The Canadian Labour Congress (CLC) has launched a radio campaign to promote improvements to the Canada Pension Plan (CPP). The ads will be broadcast until the end of February in Vancouver, Victoria, Regina, Saskatoon, Winnipeg, Toronto, Ottawa, Ontario’s Kitchener, London and Windsor, and Charlottetown.
"We are doing this deliberately during RRSP season to make the point that an improved CPP is a better way for Canadians to save for retirement than pushing them to buy more RRSPs or other private sector investments," said Ken Georgetti, president of CLC, which represents 3.2 million Canadian workers.
Most provincial governments and pension experts agree expanding the CPP is the best way to guarantee retirement security for Canadians, he said.
"But the federal government thinks it knows better. It wants to start new group RRSPs run by the financial industry. That will be good for the banks and insurance companies and bad for the rest of us," said Georgetti. "They will charge us fat fees to manage our money. That costs us a lot and leaves us with less when we retire. It's a ripoff.”