CARP Policy Bites: OAS, PRPPs, Mandatory Retirement and Elder Abuse

PRPPs is a good start but more needs to be done

CARP’s actions have been felt in the corridors of power at Parliament Hill. This year, CARP continued to press the Federal Government to address the retirement securities gap to help Canadians adequately save for their retirement. The Federal Government responded in 2010 with the introduction of the Pooled Registered Pension Plan(PRPPS) through Bill C-25 , which has finally pushed through in receiving Royal Accent on June 28, 2012. Although PRPPs fall short of the core goal of providing a universally accessible and affordable retirement savings vehicles, it is a step in the right direction. CARP will continue to monitor the bill, while pressing the government to fulfill its commitment to modest CPP enhancements.

Mandatory retirement is on its way out the door

Prior to the 2011 Federal Elections, CARP asked the Government to remove mandatory retirement provisions from federally regulated industries and it became one of Government’s election promises. We watched government follow through on its promise with Bill C-13, which passed Royal Assent on December 15, 2011 and is expected to take effect this December.

Progress in the fight against Elder Abuse

CARP also insisted on greater protection against elder abuse and pressed government to take action. In response, Bill C-36 was introduced in the spring, however it is been slow-moving as it is still currently in the stage of Second Reading and Referral to the Committee in the House of Commons. As it continues to progress, CARP will closely monitor its development and report back to you.

OAS Campaign is not over yet

Lastly, one of largest campaign this year was against the proposed changes to OAS. Despite CARP’s resistance, the Federal Government used its majority to pass its Omnibus Budget Implementation Bill C-38, increasing OAS eligibility age from 65 to 67. These changes will not be in effect until 2023 and until then, CARP will continue with its campaign to press for the repeal of the OAS provisions.