Ontario Federation of Labour

Ontario Federation of Labour

August 05, 2009 13:41 ET

OFL Urges McGuinty to Lead the Call for a National Pension Summit at This Week's Premiers' Meeting

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2009) - "It is urgent that a pan-Canadian Pension Summit be held to shape a vision of retirement security for all Canadians," said OFL president Wayne Samuelson. "We are urging Dalton McGuinty to advocate for the Summit to bring together government, business, labour and other stakeholders on this priority issue in these uncertain times."

In Ontario, 62 percent of workers are not members of a workplace pension plan. The agenda for the Summit must include an action plan to expand coverage to include the majority of Ontario workers. "We will continue to advocate to ensure that pension promises are kept - along with improvements in retirement security for workers who are not members of private pension plans.

"The most effective way to increase retirement security for all Canadians would be to increase Canada Pension Plan (CPP) benefits. The Arthurs Report, the Ontario government's expert commission on pensions, recommended this option. Increasing CPP benefits would draw on existing economies of scale, risk-sharing and administrative efficiencies of the Plan," Samuelson said. "This would be the lowest cost option to improve retirement security."

The National Pension Summit should provide a concrete plan to expand the CPP to improve retirement security for all Canadians.

Contact Information

  • Ontario Federation of Labour
    Wayne Samuelson
    President
    Federation of Labour Presidents' Meeting, Regina
    416.571.7408 (cellular)
    or
    OFL Communications
    Dana Boettger
    416.443.7665 (direct)
    www.ofl.ca