-- CTF Blasts Chief Acutary's Dismissal, Repeats Call For CPP Reform --

OTTAWA: The Canadian Taxpayers Federation (CTF) has expressed shock and disappointment over the firing of Bernard Dussault, Chief Actuary of the Canada Pension Plan (CPP). The CTF also supports Mr. Dussault's grievance in an effort to win his job back.

"Mr. Dussault's work was exemplary in revealing the bankrupt state of the CPP. His actuarial acumen, professional conduct and dedication to his job were second to none," stated CTF federal director Walter Robinson. "His sudden dismissal at this critical time in the preparation of the latest actuarial report on the CPP raises many disturbing questions."

An actuarial report on the state of CPP finances is due out this December. Rumours abound that Mr. Dussault was going to recommend higher CPP premiums to account for new assumptions on inflation and less than encouraging demographic trends.

"We believe that political imperatives have derailed the career and maligned the reputation of an impartial, and highly respected, public servant," added Robinson. "For OSFI (Office of the Superintendent of Financial Institutions) officials to deny that this is a political decision simply raises more questions: where there's smoke, there's usually fire."

The CTF has reiterated it's call for the termination of the CPP in favour of Mandatory Retirement Savings Plans for Canadians to better meet the retirement needs of all generations.

"If he (Dussault) was going to recommend further increases in CPP premiums, it would have been a critical blow to Paul Martin and Pierre Pettigrew after they assured us that CPP premiums would not rise above 9.9%," Robinson said. "But we know better. In 1966, CPP architects stated that premiums would never rise above 5.25%, only reaching 5.1% by 2025. Today we're at 6% and skyrocketing toward 9.9%, all in a vein effort to prop up an unsustainable, fraudulent pyramid scheme."

"Polls show that 66% of Canadians believe the CPP will not be there for them when they retire. Real pension reform is not about ideology, it's about arithmetic. The government's numbers don't add up. Mr. Dussault's report would have revealed the futile nature of further CPP tax grabs, so he was fired. Politics has once again taken precedence over the needs of future pensioners. It's pathetic and immoral," Robinson concluded.