FOR IMMEDIATE RELEASE
December 17, 2014
OFL Welcomes Ontario’s Public Pension Consultation
(TORONTO, ON) – “Today’s release of the Ontario Government consultation paper on the proposed Ontario Retirement Pension Plan (ORPP) marks the beginning of public deliberations on retirement security that Ontarians have been demanding for over twenty years,” said OFL President Sid Ryan. “It also exemplifies the failure of the Harper government to defend the future of Canadians.”
Despite public demand, provincial support and sustained lobbying from Canada’s labour movement, the Harper government has repeatedly rejected the call for an expanded Canada Pension Plan (CPP). The result is a desperate situation where the 70 percent of Canadians without a workplace pension can expect to languish on sub-poverty CPP benefits when they should be enjoying their golden years. The average Ontario retiree receives a meager $6,800 a year from the CPP.
Yet, dwindling personal savings and ballooning household debt paint a bleak retirement future for a province that has shed nearly 300,000 manufacturing jobs since 2000 and now gives home to half a million people (one in ten workers) who toil for minimum wage. With the number of seniors expected to double by 2036, it is fair to say that the lack of retirement security is the crisis of our times.
The OFL welcomes the release of Ontario’s pension consultation paper and is pleased that Finance Minister Sousa has already responded to one of labour’s biggest concerns by confirming that Pooled Registered Pension Plans (PRPPs), which amount to glorified savings plans, will not be deemed comparable to the ORPP.
“Ontarians already know the plight of retirees, but now we can present concrete solutions. Ontario has an opportunity to protect families where Harper has failed them,” said Ryan. “I can confidently say that Ontario’s labour movement, representing more than one million workers, will be fully engaging in this public process to ensure that Ontario’s pension plan provides the strongest possible security for retirees.”
The Ontario Federation of Labour (OFL) represents 54 unions and one million workers in Ontario. For information, visit www.OFL.ca and follow the OFL on Facebook and Twitter: @OFLabour.
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For further information:
Sid Ryan, OFL President: 416-209-0066 or @SidRyan_OFL
Joel Duff, OFL Communications Director: 416-707-0349 or jduff@ofl-org.flywheelsites.com *FRE/ENG*
