Tell Your Retirement Savings and Pension Stories to the Prime Minister

OTTAWA – Sault Algoma residents are invited to add their stories to Canadians from coast to coast to coast joining a campaign to pressure the government to fix serious flaws in Canada’s retirement savings system.
 
You can go online at www.tonymartin.ca and click on the home page map to find the New Democrat campaign drawing scores of visitors and anguishing stories about lost retirement savings and collapsing workplace pensions.
 
“The recession has exposed something terribly wrong in our country,” Sault MP Tony Martin said. “Individuals and their families should be able to retire in dignity, know their work place pension will be there when they need it and not be in poverty.”
 
“However, millions of Canadians have lost much of their retirement savings (RRSP). Many do not h ave workplace pensions. Thousands of seniors are living in poverty”.
 
Meanwhile, the Conservative government spent billions cutting taxes for profitable banks and oil companies.
 
“I invite the people of Sault Algoma to make sure their story doesn’t go unheard and send the prime minister a clear message,” Martin said. “We can fix this mess.”
 
New Democrat Jack Layton announced last October a comprehensive retirement-security plan that will benefit all Canadians, following months of cross-country consultations that including a visit in Sault Ste. Marie from party Seniors Critic Wayne Marston (Hamilton East-Stoney Creek).
 
The features of the policy announced today are:
 
•        Increasing the Guaranteed Income Supplement (GIS) to end seniors’ poverty.
•        Strengthening the Canada Pension Plan/Quebec Pension Plan, in consultation with the provinces, with a goal of doubling benefits.
•        Developing a national pension insurance program, funded by employer pension plans, that will guarantee pensioners up to $2,500/month in the event of bankruptcy and plan failure.