New Democrats announce plan to strengthen pensions, retirement security

After years of Liberal and Conservative inaction on pensions, New Democrat Leader Jack Layton says it’s time to improve retirement security for Canadians once and for all, and New Democrats have the plan to do it.

“After five years, Stephen Harper has failed to improve retirement security for Canadians,” Layton said.

Charlie Angus says, in this election, with one third of our workforce without any retirement savings at all, we are asking Canadians who they trust to fight for the pensions your family relies on.

Layton will, in collaboration with the provinces and territories, gradually double the Canada and Quebec Pension Plans, making it possible for Canadians to top up their public pension with personal savings. New Democrats will also amend federal bankruptcy legislation to make pensioners and workers on long-term disability the priority creditors when their employers declare bankruptcy, and they’ll invest an additional $700 million annually in the federal Guaranteed Income Supplement – lifting every Canadian senior out of poverty.