A coalition of Quebec organizations that represent retired workers has released a "manifesto" to raise awareness about post-retirement poverty in the hopes the winner of the Oct. 19 federal election makes the issue a priority.
- Early retirement leaves some Canadians cash strapped
- Pension funds, retirement savers warned they face lower returns
The coalition, comprised of union and community groups, says too many people have a hard time making ends meet after retirement.
"Everybody always thinks that when you retire, you have a good pension," said Louisette Hinton, vice-president of the Congress of Union Retirees of Canada, said Tuesday.
"Finally, we find that pensions are so low that many people are under $30,000 a year or even $20,000 a year."
Hinton said the situation is particularly dire for retired women, who have 65 per cent less revenue on average than retired men.
The coalition wants to see the federal Guaranteed Income Supplement increased by 15 per cent immediately. It also wants enrolment to be automatic.
It also wants to see Quebec bring down the retirement age back to 65 from 67. Eventually, it wants retirement age lowered to 60.
The coalition hopes that by grouping together, it will put more pressure on the provincial and federal governments to make changes to pension laws.