VANCOUVER, BC: The Canadian Taxpayers Federation (CTF) is applauding the Pooled Retirement Pension Plan (PRPP) legislation introduced in the House of Commons today by the Harper Government.
“This new pension legislation is good for Canadians planning for retirement and for taxpayers,” said CTF Federal and Ontario Director, Gregory Thomas. “Canadians will be able to save more for retirement with this new pension plan. People saving for retirement will enjoy lower costs and more flexibility throughout their working lives.”
The CTF is calling on the Harper government to add new government employees and MPs to the PRPP as well.
“Taxpayers are facing down roughly $200 billion in unfunded pension liabilities for federal government employees alone,” continued Thomas. “Now is the time to place all new bureaucrat hires and even MPs into the PRPP plan and end entry into the defined-benefit pension plan that is currently in place.”
“Moreover, MPs who are contributing a fraction of what taxpayers are to their own pensions should be added to the mix,” stated Thomas.
“Beware those who offer Canadians a false promise of big, fatter, government pension cheques,” warned Thomas. “They never talk about the massive payroll tax-hikes they would need to pay for such a scheme. You only need to look to Greece where pensions have been cut by 20 per cent. Big government pensions and high taxes go hand-in-hand. You can’t have one without the other.”
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