Town Hall on Retirement Security Crisis Promotes Increasing CPP Contributions

MONCTON, NEW BRUNSWICK--(Marketwired - Dec. 5, 2014) - Community advocates gathered at a town hall meeting on Thursday evening to discuss how expanding the CPP is the best way to end the pension crisis currently facing people in Moncton and across the country. Panelists Vallie Stern, President of the New Brunswick Pay Equity Coalition, Cecile Cassista, Executive Director of the Coalition for Seniors and Nursing Home Residents' Rights, and Jean-Claude Basque, Executive Director of the New Brunswick Common Front for Social Justice Inc. were united in their support of an expanded CPP.

Stearn explained that the wage gap between men and women inevitably follows women into retirement. "Benefits and pensions - or lack thereof - are part of that equation. Expanding CPP would help level the playing field in a big way for women," she said.

Here in Moncton, 95% of those 65 or older had income from CPP in 2012, while only 7.5% had income from an RRSP.

"Canada is in a crisis. More and more, the aging population in New Brunswick is living in poverty. By not having an adequate pension plan to retire with dignity, many seniors are forced to rely on social assistance programs, like food banks. Things will only get worse if changes are not made," said Cassista.

The Canadian Labour Congress, the national voice of the labour movement, represents 3.3 million Canadian workers. The CLC brings together Canada's national and international unions along with the provincial and territorial federations of labour and 111 district labour councils.

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