Governments must take action to strengthen the Canada Pension Plan

It’s time for federal, provincial and territorial governments to take concrete steps to strengthen the Canada Pension Plan (CPP), says Finance, Energy and Municipal Affairs Minister Wes Sheridan.

“Federal, provincial and territorial finance ministers have long agreed that too many Canadians are facing a future without adequate retirement income,” said Minister Sheridan. “I believe the single most important thing we can do to address this issue is to enhance the CPP.”

Minister Sheridan addressed the Canadian Labour Congress in Ottawa on Monday. He told the group that work must now be started to implement a modest, phased-in, fully-funded enhancement to the Canada Pension Plan.

“We need a comprehensive CPP,” said Minister Sheridan. “In the coming weeks, I will be sharing my ideas for an enhanced plan with my colleagues across the country. We need to get this important conversation moving forward.”