retirement.
The percentage of the labour force covered by a pension plan declined, from 34% in 1999 to 33% in 2009.
The CPP Fund's assets reached a record high of $148.2 billion at the end of its fiscal 2010. That surpassed a previous high of $127.7 billion in June 2008, months before the onset of the global financial downturn.
Participation of women in pension plans continues the trend upward which began in 1998.
The evidence clearly demonstrated that the government was required to and did put aside real funds to deal with its pension obligations, along with funds collected from plan members' contributions.
Among retired people with debt, 17 percent owed $100,000 or more.
Main split on pensions comes down to continuing to rely on a failed private sector model, or improving and expanding our public pension system.