Flaherty's private pension scheme "a Christmas present to Corporate Canada"

OTTAWA, Dec. 17 /CNW/ - "This is a Christmas gift to the same folks who caused the financial crisis," Dave Coles says of the Conservative government's plans to reject improvements to CPP in favour of a privately-run savings plan.

"It's a Christmas present to Corporate Canada, adds Coles, president of the Communications, Energy and Paperworkers Union of Canada, the union which represents thousands of forestry workers who have had their pension plans cut by up to 40% as their employers face bankruptcy.

"Canadians do not need an umpteenth version of RRSPs and private vehicles where administration fees are double or triple those for the CPP.

"They need economic security and the CPP has proven time and time again that it is the most efficient way to provide it to all Canadians.

"The support for Jim Flaherty's proposal from the Canadian Banking Association and the Canadian Federation of Independent Business clearly demonstrates who would win from this proposal," says Coles.

CEP is the largest union in several key sectors of Canada's economy, including forestry, energy, telecommunications and media.

For further information:

Dave Coles, 613-299-5628