Retirement Security For Canadians

The recession has exposed serious flaws in Canada’s retirement savings system. At least 11 million Canadians have only their public pensions to rely on for their retirement, and, at current levels, those pensions offer benefits that are far from adequate.

The measures Jack Layton announced on October 22 are part of a comprehensive retirement-security plan that will benefit all Canadians. It was developed after months of cross-country consultations undertaken by New Democrat Pensions Critic Wayne Marston.

New Democrats have a comprehensive retirement security plan that ensures you retire with comfort and dignity:

Raising the Guaranteed Income Supplement
For just $700 million—a fraction of Stephen Harper’s corporate tax cuts—we can lift each and every senior out of poverty.

Expanding Public Pensions
We want to increase the amount you can contribute to the Canada Pension Plan/Quebec Pension Plan in order to double your top monthly benefit—from $908 to $1817.

Protecting Workplace Pensions
We propose pension plan insurance to guarantee a monthly payout of up to $2500. We also want to give pensions top priority among creditors when companies fail.

Visit www.ndp.ca/retirement and share your own retirement story. If you or someone you know is worried about retirement, we want to hear about it.