The CFIB's Thinking is Upside Down

Pensions should be improved for all - not dragged down for public sector workers.

The Canadian Federation of Independent Business (CFIB) has criticized pensions received by public sector workers as being too generous. The Canadian Labour Congress (CLC) calls on the CFIB to rethink its conclusions on the right of public employees to the pensions they work hard for and contribute into, so in their older years they can enjoy dignity and economic security.

"The CFIB's thinking is upside down and their so-called study on pensions identify the wrong problems," explains Ken Georgetti, president of the Canadian Labour Congress. "Instead of looking for a rising tide that raises all boats, the CFIB is trying to sink the modest middle-class prospects that public employees have worked hard to achieve."

Georgetti went on to point out that with better pensions, "more pensioners could buy goods and services of small to medium employers, who form a crucial backbone of Canada’s economy.

"Let's work together on a strategy that could offer decent pension coverage for small to medium employers. There are plenty of ideas worth kicking around. One is to demand far better regulation of personal savings accounts like Canadian RRSPs. We should lobby Parliament together to regulate our financial services industry better, so hard-working Canadians retain more of their retirement money.

"(Another would be) a voluntary employer/employee supplement to the Canada Pension Plan. Small to medium-sized employers without the resources to run their own pensions could pay a modest sum to CPP, and the workers could do likewise. They could reap the benefits of Canada's own Rock of Gibraltar.

"In a shrinking labour market, this could do wonders for employee retention for CFIB members. The future of Canada's retirement security lies in our hands. Let's put aside the ideological battle-axes, and consider policy that moves working Canadians forward together."