Finance Ministers from across the country are meeting on P-E-I trying to reach an agreement on changing the Canada Pension Plan amid concern most of us aren't putting away enough money for retirement. The President of CUPE New Brunswick, Danny Legere tells CHSJ News both employers and employees will have to contribute more. Legere goes on to say asking people to set aside money for RRSP's is easier said than done with mandy living pay cheque to pay cheque. Federal Finance Minister Jim Flaherty wants to make it easier for financial institutions to offer pension plans to cover self-employed Canadians and others without corporate plans. He's also proposing modest increases in Canada Pension Plan payroll premiums that would be phased in. Canadian Labour Congress president Ken Georgetti has travelled to the P-E-I meeting to try to persuade the ministers to increase premiums enough to double benefits. Flaherty doubts whether that will have much support around the table.
