Posts Tagged ‘pensions’
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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
Posted in Social Security Debates | No Comments »
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
Posted in Social Security Debates | No Comments »
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
Posted in Social Security Debates | No Comments »
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
Posted in Social Security Debates | No Comments »
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
Posted in Social Security Debates | No Comments »
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
Posted in Social Security Debates | No Comments »
Pensioner’s Christmas windfall melts on arrival
Wednesday, December 1st, 2010
Dec 01 2010
Overpayments are the bane of disabled Ontarians’ existence. They turn people’s lives inside out, jeopardize their housing arrangements, compromise their health and sometimes drive them into debt. Any fluctuation in an ODSP recipient’s income — resulting from part-time work, longer hours, a move, a divorce settlement or a relationship with a non-disabled partner — can trigger an overpayment.
No doubt overpayments will come up in the social assistance review launched by the government this week… Why do disabled Ontarians have to go through this?
Tags: disabilities, ideology, pensions, poverty, standard of living
Posted in Social Security Delivery System | 1 Comment »
Public better than private on pensions
Tuesday, November 30th, 2010
Nov 30 2010
The notion that we can’t afford strong public programs — that we’re better off buying services or benefits on our own — is one of the central falsehoods blocking meaningful progress toward improving Canadian well-being… management costs at Canadian mutual funds eat up nearly 2 per cent of assets — the highest rate in 20 countries surveyed. By comparison, CPP management costs were just 0.17 per cent last year. This enables the CPP to pay out more in pension benefits.
Tags: economy, ideology, pensions, standard of living
Posted in Social Security Debates | No Comments »
Number of seniors living in poverty soars nearly 25%
Thursday, November 25th, 2010
Nov. 25, 2010
The number of seniors living in poverty spiked at the beginning of the financial meltdown, reversing a decades-long trend and threatening one of Canada’s most important social policy successes. The number of seniors living below the low-income cutoff, Statistics Canada’s basic measure of poverty, jumped nearly 25 per cent between 2007 and 2008, to 250,000 from 204,000, according to figures released on Wednesday by Campaign 2000… Economists say women make up as much as 80 per cent of the increase in seniors poverty.
Tags: pensions, poverty, standard of living, women
Posted in Child & Family Debates | 1 Comment »
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