Thank you.
We would also like to see all forms of premium holidays abolished. I know that Parliament has already tackled this. In my view, there should be no ceiling on contributions.
Furthermore, there is a need to increase the maximum pensionable earnings, in addition to doubling the defined benefit rate of replacement income for everyone, by raising it from 25% to 50%; to raise the ceiling from $46,300 in 2009 to $62,000, and to index it on a yearly basis so that there can be an actual doubling of benefits for more workers. COPE is opposed to a system of voluntary contributions as a way of improving CPP.
In conclusion, COPE believes that the Canadian government must act on an urgent basis to adopt this important series of major changes, rather than simply bringing in changes on a piecemeal basis. It is by introducing these major changes that we will succeed in providing adequate protection to all Canadian citizens, leaving no one behind.
Thank you for your attention.