The federal government in Canada recently ‘stalled’ on implementing much needed changes within the Social Security/Pension Plan for seniors. Currently, the average retiree receives a whooping $12,000 a year (even with Old Age Security and an Income Supplement, the total amount comes to $16,000). However most, at least half, do not have any other pension and live in an economy where it is near impossible to save for retirement.
Are they kidding? This is how you treat the backbone of society? These men and women worked hard their whole lives, paid taxes their whole lives (funded those hefty bonuses paid to the politicians they were trusting), funded the schools, the hospitals, the roads and so much more. They are now retired and would like some rest and peace, instead many are faced with poverty, more financial struggle, stress and anxiety. Not to mention they are having a difficult time getting around, as in the physical conditions that come with aging, many live alone and face these physical struggles and emotional fear by themselves.
Ontario Finance Minister, Charles Sousa, said Ontario believes a change is urgently needed now, “Over 50 per cent of Ontarians do not have a pension plan. They’re going to be fully reliant on CPP (Canada Pension Plan) to provide for them and at $12,000 a year, that is insufficient,” he told CBC News.
With a Living Income Guarantee, all retired citizens would receive a guaranteed monthly living. In fact this would be part of the normal economy, where all human beings are entitled a living income from birth to death. This would be an amount sufficient to cover all basic needs: food, housing, transportation, medical needs, etc.
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