Cornwall - Apr. 11, 2011 - Pension protection is an issue that many Canadians are concerned about and the riding of Stormont-Dundas-South Glengarry is no exception.
“We have a growing senior population within Stormont-Dundas-South Glengarry and they are telling me about very serious concerns over their financial future,” said Federal Liberal candidate Bernadette Clement.
The Liberal Family Pack states that to make sure every Canadian has a secure retirement, a Liberal government will:
Work with the provinces and territories to gradually expand the Canada Pension Plan (CPP), the most reliable, simple and low-cost way to save;
Put forward the Secure Retirement Option (SRO), a voluntary supplement to the CPP for any Canadian worker who wants it. Under the SRO, Canadians could save a tax-deductible percentage of their pay in a secure retirement fund backed by the CPP; and
Help low-income seniors with a $700-million boost to the Guaranteed Income Supplement (GIS)
Clement went on to say that, “The Liberal Family Pack will support seniors by strengthening pensions and helping families with the financial pressures of caregiving. Our plan will ensure seniors can retire with security and dignity.”
“In some instances, I am asked about situations like the Nortel Pension Plan. This is a case where with the bankruptcy of Nortel, pensioners have lost medical benefits and up to as much fifty per cent of their pension. The federal government failed in the last parliament to protect the rights of retirees and their pension plans. It is too late to change things for the Nortel pensioners, but it is not to late to protect future pensioners who could be in similar circumstances by enacting the necessary legislation. That is one of the reasons why I am running to be your Member of Parliament and help make a difference for you,” said Ms. Clement.
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