Seniors are dedicated voters and political parties are courting their support with promises to enhance pensions.

ELECTION 2015: Battle over pensions, pay stubs

Expanding Canada Pension Plan or more voluntary savings in tax-free savings accounts are among choices for voters

Pensions and payroll deductions to finance them are a key battleground for the Oct. 19 federal election.

Liberal leader Justin Trudeau sparked debate by endorsing the Ontario government’s plan to launch a provincial version of the Canada Pension Plan, with mandatory payroll deductions to finance it.

The Liberal Party platform says only that a Trudeau government “will work with the provinces and territories, workers, employers and retiree organizations to enhance the Canada Pension Plan.”

NDP leader Thomas Mulcair has made a similar pledge to expand the CPP, noting that Ontario and Prince Edward Island have already put forward pension proposals. He plans to convene a meeting with provinces within six months of forming a government. (NDP platform here.)

Conservative leader Stephen Harper has rejected mandatory expansion, but has said he would consider a system of voluntary additional contributions to CPP. The Conservatives have promoted an increase in tax-free savings account limits to $10,000 per year and income splitting for married seniors. (Conservative platform here.)

Conservative Finance Minister Joe Oliver said for an employee earning $60,000 a year, the Ontario pension would reduce take-home pay by $1,000 a year, and similar payments by employers would lead to reduced employment.

The Green Party platform also promises to expand the CPP, but provides no details.

Trudeau and Mulcair have both denied Harper’s allegation that they plan to eliminate pension income splitting. Both have also vowed to cancel the Conservative plan to raise the eligibility age for Old Age Security payments from 65 to 67, which would not take full effect until 2029.

OAS is not a pension plan, but a taxpayer-funded program that pays $565 per month for all seniors, in addition to the Guaranteed Income Supplement (GIS) that provides up to $766 per month to qualifying low-income seniors. OAS is progressively taxed back for seniors whose combined income from other source exceeds $72,809.

In an interview last week, Harper said his government has provided the biggest increase in the GIS in 25 years, and defended the move to phase in a higher eligibility age for OAS, starting in 2023.

“We’re doing, frankly, what most other Western democratic countries do, make adjustments based on demographics,” Harper said.


Just Posted

Latitude 48 Paddling Club races through Victoria waters

Local team clinched victory in Nanaimo to kick off season that will see them compete in Hawaii

Greater Victoria police busy with St. Patrick’s Day calls

Victoria police respond to 82 calls for service

Songhees Wellness Centre event immersed in Indigenous cuisine and culture

Camosun and Songhees cook together for reconciliation while fundraising for student scholarship fund at March 23 event

Artists craft Souper Bowls in Cedar Hill studio

Souper Bowls of Hope supports urban youth

Royals gear up for WHL playoffs after suffering season-worst loss

Victoria has a solid 7-3 record this year against opening-round opponent Vancouver

Victoria airport terminal expansion under way

Videos posted showing work in progress over the next 27 months

Braves beat Buccaneers in Game 7 to advance to finals

Saanich wins 5-2 on Sunday in Nanaimo, will now face Campbell River

Anti-pipeline protestors block Kinder Morgan tanker near Seattle

Protest was spurred on by the 28 anti-Kinder Morgan activists arrested in Burnaby

Mount Douglas Mathletes enjoying success by the numbers

Saanich Grade 9s walk away with top five spots in Island math competition

LETTER: Lowered voting age would engage youth in political process

Saanich high school student supports giving a vote to 16-year-olds

World Cups soccer festival coming to Lochside Park

Victoria’s long running youth soccer festival, the Peninsula Co-op World Cups Soccer… Continue reading

Notorious Russian troll farm also took swipes at Canadian targets

Targets included oil infrastructure and Prime Minister Justin Trudeau.

Cirque du Soleil aerialist dies after fall during Florida show

Longtime performer fell while performing in VOLTA

Canadian comic Mike MacDonald dies at 63

Ottawa-born comedian had performed on David Letterman

Most Read