Canadian Labour Congress

Canadian Labour Congress

January 23, 2007 14:49 ET

CLC/Georgetti on Pensions: "The CFIB's Thinking is Upside Down"

OTTAWA, ONTARIO--(CCNMatthews - Jan. 23, 2007) - The Canadian Labour Congress calls on the Canadian Federation of Independent Business (CFIB) to rethink its conclusions on the right of public employees to the pensions they work hard for and contribute into, so in their older years they can enjoy dignity and economic security.

"The CFIB's thinking is upside down and their so-called study on pensions identify the wrong problems," explains Ken Georgetti, president of the Canadian Labour Congress.

"Instead of looking for a rising tide that raises all boats, the CFIB is trying to sink the modest middle-class prospects that public employees have worked hard to achieve."

Georgetti wrote a letter to CFIB president Catherine Swift about her public statements on the matter. The letter also shows surprise that these statements expressed a view that does nothing to benefit CFIB members:

"As Canadians expect a better income from public and workplace pensions... more pensioners could buy goods and services of small to medium employers, who form a crucial backbone of Canada's economy."

"Let's work together on a strategy that could offer decent pension coverage for small to medium employers. There are plenty of ideas worth kicking around.

"One is to demand far better regulation of personal savings accounts like Canadian RRSPs. We should lobby Parliament together to regulate our financial services industry better, so hard-working Canadians retain more of their retirement money."

"(Another would be) a voluntary employer/employee supplement to the Canada Pension Plan. Small to medium-sized employers without the resources to run their own pensions could pay a modest sum to CPP, and the workers could do likewise. They could reap the benefits of Canada's own Rock of Gibraltar."

In conclusion, the letter states: "In a shrinking labour market, this could do wonders for employee retention for CFIB members. The future of Canada's retirement security lies in our hands. Let's put aside the ideological battle-axes, and consider policy that moves working Canadians forward together."

The complete text of the letter is available on the Canadian Labour Congress' web site, next to this news release.

The Canadian Labour Congress, the national voice of the labour movement, represents 3.2 million Canadian workers. The CLC brings together Canada's national and international unions along with the provincial and territorial federations of labour and 135 district labour councils. Web site:

Contact Information

  • Canadian Labour Congress
    Jean Wolff
    613-526-7431 and 613-878-6040