Despite opposition from the majority of speakers heard in the parliamentary committee, Treasury Secretary Eric Girard maintains that “it might be optimal to move the minimum age for eligibility to the Quebec Pension Plan (RRQ) from 60 to 62”. Year old.
• Also read: Quebec Pension Plan: A majority of SMEs are in favor of raising the eligibility age
• Also read: Retirement age: nothing like France, assures Legault
Along with a handful of actuaries, most of the experts who have marched before members of the Public Finance Committee since last Wednesday have testified against the postponement of the age at which Quebecers can receive their QPP pension, with a life sentence.
At the center of concern for unions, the Conseil du patronat and FADOQ, to name a few, is the impact such a change could have on workers whose work is more physically demanding, among others.
The PLQ closes the door
This position is also shared by the three opposition parties, even the Quebec Liberal Party, which at the start of the work thought it better to consult before making a decision.
“Clearly, in the Quebec Liberal Party, we are closing the door on changing the voting age from 60 to 62. Our tired workers must be able to retire at that age of 60 or 61,” said interim Liberal leader Marc Tanguay.
“We think of the cashier, we think of construction workers, plumbers who are tired and then want to retire at 60 so as not to take away that option at 60, 61,” Mr Tanguay added to journalists.
Financial security
“Even in these cases, however, it may be optimal to postpone the pension plan until age 62,” Minister Girard reiterated during a scuffle with the press.
“Just to be very specific, if we were to postpone it would benefit pensioners who would get 23% more money,” he added.
Currently, Quebecers who retire at age 60 will have their QPP pension reduced by 36%. The retirement age entitled to 100% remains at 65 and François Legault assured that this will not change.
The goal of the reform proposed by Retraite Québec “is the financial health of Quebecers,” reiterated the minister, who has not yet announced whether he will implement the proposed changes.
Death benefit stagnates
The last consultation day was also an opportunity for the Corporation des thanatologues du Québec (CTQ) to point out that the $2,500 death benefit paid by the RRQ has not been increased since 1997. She used to be even more generous.
“It’s one of the few benefits that hasn’t been verified or indexed for so long. During that time, average funeral expenses have increased from an average of $4,900 to an average of $7,500,” said CTQ President Jonathan Goyer.
“$2,500 is clearly insufficient to respect the dignity of the deceased and to support the grief of close family members, even less when the deceased was a lifelong contributor to the Régime des Rentes du Québec,” argues the CTQ in its brief calling for the death benefit to be increased to $5,800. This change would cost approximately $179 million, not including indexing.
“This is an extremely expensive proposal,” commented Minister Girard, who was visibly reluctant to follow up on the recommendation.
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