Better pensions mean a stronger economy

FREDERICTON – The Canadian Federation of Independent Business’ (CFIB) call for de-indexing pension plans is a position that would lead to the impoverishment of the hundreds of thousands of Canadian workers.

“The position of the CFIB is neither new nor surprising. This organization’s goal is to bring down taxes, wages, pensions and all other benefits for all workers”, said CUPE NB President Daniel Légère.

“The CFIB call for pension plans to be de-indexed would mean that retirees would not receive any pension increase and would not be able to keep up for the rising cost of living. Also, for the workers, it would create a two-tier system where some people would have full indexation, others partial indexation, and others no-indexation.”

“De-indexing pension plans would also have a very negative impact on the Canadian Federation of Independent Business members and the economy. When people get less money and can’t keep up with the cost of goods, they spend less money. We just have to remember when the employment insurance benefits were reduced; many small and independent businesses had to close their doors in our province,’ said Légère.

“Instead of trying to lower the standard of living of the Canadian workers, the CFIB should work to protect benefits of workers. Better pension plans means a stronger economy,” concluded Daniel Légère.