Tag Archives: Canadian Federation of Independent Business

Is CFIB willing to shoulder health costs resulting from prescription for more inequality?

At a time when the Canadian Federation of Independent Business (CFIB) is advocating an end to “defined benefit” (DB) pensions, the latest retirement index suggests that the alternate “defined contribution” (DC) pensions are struggling and will not produce the kind of income seniors need in their retirement years. DC plans on average presently replace 22.3 per cent of pre-retirement income. How many of us could successfully live our retirement years off less than a quarter of what we presently earn?

By contrast, a typical DB plan will replace between 50 and 70 per cent of pre-retirement income. Seventy per cent is considered by financial planners to be the target for Canadians wishing to maintain their existing lifestyle. That’s a big gap between 22.3 per cent and 70 per cent.

The CFIB believes making it more difficult for public sector workers to retire is the solution rather than improving retirement income for the two-thirds of private sector workers without a workplace plan. This is idiotic.

Unions have advocated for improvements in the DB Canada Pension Plan to better assist all workers, although the CFIB also opposes this. The CFIB would also have us do away with early retirement.

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Education and experience account for higher paid public sector jobs

The Fraser Institute and the Canadian Federation of Independent Business having been ratcheting up the war on public sector workers, portraying hospital workers, teachers and other public sector workers as fat cats who are overpaid compared to their private sector counterparts.

Of course, you won’t find anyone in the public sector who earns the kinds of salaries bank executives have been piling up, most major Canadian bank CEOs skyward of $10 million per year.

Free to be as political as they like (no attacks from the Harper government on the Fraser Institute’s charitable status), they use their media-supported bully pulpit to regularly demonize the public sector.

Now a new report from the Centre for Spatial Economics (C4SE) calls into question the assumptions in these attacks.

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