Labour Day Message 2010
Over the past twelve months, working people did something they have not done for a very long time. They changed their government's mind.
Last year, on Labour Day, unions called for action on retirement security. At the time, the economic crisis and recession had left people's savings in tatters. Pension plans were under attack. RRSPs were exposed as inadequate for the vast majority of working people. Everything pointed to a looming crisis – Canadians were not saving enough to avoid poverty in retirement.
The solution was simple. Almost every working person in the country already has access to the safest, most secure and guaranteed retirement savings plan in the world – the Canada Pension Plan. Throughout the economic crisis, nobody's CPP cheque decreased and nobody's CPP savings disappeared. But, the CPP is capped and only allows people to save enough to cover a maximum of 25% of the average wage. That's not enough for anyone to live on today.
The Canadian Labour Congress launched a campaign to expand the CPP and help everyone save more - enough to cover the basics when they retire. We asked union members to join our campaign and encouraged them to talk to their friends and neighbours. They did. (Did they ever!)