March 11, 1965 (26th Parliament, 2nd Session)

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Charles Benjamin Howard

Mr. Coward:

Oh yes, it would be very imprudent to pull out of a pension plan just because we will have a new government plan. Most people will want more than the government plans will provide. The government plan provides a basic floor and pensions in addition through pension plans and through private saving will be very necessary; and I would strongly recommend that you should consider very carefully before you consider discontinuing a plan or pulling out your money.
There has been a good deal said in the House of Commons on the problem of integration of the Canada pension plan with other pension plans, over a long period of time. I can remember back as far as November 4, when the resolution was introduced into the house and I made comments in this regard. It is not within the legislative power of the federal government to tell individual firms in this country how they and their employees
Canada Pension Plan
will work in integrating their pension plans with the Canada pension plan. It may be that where no pension plan exists, or where the pension benefits are small, the Canada pension plan will be simply decked on top of the existing benefits in the pension plans that exist.

Topic:   PENSIONS
Subtopic:   PROVISION FOR ESTABLISHMENT OF CONTRIBUTORY PROGRAM
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