97.1 Retaining The Canada Pension Plan
Whereas, Canadians in the paid labour force have paid into the CPP for many years and have come to rely upon it as an important part of their retirement income; and
Whereas, The economic well-being of people in old age is largely shaped by their participation in the labour force throughout their working lifetime; and
Whereas, The current economic reality is that a large proportion of the population is employed part-time, on short-term contracts and/or in the service sector and is unlikely to be included in employer-sponsored pension plans; and
Whereas, The maintenance of the CPP is therefore of vital importance to both younger and older workers, to low and middle-income wage earners, and especially to women because of their often irregular patterns of work; and
Whereas, The Canada Pension Plan has been under review and draft legislation was tabled in the House of Commons on February 14, 1997, on proposed changes to the plan; therefore, be it
Resolved, That in the spirit of the draft legislation, tabled February 14, 1997, the National Council of Women of Canada urge the Government of Canada:
- To retain the Canada Pension Plan, with full indexation and adjustments to ensure its viability and financial stability;
- To ensure equity between generations, redesign the CPP tax credit on the income tax return, by making the credit larger for younger workers, which would balance the unfairness between generations yet would not affect the size and health of the CPP fund, the change occurring only in the tax system;
- To continue implementing measures that take into account the work patterns of women, including the “child-rearing drop-out” provision; and
- To invest CPP pension funds in higher-yield investments, consistent with the need for the financial security of the fund.