Federal Superannuates National Association (FSNA)

Federal Superannuates National Association (FSNA)

October 29, 2009 08:00 ET

FSNA Reacts to Minister Flaherty's Announcement on Pension Reform

OTTAWA, ONTARIO--(Marketwire - Oct. 29, 2009) - FSNA, operating as the National Association of Federal Retirees, is pleased to hear that the Government of Canada is taking action to strengthen the pension framework and enhance benefit security for some workers and retirees. FSNA made its concerns known as one of the key witnesses during the pan Canadian public consultation process on the regulatory framework for private pension plans.

Most of the measures announced on Tuesday by The Honourable Jim Flaherty, Minister of Finance, however, are related only to the 7% of pension plans which are federally regulated. The legislative and regulatory changes proposed by the Minister of Finance will not address the pension and retirement income issues that the large majority of Canadians face. In particular, these measures will not affect the situations of the 11 million working Canadians who are not covered by a company pension plan.

The report of the federal/provincial/territorial Research Working Group on Retirement Income Adequacy, which is due in December, will provide an unprecedented opportunity for first ministers to address the issue of adequate and secure retirement income for the vast majority of Canadians.

FSNA looks forward to further federal and provincial legislation that will improve the situations of present and future retirees. FSNA will be especially interested to see legislation that will enhance the effectiveness and resilience of the CPP while ensuring it remains affordable and fair for future generations.

About FSNA

FSNA is the largest and most influential advocacy group for federal retirees. As a not-for-profit association with more than 165,000 members, FSNA is recognized by the Government of Canada as the major representative of pensioners - and their partners, and survivors - from the Public Service, Canadian Forces and the Royal Canadian Mounted Police and of retired federally appointed judges. FSNA's mission is focused on protecting the interests and improving the benefits of pensioners.

Contact Information

  • Federal Superannuates National Association (FSNA)
    Sylvia Ceacero
    FSNA Executive Director
    613-745-2559 ext. 231
    613-745-5457 (FAX)
    sceacero@fsna.com
    www.fsna.com