Archive for the ‘Social Security Debates’ Category
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CPP reforms: Still alive, but on life support
Tuesday, December 21st, 2010
Dec 21 2010
The financial meltdown of 2008-9 has provided the impetus for CPP reform. By gravely undermining the value of corporate pension plans and individual RRSPs, the meltdown underscored the need for a stronger public alternative. It also accelerated the move by corporations away from defined benefit and toward defined contribution plans, which promise less for workers upon retirement… Given that the CPP is both portable and solvent, that seemed a better option than trying to squeeze more out of private sector plans. And the country’s finance ministers bought into the idea last summer.
Tags: ideology, pensions, standard of living
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Welfare rules: Keeping people in poverty trap
Monday, December 20th, 2010
Dec 20 2010
The initial shock of having to turn to welfare is compounded by the realization that you are actually not eligible — at least not yet. To qualify for welfare, it’s not enough to have no income (and no unemployment benefits). You also have to have no more than $572 in liquid assets in Ontario, if you’re single. That amounts to destitution… Depriving people of modest liquid assets sets them up for failure and deprives them of any financial cushion when they are trying to cope with life’s ups and downs. That keeps them from escaping the poverty trap and getting back on their feet.
Tags: poverty, rights, standard of living
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Canada’s wishful thinking pension program
Monday, December 20th, 2010
December 20, 2010
Much as it violates official National Post dogma, the premiers appear to have reality on their side… Study after study shows that only a minority put any money into an RRSP, and usually only a fraction of what they’re allowed… As with Ottawa’s other voluntary plans, it sounds like a perfectly reasonable idea that would work great, except that the vast majority of people — especially those who need it — would never go near it… It’s easy to say it’s their own problem if they’re unwilling to prepare, but in the end they’ll end up turning to the state to look after them anyway.
Tags: ideology, pensions, tax
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Pension reform: It’s no time for cold feet
Sunday, December 19th, 2010
Dec 19 2010
… previous hikes in CPP premiums to shore up its finances had minimal impact on employment. And public opinion surveys show broad support for an expanded CPP. Research from the Ontario government and pension experts across the country support the idea of building on the strengths of the CPP — its diversification, low fee structure, solid track record and strong actuarial footing… That’s no reason to proceed at a snail’s pace when a strong consensus exists for prudent action.
Tags: pensions, poverty, standard of living, tax
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Dear Canada: Don’t surrender on CPP reform
Sunday, December 19th, 2010
December 18, 2010
If CPP is expanded to provide a more stable foundation for retirement security in Canada, it would represent one of our country’s most important social policy changes since the introduction of Medicare.
It would also be a timely Christmas present for the millions of Canadians who worry about their retirement savings and who have been burned by RRSPs and mutual funds. The big question is this: will the nine provincial finance ministers who support CPP expansion find the courage to make a deal in the public’s best interest?
Tags: pensions, rights, standard of living, tax
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Low-wage earners need help
Friday, December 17th, 2010
Dec 17 2010
… articles about higher CPP or RRSP contributions to help your pension is frustrating. They all assume that people with part-time jobs can benefit from these. I pay CPP but will not receive much. I also pay EI but can never collect as I cannot put in enough hours to qualify. RRSP accounts that I was advised by the bank would help me in the future I am now collapsing as I still will not have enough income to pay taxes. Come up with help for the low-wage earners.
Tags: pensions, poverty, standard of living
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Fix pensions with screw-drivers, not sledgehammers
Friday, December 17th, 2010
Dec. 17, 2010
… some Canadians who are doing well while working may need to save more than their predecessors, and may need readier access to cost-effective, well-managed saving and retirement arrangements. Granted, post-retirement consumption for middle-class employees in small organizations and the self-employed is not the sexiest subject for a post-meeting communiqué. But that’s what the finance ministers should discuss. Those people need better private pensions and RRSPs, not “one size fits all” solutions – screwdrivers from the ministers, not sledgehammers.
Tags: pensions, standard of living, tax
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Shelving CPP expansion, Flaherty pitches private-sector retirement plan
Thursday, December 16th, 2010
The Finance Minister’s call for modest enhancements to the Canada Pension Plan is moving to the backburner as Ottawa was unable to convince enough provinces to get on board. Instead, Jim Flaherty said there is a willingness to move ahead with a new privately-run option targeted at workers who are either self-employed or who work for a company that doesn’t offer a pension. The minister said he hopes the proposed Pooled Registered Pension Plan will be attractive to companies that previously felt high management costs prevented them from offering their employees a pension.
Tags: ideology, pensions, poverty, standard of living
Posted in Equality Debates, Social Security Debates | No Comments »
No surgery needed [CPP]
Thursday, December 16th, 2010
Dec. 15, 2010
Some modest increase in CPP to provide more defined-benefit arrangements makes some sense. However, bringing in higher payroll taxes at a time when the Canadian economy is on the rocks is rather bad timing. When federal, provincial and territorial ministers of finance meet just before the holidays, they should first focus on low-hanging fruit, such as regulatory changes, and put off CPP expansion until the economy is in better shape.
Tags: pensions, standard of living, tax
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See poverty for what it is: a violation of human rights
Thursday, December 16th, 2010
December 14th, 2010
Significant poverty reduction requires a concentrated and co-operative effort by all levels of government. It cannot be done by charity and emergency relief. Poverty must be seen for what it is, namely, a serious violation of human rights. It is an affront to human dignity that deprives its victims of full membership and participation in our society. Therefore, poverty reduction must be seen not as charity work but primarily as a human rights remedy which governments have an obligation to implement.
Tags: featured, poverty, rights, standard of living
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