Liberals confirm to CARP that Liberals will not reverse pension income splitting

TORONTO ON. October 3, 2008: In a telephone call at noon today, Liberal Seniors Critic Carolyn Bennett confirmed to CARP that the Liberal Party has no intention whatsoever of reversing pension income splitting.

In news releases and media coverage, there have been comments attributed to Liberal candidates that question the value of pension income splitting, something that CARP advocated and secured from the Conservative government in the last federal budget.

CARP issued the attached news release this morning which asked “Will Dion sacrifice pension income splitting to finance green shift scheme?

CARP spoke with Dr. Carolyn Bennett, Seniors Critic for the Liberal Party and obtained the following clarification:

“I can confirm to CARP members and all Canadian pensioners that the Liberal Party has absolutely no intention of reversing pension income splitting. We are well aware of the anxiety that retirees who depend on their pension income will be feeling in this market turmoil and we would not add to their anxiety”, said Dr, Carolyn Bennett, Seniors Critic for the Liberal Party.

“That official clarification comes as a welcome reassurance for our members and anyone who is watching their retirement savings disappear in this market crisis. The thought that the hard won tax benefit that CARP advocated for to ease the financial burdens for pensioners would be removed was more than they could accept”, said Susan Eng, Vice President, Advocacy of CARP which has been getting calls and emails from worried pensioners.

“It is bad enough that none of the federal parties have proposed any real solution to the current market turmoil without this added threat. All Canadians who have investments or depend on pension income are concerned but especially those who are retired or close to retirement because they do not have other income to replace what is lost.” added Eng.

CARP has also called on the political leaders to detail their plans to protect Canadians’ financial security especially retirement security amid the current market turmoil. For copies of that media release and background information, please Click here

CARP is a national, non-partisan, non-profit organization committed to advocating for a New Vision of Aging for Canada which means 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
Susan Eng
Vice President Advocacy
CARP, A New Vision of Aging for Canada
416.363.7023 x. 236

News release: October 3, 2008

Will Dion sacrifice pension income splitting to finance green shift scheme?

Accused by Mr Harper during the English debate of voting against pension income splitting, Mr Dion indicated he had something much better for Canadians. BUT, why should pensioners have to shoulder the major burden of Mr Dion’s Green Shift?

President Lyndon Johnson once said, “Politicians must learn how to count” In commentary after the French language debate, a Liberal spokeswoman said pension splitting only benefited 12% of Canadians. She forgot that Pension splitting received a 70% approval in a poll held after the legislation was passed in 2007, the largest for any legislation in a decade