Mr. Speaker, my final petition is signed by 724 residents of Saskatchewan, again from widely separated communities.
The federal and provincial governments are poised to raise the Canada pension plan's contribution rate from 5.85% to 9.9%, a $10 billion tax increase or $1,380 per year for the average taxpayer and his or her employer. Canadians cannot afford such a massive tax increase to support a pension plan that is unsustainable and will probably lead to further tax increases. A mandatory defined contribution, fully funded, privately managed plan or mandatory retirement savings plan would address the deficiencies of the CPP and negate the necessity of perpetual tax increases.
Therefore the petitioners request that parliament reject any further CPP premium increases and enact legislation that would abolish the CPP and replace it with an MRSP.