- BC Games
Connect with Us
Where are our pensions going
To the Editor,
Re: Canfor plans to build plant at Chinese port and Pension gap blamed for rising poverty among seniors.
Both of these articles appeared in the Times-Colonist on Nov. 27. The first piece tells us that Canfor, one of B.C.’s largest lumber producers, is proposing to build a secondary manufacturing plant on China’s northeast coast after announcing last month that it will be closing a sawmill in Quesnel.
The second article tells us that poverty among Canadian seniors is rising, in part, because pensions today replace only 45 per cent of pre-retirement income, “well below the two-thirds that many experts recommend”.
Could there be a connection here? Is it possible that pension income is down because high wage manufacturing jobs that usually come with good pensions are being shipped offshore only to be replaced by lower wage service jobs that seldom offer pensions?