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Human Resources committee I would have to confirm it in the report, but I believe his projection was that the difference 60 or 70 years from now would be about 1% of GDP in expenditure.
October 5th, 2017Committee meeting
Mark Janson
Human Resources committee Regarding the price-based system, as I said, the chief actuary is predicting prices to increase by 2% a year, and the wage measure would be about 3% a year. Essentially, the OAS costs are increasing by 2% a year now; they would increase by 3%. In one year, it's not going to mak
October 5th, 2017Committee meeting
Mark Janson
Human Resources committee Yes. In terms of poverty, you need a pension system that's working for most Canadians. In terms of our pension system, we've put a lot of our eggs in Canada in the workplace pension basket. We have comparatively a pretty small public pension system. When you look at other equival
October 5th, 2017Committee meeting
Mark Janson
October 5th, 2017Committee meeting
Mark Janson
Human Resources committee There is a whole lot of room in the CPP where we still could go. The replacement rate of CPP was set at 25% income replacement back in 1967, which was 50 years ago, when the program started, and it's still at 25% today. We were calling for that to be moved up to 50%. It is moving
October 5th, 2017Committee meeting
Mark Janson
Human Resources committee Yes. It would be a simple amendment. It's a fiscal cost to do so, to have the program grow at the speed of the economy rather than the speed of prices. The actuaries who look at the OAS and GIS system show, and they've been saying the same thing for decades, that in the long run,
October 5th, 2017Committee meeting
Mark Janson
Human Resources committee Thank you, Chair, and thank you to the committee for having me today. The Canadian Union of Public Employees is the largest trade union in the country. We represent 650,000 workers across the country, mostly in the public sector. Pensions and retirement security are issues we ta
October 5th, 2017Committee meeting
Mark Janson
Finance committee It's a great question. To even know how much you're going to receive from CPP, you have to go on Service Canada and create a log-in to get your CPP statement. It's not something that's automatically sent to Canadians every year. We automatically see our deductions from our payche
November 15th, 2016Committee meeting
Mark Janson
Finance committee Yes, we have lots of municipal members.
November 15th, 2016Committee meeting
Mark Janson
Finance committee I believe so, yes.
November 15th, 2016Committee meeting
Mark Janson
Finance committee Under the CPP legislation...?
November 15th, 2016Committee meeting
Mark Janson
Finance committee I would agree with the comments of the CLC on this, that the contribution rate increase is quite modest for most municipal workers. I'd say for the vast majority of municipal workers you're looking at 1% of payroll on the employer's side. That's with the notice period of a couple
November 15th, 2016Committee meeting
Mark Janson
Finance committee We think that's well within the realm of affordability.
November 15th, 2016Committee meeting
Mark Janson
Finance committee This is just one line item of a very complicated municipal budget. What we expect to hear from employers is that they're going to be increasing their contributions. We're going to hear about that at bargaining tables and that's going to be part of a complicated bargaining structu
November 15th, 2016Committee meeting
Mark Janson
Finance committee No, I'm not saying that. I'm just saying we expect to be hearing that. Our position is going to be that the CPP increases are modest and affordable. We have a seven-year to nine-year period to prepare for them. We can find 1% in a municipal budget to make that happen.
November 15th, 2016Committee meeting
Mark Janson