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

Barriere Bottle Depot signage vandalized

Barriere RCMP say they are currently investigating two incidents of mischief against… Continue reading

TNRD director accuses Tiny House Warriors of harassment

Blue River director Stephen Quinn said the actions of the pipeline protesters need to be addressed

Convicted animal abuser to return to B.C. court May 21

Catherine Jessica Adams is facing a breach of probation charge

Drinking water advisory issued for infants in Barriere

District of Barriere advises water from the municipal system should not be used as drinking water for certain at risk populations, specifically bottle-fed infants due to levels of manganese

Special Council Meeting held May 13 in Barriere regarding current water situation

A Special Council Meeting of the District of Barriere Municipal Council was… Continue reading

‘Teams that win are tight’: B.C. Lions search for chemistry at training camp

The Lions added more than 50 new faces over the off-season, from coaching staff to key players

Growing wildfire prompts evacuation of High Level, Alta.

Chuckegg Creek fire has been burning for several day, but grew substantially Sunday

Top women’s hockey player Natalie Spooner coming to B.C.

Natalie Spooner special guest at annual Grindstone charity weekend in Kelowna

Take-home drug testing kits latest pilot to help curb B.C.’s overdose crisis

Researchers look to see if fentanyl testing could be a useful tool for those who use drugs alone

Facebook takes down anti-vaxxer page that used image of late Canadian girl

Facebook said that the social media company has disabled the anti-vaccination page

Search crews rescue kids, 6 and 7, stranded overnight on Coquitlam mountain

Father and two youngsters fall down a steep, treacherous cliff while hiking Burke Mountain

Raptors beat Bucks 118-112 in 2OT thriller

Leonard has 36 points as Toronto cuts Milwaukee’s series lead to 2-1

Rescue crews suspend search for Okanagan kayaker missing for three days

71-year-old Zygmunt Janiewicz was reported missing Friday

B.C. VIEWS: Reality of our plastic recycling routine exposed

Turns out dear old China wasn’t doing such a great job

Most Read