moved for leave to introduce Bill C-428, an act to amend the Canada Pension Plan (adjusted pension for persons with other income above the level at which the second percentage of income tax applies).
Mr. Speaker, one of the biggest issues affecting Canadians that the House has not dealt with is demographic impact upon our social programs.As our population ages, the demand that will be placed on social programs will make many of them unsustainable in the future.
One of those areas is the CPP. Bill C-428 would enable individuals to work after the age of 65 and collect a graded percentage of their CPP. In other words, at the age of 65 they would collect 40% of their CPP, at 66, 50%, and all the way up to 69, if they so choose to also work and earn money.
In other words, this would encourage people to stay in the workforce. It would encourage them to work and make money, but also would enable them to collect a percentage of that CPP. The benefits? Increasing our workforce and decreasing demands on our CPP, a win-win situation for all concerned.
(Motions deemed adopted, bill read the first time and printed)