CARP calls for universal pension plan, unlocking LIFs and elimination of age discrimination in pension plans

TORONTO July 21, 2008: CARP, representing 350,000 members across Canada urges the Nova Scotia Pension Review Panel to improve retirement security for all Nova Scotians by introducing a universal pension plan, permitting unlocking of Locked in Funds and prohibiting mandatory retirement provisions in pension plans.

In its submission to the Review Panel regarding possible amendments to the Nova Scotia Pension Benefits Act, CARP made the following recommendations:

-That a universally available employer and employee funded pension plan be established to supplement the existing retirement income sources and to provide retirement security especially for the 3.5 million working Canadians who do not have adequate private retirement savings vehicles

-That the Pension Benefits Act be amended to provide enhanced unlocking options for Nova Scotians.

-That the Pension Benefits Act be amended to prohibit provisions which discriminate on the basis of age, including mandatory retirement provisions

The Pension Review Panel may be reached at: Click Here or contact the Policy Division Toll Free at: 1-800-567-7544.

For a copy of CARPs submission Click Here

CARP is a national, non-partisan, non-profit organization committed to advocating for social change that will bring financial security, equitable access to health care and freedom from discrimination; ensuring that the marketplace serves the needs and expectations of our generation and providing value-added benefits, products and services to members; and building a sense of community and shared values among our members in support of CARP’s mission.

For further information, please contact:

Michelle Taylor, Communications Coordinator CARP

Susan Eng, VP Advocacy CARP