Conservatives block action on retirement security

Official Opposition Pensions critic Murray Rankin (Victoria) made the following statement on the defeat of his motion:

“Canadians depend on the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP) for retirement security.

By voting against this NDP motion, which would have helped thousands retire in dignity, the Conservatives have made it clear that they are too busy looking out for their well-connected friends to put Canadians first.

Experts agree that a phased CPP/QPP increase is the most effective way to help ensure retirement security for all Canadians. Unfortunately, the Finance Minister has broken his promise to work with the provinces to increase CPP/QPP and is now the standing in the way of efforts to improve retirement security for Canadians.

Canada stands on the brink of a retirement security crisis. According to CIBC, 5.8 million Canadians, nearly a third of our workforce, are facing a steep decline in their standard of living. For young people and women, the numbers are even worse.

Canada cannot afford not to invest in improving retirement security. By telling Canadians they will have to work two more years to collect Old Age Security and failing to work with the provinces to increase the CPP, Conservatives are ignoring the very real challenges that Canada’s aging population faces.

New Democrats know that very stability of Canada’s economic future is at risk. This is why we launched a national campaign to expand the CPP/QPP.

Ensuring that all Canadians are able to retire in dignity remains a priority for New Democrats and we will continue working to make that happen. The time to act is now.”