This article was originally published by the Toronto Sun on Monday January 11th, 2010. To view their webpage, please Click Here
A pension plan for the more than six in 10 workers without one should be set up in Ontario, NDP Leader Andrea Horwath says.
“In the private sector, fewer than 20% have a plan,” Horwath said.
“Private solutions like RSPs have not fixed this problem.”
Horwath said employees who toil away without a pension deserve access to a well-run, province-wide plan similar to that provided for teachers and other public workers.
Such a plan would ensure a maximum $600-$700 a month (2010 dollars) in stable retirement income to help raise low-income earners above poverty levels, she said.
Susan Eng, of CARP, which represents people 55 years and older, said politicians across Canada have claimed to be interested in resolving this pressing problem but have failed to act, leaving many seniors scrambling to cover daily expenses.
“That kind of serial stalling is wearing thin… in bad times they really need to show some bold political leadership,” Eng said.
Keywords: pension, pension reform