Federal Retirees advocates for better pensions and retirement income security.
With the over-65 population projected to reach 11 million people within the next two decades, the National Association of Federal Retirees is encouraged to see the Conservatives and NDP talking about seniors in today’s platform commitments on retirement income security.
“These issues are important to our more than 170,000 members across the country who are watching this election closely,” says Association CEO Anthony Pizzino. “Canadians need to know they can depend on a strong retirement income system that includes the Canada Pension Plan (CPP), Old Age Security (OAS) and the Guaranteed Income Supplement (GIS).”
Federal Retirees advocates for better pensions and retirement income security. After a lifetime of hard work and planning for retirement, we believe our members and all Canadians deserve dignity and security in retirement. To do that, we all need decent workplace pensions and a strong public pension system that includes the CPP and programs like OAS and the GIS. These latter two are critical to those who are financially vulnerable.
Workplace pensions are a positive for older Canadians and for Canada’s economy, too. The research study, “The Power of Pensions,” makes it clear that workplace registered pension plans contribute to national and local economies and to government budgets all while providing retirement income security. Workplace pension income — and the resulting spending by seniors — will contribute $24.5 billion to federal coffers in 2025.
With threats of changes to international trade and increased cost of living, Canadians on fixed incomes are under increasing pressure, making retirement security a critical issue for older adults and for our next government.
Today, the Conservative party announced its intent to keep the retirement age for the CPP, OAS and the GIS at 65. The NDP shared its intent to increase the GIS. The Conservative party also announced their commitment to a higher threshold for tax-free earnings for working seniors and allowing people to keep savings in RRSPs up to age 73, increasing from 71.
“Our members look forward to what all parties have to say about retirement security during this campaign — and there is certainly more to say,” notes Pizzino. “Whether former public servants or veterans, our members served Canadians for decades. They want to know that Canada’s next federal government will protect the workplace pensions they earned as well as ensure more workplace pensions are available for all Canadians.”
In uncertain times, older Canadians need vision and action from our next federal government to support economic security and quality of life in retirement. Learn more about our federal election campaign.