CTVNews.ca Staff with a report by Kevin Gallagher
Published Wednesday, January 9, 2019 10:00 PM EST
A $ 300,000 advertising campaign by the Canada Pension Plan got some prime time hours on Canadian television, but critics condemn it as a waste of taxpayer money.
The two-month campaign is aimed at promoting the work of the Canada Pension Plan Investment Council, using slogans such as "investing for your tomorrow" as a Great Big Sea "Ordinary Day" cover in the background. The spots appeared during breaks in the NFL playoffs and during the IIHF World Junior Hockey Tournament.
Canadians are required by law to contribute to the CPP, which has critics questioning the need to announce something they are forced to attend.
"I think it's a waste of money," said Aaron Wudrick, federal director of the Canadian Federation of Taxpayers, Kevin Gallagher, CTV News. "Canadians pay their CPP premiums because they want a return when they retire. They are not paying for ads to run during soccer games. "
In the new year, the federal government raised the amount for the PPP tied to payments to 5.1% as part of a one percent increase to be implemented over the next five years.
The investment council insists that it is a government-free organization and that the advertising campaign has nothing to do with the growing deduction from the PCP or the upcoming federal election.
Instead, they say it is necessary to change the public perception of the organization, as internal research suggests that 41% of Canadians believe that there will be no more money for them when they retire.
"Our public awareness effort simply aims at clarifying things," wrote Michel Leduc, CPPIB's senior administrative director, in a statement.
Still, some advertising experts believe the campaign can backfire.
"It has great production values, but it does not guarantee that CPPIB is investing intelligently," said Jonathan Rose, a government advertising specialist at Queen's University.