Judy Sgro, MP

Worried about your pension… well you should be.

Worried about your pension… well you should be.

If you are one of the 4 million Canadians planning to retire in the next ten years, you might want to have a look in your wallet because it may soon be $30,000.00 lighter.

On January 26^th, while arrogantly scolding global leaders for being lavish and overly free with money, Stephen Harper signalled that the Conservative government could be poised to raise the age of eligibility for an Old Age Security Pension to 67.

Put another way, if you are planning to retire in the next few years, Stephen Harper says you need to do it with a much smaller household income.  That’s right, after spending $6 billion in giveaways to the largest corporations, $13 billion for new mega-prisons, and $30 billion for an untendered stealth fighter jet deal, Stephen Harper now says that Canadian seniors need to tighten their belts.  Imagine, Stephen Harper, the sixth highest paid political leader in the world (earning an annual salary of US$296,400.00) is telling Canadian seniors they need to work longer, save more, and be more frugal.  This “Harpocrisy” would be laughable if it was not so serious.

During his career, Stephen Harper has flirted with the notion of privatizing health care, he has written about his desire to build a protective wall around Alberta, and he has campaigned on his plan to eliminate the CPP.  In each of these past cases, the Canadian public immediately responded by reminding Mr. Harper that real leadership should not be about turning away from seniors or marginalized groups in society.  Today as the Conservatives propose yet another mean-spirited, short-sighted and hurtful policy move, I am again asking Canadians to get involved.  Tell your MP that slashing Old Age Security is not an option; sign your name on the petition to protect pensions (www.petition.liberal.ca/oas-old-age-security-pension-retirement-benefits-cuts); and tell your friends and family to get involved.

Together we can stop Stephen Harper’s dangerous plan to pick the pockets of soon-to-be seniors.

Hon. Judy Sgro, MP

Liberal Critic for Seniors and Pensions

A Pension for Change (Cutting Back on the Dignity of Seniors)

The House in now back in Session but, unlike the constant rhetoric prior to the last election, our nation’s legislators are relatively silent on the issue of real pension reform.  Put another way, I am deeply worried that pensions might become the next victim in a string of ideological cutbacks at the expense of the dignity of Canadian seniors.

Recently I read an article in the Globe and Mail dealing with Canadian pension plans and the fact that we are not saving enough money to cope with the increasing life spans of retirees.  This is exactly the message I have been trying to hit home with my White Paper on pension security and my Pension Bill of Rights.  Everyone seems to understand this – except the current government.

For their part, the Conservatives continue to tout the PRPPs scheme as the answer to the pension question.

Even if I ignored the Rotman Study, which found that PRPPs had failed most consumers in Australia, PRPPs are nothing but locked-in RRSPs.  Experts have told me that Canadians would face a number of problems if they join these plans:

1. They have to become investment experts to realize big returns;
2. Members bear the investment risk;
3. There is no ability to make up for bad years by making additional tax-deductible contributions;
4. There is no ability to pool risk;
5. There is no ability to move out of an underperforming PRPP into a performing one, or to one with better services;
6. Employers will be forced to create administrative systems to enrol members, if provinces make them mandatory, and then since both employers and members can opt out, incur costs for no reason; and
7. It is currently unclear whether homemakers would be able to contribute unless they receive employment income.

While the Conservatives are content to deliver platitudes to Canadian seniors the Liberal Party is committed in pushing for change and engaging pensioners and experts alike in an effort to ensure Canadian seniors retire in the comfort they deserve.  In my mind that means living out their retirement with a place to sleep, food in the fridge, and a little money to pass on to their grandkids.

Liberal Statement on Persons Day

OTTAWA – Liberal Critic for the Seniors, Pensions and the Status of Women, Hon. Judy Sgro, made the following statement today on Persons Day:
 
“More than eighty years ago, thanks to the perseverance and hard work of five remarkable women from Alberta  – Emily Murphy, Nellie McClung, Henrietta Muir Edwards, Irene Parlby, and Louise McKinney – Canadian women were declared “persons” under the law.  This was a seminal moment in our history because it enshrined into law the right of women to participate as full partners in our society.
 
Persons Day is an opportunity to celebrate this victory, and to reaffirm our commitment to achieving women’s full equality, both at home and abroad.”
 
Chair of the Liberal Women’s Caucus, and Critic for Aboriginal Affairs and Northern Development and Canadian Northern Economic Development Agency, Hon. Carolyn Bennett, added:
 
“While we have made great advances in the fight for women’s equality since the success of the Persons Case, there remains more to do – especially in the areas of empowering women in the developing world, increasing female representation in Parliament, and achieving pay equity.
 
Today and every day, the Liberal Party stands committed to working in Parliament to break down the barriers that continue to stand in the way of women’s achievement of full equality.”

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Contact:

Office of Hon. Judy Sgro
613-992-7774
 
Office of Hon. Carolyn Bennett
613-995-9666

Press Office
Office of the Liberal Leader 
613-947-5100

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