The President of the Canadian Labour Congress Hassan Yussuff is warning of a pension crisis with 60 per cent of people not having a workplace pension and RRSP’s not performing as well as touted. He’s against the shared risk pension model adopted in New Brunswick because it was understandable pension funds would take a big hit with the financial meltdown in 2008 but the situation has changed and the incomes of pension funds are doing a lot better. Yusseff says the shared risk plan creates more stress for retirees. The CLC estimates 1.6 million seniors collect the Guaranteed Income Supplement which means they have incomes not much above $15,000 a year. Yusseff made a stop in Saint John to speak to the New Brunswick Federation of Labour.
