If your income is low, it is very difficult if not impossible to set money aside for your retirement — only those with a considerable income have the luxury of doing that.
In a recent study, CIBC World Study found that nearly six million Canadians will move into retirement with inadequate retirement resources, and many of them will require major government intervention just to survive.
Investing in people, including ensuring they have a safe and secure retirement, has to be one of the three pillars of any government’s economic plan. And that is where government policy changes to encourage and support the Canada Pension Plan (CPP) need to be made.
The CPP already exists, the infrastructure is there, it has a proven record of investments.
The Ontario government has gone on record as supporting an enhanced CPP to go along with private savings and registered pension plans as the three pillars of future economic security for individuals as well as government.
I have asked Premier Clark and my MLA Don McRae to advocate for an enhanced CPP, joining Ontario.
Will you do the same?