Posted: Thursday, 7 July 2011

Keith Horner, a former senior economist with the federal Department of Finance, has produced a study in which he says improving benefits under the Canada and Quebec Pensions Plans is the best option for ensuring retirement security for Canadians. The report has received significant coverage in newspapers, including The Globe and Mail in Toronto. The newspaper also carried the following letter from CLC president Ken Georgetti on July 7.

Letter to the Editor
As published in the The Globe and Mail, July 6th, 2011

Keith Horner, formerly a senior federal Department of Finance official, has produced a study saying that the best way to provide for the financial security of retirees is to expand the Canada and Quebec Pension Plans (Retired Economist Advocates CPP Expansion - July 6). We are pleased that someone of Mr. Horner's competence and stature agrees with us. He says that expanding CPP benefits for retirees is a far better option than other proposals on the table, including the Harper government's preference for a private sector option called Pooled Retirement Pension Plans. If we don't do something, future taxpayers will face increased burdens as the government is forced to increase payments under the Old Age Security and Guaranteed Income Supplement programs to help seniors who have inadequate pensions. So what is the government waiting for?

Ken Georgetti
President, Canadian Labour Congress