PSAC calls for Liberal government to be held accountable for pension attack on federal workers

The PSAC launches national pension campaign to urge the Trudeau government to respect workers and keep its hands off pensions.

The Liberal government’s plan to raid $9.3 billion from the federal public service pension surplus is a betrayal of Canada’s public service workers and sets the stage for other attacks on the pension security of millions of workers in Canada.

“This is a betrayal of trust,” said Sharon DeSousa, National President of PSAC. “Workers and the government contribute equally to this pension fund, but now the government is taking a break while workers are left to shoulder the burden.”

This reckless decision jeopardizes the retirement security of over 700,000 federal public service workers, retirees and thousands of territorial government employees.

The government’s pension scoop sets a dangerous precedent for millions of other workers across Canada, one that could pave the way for private and public employers alike to raid their own employees’ pension plans. This is more than a fight for public sector workers – a fight for everyone who believes in fairness, accountability and the retirement security of workers.

“If the federal government – the largest employer in the country – can raid its own workers’ pensions, what’s to stop other employers from doing the same?” said DeSousa.

It’s not too late for the Liberal government to do the right thing. PSAC has proposed three fair and reasonable solutions to address the pension surplus while protecting retirement security:

1. Reverse the Two-Tier System: Reverse the two-tier system introduced by the Harper government in 2012 Under the Harper changes, federal workers who started their jobs on or after January 1, 2013 must work five years longer to reach full retirement. This inequality is fundamentally unjust.
2. Equitable Retirement Options for Frontline Workers: Follow through on the government’s commitment to provide equitable retirement benefits for frontline public safety workers.
3. Suspend Employee Contributions: If the government gives itself a contribution holiday, workers who equally pay into the pension plan should get one too, ensuring fairness and equity.

“This isn’t just about pensions; it’s about fairness, accountability, and doing the right thing for the workers who serve Canada every day,” said DeSousa.

Visit StopPensionTheft.ca for more information about the fight for fair pensions and a secure future for workers.

This article was first posted on the PSAC website.