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Polling data contradict CFIB claims that small businesses oppose Canada Pension Plan reform
Toronto (23 June 2010) – More than two-thirds of small business owners believe good pensions are good for business says a poll released last week by the Canadian Labour Congress (CLC) and the Ontario Federation of Labour (OFL).
The poll, commissioned jointly by the OFL and CLC, was released on June 15 the same day federal Finance Minister Jim Flaherty meets with provincial and territorial finance ministers in Prince Edward Island to discuss expanding the Canada Pension Plan (CPP).
According to the poll, nearly two-thirds of small business owners believe that a public pension system like the CPP would improve competitiveness, providing relief from the costly, cumbersome and time-consuming process of administering small-scale private plans.
The polling data directly contradicts claims made by Catherine Swift, CEO of
the Canadian Federation of Independent Businesses. It shows that a majority of small business owners who also say the CFIB speaks for them, support raising premiums from about five percent (5%) of salary to about eight percent (8%) over seven years.
"Far from being 'outrageous' as claimed by Catherine Swift, the majority of her members favour doubling CPP benefits for future retirees," said OFL President Syd Ryan. "Clearly, small business owners support practical, affordable solutions to the looming pension crisis."
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