Hard to rely solely on private savings for retirement Not many people can

Hard to rely solely on private savings for retirement

This preview shows page 48 - 50 out of 53 pages.

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
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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
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