CANADA - The Canadian Union of Public Employees (CUPE) said it will lobby for an overhaul of the Canadian pension system, calling for mandatory pension participation, a national system of pension insurance, and expanding the mandate of the Canada Pension Plan.
CUPE national president Paul Moist said: "Across the country, too many working people are discovering that the pension plans they once thought were secure are anything but."
CUPE recommends that pensions be required as a condition of employment.
The union said in a release: "Stakeholders working together could also establish government regulated or owned plans, or large multi-employer plans."
Its new pension strategy also includes lobbying for national pension insurance.
The union also wants to expand the Canada Pension Plan to cover more workers, and to double CPP benefits.
The CPPIB is responsible for providing a replacement income of 25% of the national wage, but employees are responsible for building up the rest of their nest eggs though personal savings and company plans.
CUPE is not the only body calling for widespread pension reform in Canada.
In a speech in September, head of the CPPIB David Denison also said the government should create a supplementary mandatory pension plan, which could be managed by the CPPIB.
Denison also said the government should consider creating uniform federal and provincial regulations and regional defined contribution plans. (Global Pensions; September 18, 2009)
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