Hard to rely solely on private savings for retirement
▪
Not many people can afford to save on their own from retirement
●
Many live paycheck to paycheck
4. Should the CPP be strengthened?
●
Pay a % of income, a threshold
●
Increasing the % employees pay (2020)
●
Some argue that better way to save is public savings
o
But, don’t mention the fees that come with this
o
Investment industry would decrease
5. Should retirement age be raised?
●
67 instead of 65
●
Not a general requirement law to retire at 65
●
Age that you can collect a full pension
●
Has been raised to 67 in US, Britain: raised to 66, France: 67
●
Arguments:
o
Encourage people to stay in the workplace longer
o
Need to generate more tax revenue
o
Could increase unemployment (more difficult for those looking for jobs)
o
Fewer years for living without working
o
Harder for lower income workers (tend to live shorter lives)
SUMMARY:
●
Retirement: leave the paid work income, with a modern income and live life
●
Unions first won pensions, paved the way
●
Capitalism: forces people to work later into their lives
TUESDAY, NOVEMBER 26
th
:
Working-Class Responses & Alternatives
1. What are unions?
48
o
Most important interests:
▪
Wages, benefits, working conditions
●
Will sometimes go beyond this issue
o
Ex. CN workers, teachers in Chicago
●
There are some company unions too
o
CLAC - Christian Labour Association of Canada
2. Why do unions exist?
3. What do unions in Canada do?
▪
Length of contract varies
▪
Once bargained and ratified, how is it enforced?
●
Grievance Procedure – every collective agreement must have this
o
Complaint saying that the union representative believes the
employer has violated collective agreement
o
If deadlock, option to send grievance to arbitration, where
third party (arbitrator) hired to solve dispute (doesn’t have
to happen)
●
Connection between collective bargaining and strikes/lockouts
o
Most collective bargains reach a collective agreement without strikes/lockouts
o
Strike – effort by employers, do not come to work
▪
Wildcat strike – strike during term
o
