Issue 100 – 26, May 3, 2026
Did the Banker Just Trick You?
Last week, the government announced they will lower the Canada Pension Plan (CPP) contribution rate from 9.9% to 9.5%, starting in 2027. At first, this might sound like a small change, but it can have a big impact on your retirement money. The real problem is that this change mostly helps big companies and the government, not workers like you.
The CPP is a program that helps Canadians save money for retirement. Both workers and their bosses contribute to it. When the contribution rate drops from 9.9% to 9.5%, workers will pay less money into the CPP each year. For someone earning about $70,000 a year, that’s about $133 less each year. Employers also pay into the CPP, so together, they will pay about $266 less each year into the fund.
At first, this might not seem like a lot. But over many years, it adds up. If you are 50 years old now and plan to work for 15 more years, this small yearly saving could mean thousands of dollars less for your retirement. Even though the change seems small, it’s a big deal for your future savings. We should protect our retirement money, not give big companies a break at our expense.
The government says this change is okay because the CPP is still in good financial shape. But some experts worry. They say that because of problems like inflation, the cost of running the CPP could go up in the future. There are also political issues that could make things worse.
The real issue is that this change mainly benefits big companies and wealthy employers. While the government says it’s good for the economy, it helps big companies get richer. This is why some people call it a “gift” to employers, because they pay less into the CPP, while workers lose out on future retirement money.
Big companies like Galen Weston’s, which has about 200,000 employees, will pay less into the CPP each year. Galen Weston will save around $26.6 million annually. That’s a lot of money for big companies.
But for regular workers, especially those with middle or lower incomes, the impact is different. They will see less money saved for their retirement. It’s unfair that the government favors big companies over everyday workers. We need to protect our retirement savings, not give big companies a break.
The government says the CPP is still financially healthy. However, some experts worry. The CPP costs could increase in the future due to things like inflation, climate change, wars, and political problems. These risks were not discussed when the government announced the rate change.
If costs go up and the contribution rate stays the same, retirees might not get regular increases in their pensions because of rules about the CPP. This could mean less money for people when they retire.
The Canada Pension Plan is very important for our retirement. Any changes to it should be made carefully. While the government says the new rate is okay now, CURC warns that this change could cause problems later. We believe that lowering the rate now might be premature and could put future retirement benefits at risk.
In the end, it’s important to think about who really benefits from these changes. Big companies might save money now, but workers could lose out on their future retirement savings. We should watch out for our future and make sure that our retirement money is protected.
Read more - Is $133 per year worth new risks to your retirement security? | Canadian Union of Public Employees Read more - Canada Pension Plan History - A Comprehensive Overview
Mental Health Week May 4th to 10
Feeling connected to others is very important for our mental health and overall well-being. But many people, including seniors and union retirees, often feel lonely or isolated. In Canada, millions of people say they feel lonely often or all the time.
This May 4-10, during mental health week the Canadian Mental Health Association (CMHA) is asking people across the country to "Come Together." It’s a reminder that small, everyday actions of connection can make a big difference. When we reach out to others, we help ourselves and those around us feel happier and healthier.
Union retirees often face unique challenges when it comes to feeling connected. Many retirees have spent years working in environments where they built strong bonds with coworkers and community members. When they retire, they might lose these daily connections, which can lead to loneliness.
"Our unions have a long history of supporting members not just during work, but also in retirement. Creating opportunities for retirees to connect with each other helps prevent loneliness and promotes a sense of purpose."
CURC, in our pre-retirement course emphasizes the importance of staying active and connected after retirement. " Union Retirees need to find new ways to stay engaged. Whether it’s volunteering, joining community groups, or staying in touch with old colleagues, maintaining social bonds is key to good mental health."
When we bond with others, when someone gives us a smile or says kind words, this makes us feel good and motivate us to keep connecting with others.
Having strong social connections can also protect us from stress and many health problems. Loneliness and social isolation can cause our bodies to go into a stress response. This stress response can affect our mood, thinking, energy, immune system, and even how our body uses calories. If this stress lasts a long time, it can lead to health issues like high blood pressure, heart disease, strokes.
Loneliness is more than just feeling sad. It’s linked to serious health risks, especially if it lasts a long time. For example, loneliness can increase the chances of depression, thoughts of self-harm, or even suicide.
Certain groups of people are more likely to feel lonely, like seniors, especially those with low income or facing social barriers, people with disabilities.
In Canada, about 10% of seniors (people 65 and older) say they feel lonely. The number is even higher for seniors with less money or those who face social barriers. For example, 25% of seniors with very low incomes feel lonely, and 38% of seniors with social barriers do.
Having strong, caring relationships can protect us from loneliness and boost our mental health. This can be as simple as sharing a meal, calling a friend, or talking to a neighbor. Joining community groups, or volunteer activities can also help build connections.
People who feel connected tend to be happier, healthier, and live longer. They also have more confidence and a sense of belonging. When we help others feel connected, everyone benefits.
Here are some ways to stay connected:
- Reach out to friends and family regularly.
- Join local clubs, groups, or community events.
- Volunteer to help others in your neighborhood.
- Use technology, like video calls or social media, to stay in touch.
- Take part in activities that you enjoy and that make you feel part of something.
Remember, making small efforts every day to connect with others can improve your mood and health. And when we all work together to support each other, we can build healthier, happier communities.
This week, and every week, let’s remember how important it is to stay connected. By doing so, we can help reduce loneliness, improve mental health, and create a better world for everyone, especially union retirees.
Read more - Mental Health Week
Celebrating 100 Issues
This is the 100th issue of the Union Retiree Sunday Edition! Reaching this milestone shows how committed we are to keeping union retirees informed about important topics that affect their lives and their communities.
But why is it so important to communicate these issues to union retirees? The answer is simple, knowledge is power.
Many union retirees spent years working in factories, offices, schools or hospitals. Remembering the Day of Mourning reminds us why it’s crucial to keep workplaces safe for everyone, both physically and mentally. Sharing this helps retirees stay connected to the fight for safer jobs and better laws.
Union Retirees also need to know about changes to government programs like pensions or health care. When policies change, knowing the facts helps union retirees plan their future and advocate for fair treatment. For instance, learning about new taxes on luxury homes or laws that could affect health care coverage helps retirees understand how these decisions impact their communities.
Celebrating 100 issues is also about community. It reminds us that union retirees are a vital part of society, with wisdom and experience. Sharing news about topics like mental health, seniors’ rights, and social programs shows retirees they are still engaged, and able to make a difference.
In short, communicating these issues keeps union retirees informed, involved, and empowered. It helps stay healthy, safe, and connected. That’s why reaching 100 issues is a celebration for everyone, because staying informed is one of the best ways to support and strengthen our union retiree community.
Thank you Dean Shewring, retired Postal Worker, former President of the Peterborough Labour Council, and current membership chair of the CURC South Central Area Council for your encouragement in getting the Sunday Edition e-blast started, and for all you do for union retirees and your community.