Posted: Tuesday, 5 April 2011
How do the platforms of the federal political parties stack up on the issue of retirement security?
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A new $300 million GIS top-up benefit aimed at the most vulnerable seniors |
A $700 million increase to GIS |
A $700 million increase in the GIS |
A minimum $110 increase in monthly GIS benefits |
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New voluntary defined contribution Pooled Registered Pension Plans (PRPPs) |
A new voluntary defined contribution supplemental CPP, allowing contributions of an additional 5-10% of gross pay into a CPP backed fund |
Automatic enrollment in the OAS and GIS for seniors and extension of retroactivity from the current 11 months to 36 months for seniors not receiving entitled OAS/GIS benefits |
Automatic enrollment of seniors entitled to GIS Full retroactivity of GIS payments for seniors who have been wrongly denied benefits |
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A commitment to a gradual but undefined expansion of CPP benefits |
A commitment to double CPP benefits in conjunction with the provinces |
A commitment to pay GIS benefits for six months to individuals whose spouse or partner has died |
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Protection for pensioners’ long-term disability benefits where the employer has become insolvent |
Changes to permit additional voluntary contributions to CPP pension |
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A new stranded pension agency allowing plans sponsored by bankrupt employers to avoid having to liquidate on especially disadvantageous terms |
A national facility to adopt workplace pension plans of companies in trouble or bankruptcy, enabling them to operate on a going concern basis A national workplace pension insurance program guaranteeing pensioners a minimum of $2,500/month in the event of bankruptcy and plan failure Protection for pensioners and workers on long-term disability when companies face bankruptcy and restructuring |
Retirement Security and the 2011 Federal Election