Michael Ignatieff announces Liberal plan to strengthen public pensions and support seniors
VANCOUVER – A Liberal government will help Canadian families save for retirement with new measures to enhance our public pension system, including increased support for seniors and a new, voluntary Secure Retirement Option for Canadians without access to a pension plan, Liberal Leader Michael Ignatieff announced today.
As part of our plan, a Liberal government will work with the provinces and territories to enhance the Canada Pension Plan (CPP) with:
■ A gradual expansion of the benefits provided by the CPP; and
■ A new Secure Retirement Option that will offer Canadians a simple, voluntary, tax-deductible savings option backed by the trusted, publicly-run CPP.
A Liberal government will also provide a $700-million annual boost to the Guaranteed Income Supplement to reduce poverty among seniors, especially women and seniors with disabilities.
To help workers left out in the cold when their employer goes bankrupt, Mr. Ignatieff also committed to greater protection for those collecting long-term disability benefits, and to create a Stranded Pension Agency to give Canadians a new and safe option to manage their private pensions after corporate bankruptcies.
Retirement security is a HUGE issue right now, so this looks like a winner. The challenge, of course, is communicating a complex pension and income supplement scheme in a 15 second pitch.