Pension Fix Blocked By Feds, Alberta, Quebec… And Sask

On Monday, Canada’s finance ministers delayed action on our galloping toward bankruptcy inadequate and underfunded public pension system. You can read about that here. Want some background? Toronto Star columnist Heather Mallick has a fine article that’s required reading. An excerpt:

[Finance Minister Jim] Flaherty seems to regard the CPP as communism. It isn’t. It’s brilliant in a sensible Canadian sort of way. Hard-right governments — American, British and Canadian — are always droning out about “financial literacy.” CAW economist Jim Stanford, who is a director of the Canadian Foundation for Economic Education, points out that this drive, while helpful, also places a greater burden of blame on consumers whose investments tanked recently. It wasn’t the stock market being run like a casino, it was the fault of the dopey investor. Don’t expect the government to help, Flaherty is saying. You’re on your own.

You can, should and must read the whole thing here.

Unfortunately, Saskatchewan is one of the provinces that resisted action on an expanded Canada Pension Plan. Unlike Alberta, however, which is just being an effing dick, Saskatchewan has agreed to discuss improvements to the CPP. If you support a CPP that works, you should contact your MLA to let them know where you stand on the Canada Pension Plan. Opposition MLAs will be happy to bring your concerns forward while government MLAs, obviously, can advocate for their constituents in caucus. Contact information for all Saskatchewan MLAs is here.

Author: Stephen Whitworth

Prairie Dog editor Stephen Whitworth was carried to Regina in a swarm of bees. He's been with Prairie Dog since May 1999 and will die at his keyboard before admitting his career a terrible, terrible mistake.

2 thoughts on “Pension Fix Blocked By Feds, Alberta, Quebec… And Sask”

  1. “On Monday, Canada’s finance ministers delayed action on our galloping-to-bankruptcy public pension system.”

    Stephen shame on you for spreading flase information. Your statement seems to imply that the CPP is in trouble, when in fact the program is so rock solid that it is projected to continue payout for at least 75 years with no problems (during it’s last report in Oct 2009 which is by the way the maximum timeframe they study).

    OAS on the other hand is in trouble since that program is paid out of the federal general revenue fund. But that isn’t the debate for today.

    All this discussion on pension reform seems to be about addressing the central problem that the boomers didn’t save enough for retirement. Yet ironically even if you raised the CPP contribution rate or created that PRPP it won’t change that fact. It’s too late for them. All this debate is basically smoke and mirrors because it doesn’t address the fact that boomers are fucked and have to keep working.

  2. Okay, fine. I knew that was a little harsh when I wrote it. You kids today just don’t appreciate reckless hyperbole.

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