Sociology 2202 Chapter Notes - Chapter 14: Canadian National Railway, Old Age Security, Welfare
2 Jan 2018
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Chapter 14 pensions & economic security for older canadians. The retirement wage: a history of pensions in canada. Traditionally, welfare states have been portrayed as systems that curb the stratification created by market and social forces and foster greater equality among citizens. Underlying theme is that workers are oppressed by capitalism. Until the intro of the old age security act in 1951, destitute older workers relied for help on the good graces of their families or employers or on social relief. Grand trunk railway (later canadian national railway) established one of its first compulsory industrial pension plans in canada in 1874. Corporate welfare pensions a reward for saving. Pensions at this time were a gift designed to insure that older workers did not antagonize their employers by actions such as strikes, in return for a secure old age. Passed pension funds societies act allowing workers in federally charted organizations to set up pension plans to which their employer can contribute.
