Réseau FADOQ wants to maintain the status quo—current 60 years old—concerning eligibility for early retirement benefits under the Québec Pension Plan (QPP).
As we mentioned in our presentation at the public consultation on the QPP on Wednesday, February 8, and in our brief tabled at the National Assembly, we disagree with the consultation document’s proposal to raise the minimum age of eligibility for QPP benefits from 60 to 62. We are also opposed to the idea of increasing the penalties for receiving the pension before 65.
“Réseau FADOQ believes that the Québec government should not proceed with these two measures because they would disproportionately affect people who cannot continue to work despite being willing to do so, especially people who have had health problems, an accident, diminished capacity, or caregiving responsibilities,” said Gisèle Tassé-Goodman, president of Réseau FADOQ.
In addition, the largest seniors’ organization in Québec wishes to maintain the current automatic funding adjustment mechanism for the QPP basic plan should an unfavourable situation arise. In the event of problems with the Plan, the mechanism provides for a possible increase in contributions, a measure that shares responsibility for rectifying the Plan’s financial situation among employers and employees.
The Québec government’s consultation document proposes to initiate discussion on this point. The mention in a government document of concepts such as freezing indexation, increasing the retirement age or reducing benefits is likely to raise eyebrows among both current and future pensioners.
Réseau FADOQ obviously hopes that the public consultation on the QPP will lead to beneficial changes for all and that workers’ diverse situations will be taken into consideration in this consultative context.
You can watch some of the highlights of our appearance at the public consultation on the Québec Pension Plan in the video below.