(OTTAWA, ON) The federal government recently announced a $29.9 million investment to create a pension fund for Personal Support Workers (PSWs).
"Requests to improve the financial well-being of PSWs were among the most frequent from constituents in Nipissing-Timiskaming. I am delighted with the launch of the new retirement savings pilot program for PSWs," said MP Rochefort.
Over the next 24 months, the government, through the selected provider Common Wealth, will help eligible PSWs build retirement savings. The goal is to enroll more than 5,000 eligible PSWs and build more than $40 million in retirement savings. By tracking the results, these measures will help both the industry, and the government improve support for PSWs and shape future policy.
This initiative is one of many steps the Government of Canada is taking to improve long-term care.
MP Rochefort has also worked to ensure that the promised tax credit for PSWs, equal to 5% of eligible income, is included in the upcoming fall budget, providing up to $1,100 per year in assistance. This program helps PSWs save for their future while strengthening long-term care by improving workforce retention and creating better working conditions.
Deborah Slater of Powassan, Chief Union Steward for the Service Employees International Union (SEIU), which represents approximately 58 PSWs in the region, said her union will not leave home care workers behind. That is why she and her union are relentlessly advocating for stronger economic and retirement security measures.
MP Rochefort extended words of appreciation to the Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario for her attention to this important issue for the riding of Nipissing-Timiskaming.
BACKGROUNDER
CPAC Video of Hon Patty Hajdu Announcement of PSW Tax Credit