Conservatives must act on pensions to avoid fiscal crisis

Ahead of this Friday’s First Ministers’ meeting, the NDP is urging the Conservative government to take immediate action to expand the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP).

“Conservatives know that Canadians depend on the CPP and QPP for retirement security. Strengthening these programs will ensure that all Canadians are able to retire in dignity,” said NDP Pensions critic Murray Rankin (Victoria).  “And now the premier of Ontario is warning that failing to act could mean a fiscal crisis.”

Many experts support a gradual increase in CPP and QPP contributions as the most practical and effective way to help ensure the retirement security of Canadians. The government’s own data shows that even a modest increase in CPP premiums could finance a substantial increase in benefits.

“The Conservatives’ failure to show leadership on this important issue shows that unfortunately Canadians’ retirement security is not one of their priorities.”