Fair Pensions for All Canadians
When Canadians retire they deserve fair and adequate pensions that allow them to live with dignity. Canada’s pension system is based on three pillars:
Together these pillars make up the Canadian pension system, but in recent years that system has fallen short of providing retirement security for all Canadians.
The global financial crisis undermined the value of many pensions and retirement savings schemes. More than 11 million Canadian workers, 68% of the workforce, have no workplace pension. Eight million have neither a private pension plan nor registered retirement savings plans. Canadian pension analyst James Pierlot estimates that, by 2030, "two-thirds of Canadian retirees will not have enough retirement income (and) are looking at relative poverty" (Source: AFL).
The MFL and the Canadian labour movement are fighting for a pension system that ensures retirement security for everyone. Find out more about our action on pensions.
You can find more pension information from these useful government resources: