Federal Retirees appeared before the Standing Committee on the Status of Women to highlight retirement security and the financial challenges facing many aging women.
Federal Retirees’ board chair, Gisèle Tassé-Goodman appeared before the House of Commons Standing Committee on the Status of Women earlier this month to highlight the importance of strong federal retirement income programs and measures to address financial vulnerability among aging women.
Tassé-Goodman underscored the association’s call to ensure retirement income supports such as OAS, GIS and CPP/QPP provide basic dignity and financial security, so that no Canadian is left unable to afford everyday necessities. She also outlined the unique circumstances that leave older women more exposed to inequities, such as lower lifetime earnings, part-time work, career interruptions for caregiving, among other factors.
Drawing on new findings from a study conducted by the University of Ottawa LIFE Research Institute in collaboration with Federal Retirees, Tassé-Goodman presented data to the committee showing that 43 per cent of solo women retirees struggle to afford the basics of life, with nearly one in four unable to afford food, rent or transportation in the last six months.
Tassé-Goodman emphasized that a whole-of-government approach is crucial when making public policy decisions, particularly those involving housing, community infrastructure and income-support programs. She said this approach should be backed by an equity-informed, comprehensive long-term plan that supports quality of life in retirement and healthy aging for all Canadians.
Throughout the discussion, Federal Retirees reinforced its long-standing advocacy for retirement security and emphasized the need to safeguard and improve public pensions, encourage innovation in the defined-benefit space and protect workplace pensions.