December 16, 2015
Toronto ON: CARP Members will expect action on a CPP increase after Finance Ministers’ meeting this weekend and will have little patience with premiers, old or new, who want to re-argue the issue.
The federal, provincial and territorial [FTP] finance ministers will meet this weekend and CPP is on their agenda.
According to media reports, some premiers are being coy about whether they will join in the consensus needed to amend the CPP [two-thirds of the provinces with two-thirds of the population plus the federal government’s consent]. Any of the larger provinces could potentially veto the process.
“It is well past time to act on ensuring that all Canadians can save adequately for their own retirement. All the political foot dragging to date has had the silver lining – Canadians now know what’s at stake, and like CARP members, support a CPP increase by wide margins. The finance officials have all the facts and analyses at hand, the implementation details are not mysterious – all that is missing is political will. On that note, the Ontario premier, prime minister and finance minister ran elections on this and won majorities. So there will be no patience among CARP members certainly for premiers who are seen to be delaying this file any further.”
- Susan Eng, Executive Vice-President CARP
The last time the CPP increase was on the table was at the FTP Finance Ministers’ meeting in December 2013 where there was said to be a consensus among the premiers but then junior Minister of Finance took the issue off the table, thus enraging the premiers and prompting Ontario premier Kathleen Wynne to propose the ORPP for Ontario residents only. While CARP members support the ORPP, they would prefer a national plan that would be portable and universally accessible.