National

Until Now, Tories Had Little Interest In CPP Expansion For Nine Years: NDP

Darpan News Desk The Canadian Press, 27 May, 2015 10:54 AM

OTTAWA — NDP Leader Tom Mulcair says he doesn't expect the federal Conservatives to ever actually go ahead with a voluntary expansion of the Canada Pension Plan.

The Tories say they will consult experts about giving people the option to pump more of their earnings into the CPP as way to boost their retirement savings.

Mulcair calls the about-face a "last-minute conversion" that's aimed at shoring up political support, but he doesn't think it will ever see the light of day, considering they've opposed the idea for nearly 10 years.

The NDP leader does acknowledge, however, that former finance minister Jim Flaherty had shown some openness to the idea of expanding the CPP.

On Tuesday, Finance Minister Joe Oliver said the government will consult experts and stakeholders this summer as it looks for ways to allow voluntary CPP contributions.

Oliver said Canadians should have choices when it comes to retirement savings, rather than be forced to make mandatory payments.

The New Democrats have long supported mandatory expansion of the CPP to help Canadians sock away more cash for retirement.

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