IntenseDebate - joannie1

14 years ago @ Macleans.ca - Downsized dreams · 0 replies · +1 points

Putting pension fund at the front of the line is a good idea, but not a solution.

Pensions are becoming scarce in the private sector and have exploded in the public sector. Lets end the lunacy now. The infrastructure is in place under the Canada Pension Plan to turn it into a foundation for everyones retirement. Increase the payout to $2,000 per month and let people save outside of CPP to improve their retirements.

Taxpayers no longer want to be on the hook for lavish government employee retirement benefits, pensions and freedom 55. Taxpayers do not want to be on the hook for Chrysler and GM pensions. Lets take everybody off the hook for things they don't have. 65 to 70% of the Canadian workforce has no organized pension

14 years ago @ Macleans.ca - How do you feel about ... · 2 replies · +3 points

The money would have been better spent educating the public that crime has been falling since we revamped the criminal justice system back in the 70's. Vengence is a filthy emotion, and we should not encourage it. Eventually all but the worst of criminals will be back on the street. It is better for society if rehabilitation is the goal.

14 years ago @ Macleans.ca - Thinking about the old... · 2 replies · +2 points

Thank you Mr. Steyn, Mr. Levant, and Macleans magazine for speaking on this issue. I couldn't agree with you more!

I read a quote attributed to Benjamin Franklin and I think it applies to a number of issues. "Those that would sacrifice liberty for safety don't deserve liberty".

It would be refreshing to hear from a politician that doesn't sound like he's been scripted by polsters.

14 years ago @ Macleans.ca - The war for workers · 0 replies · +1 points

If the defined benefit plan was changed to a defined contribution plan there would be no deficits or need for hocus/pokus expensive actuarial reports every five years. The payout would be based on how much is in the plan on retirement, which is as it should be.

I don't think you will find any sympathy in the private sector for your plight. Average wages in the public sector are 10% higher than in the private. This number balloon to 15 to 40% higher when the benefits are added. I suggest everyone write their representatives at all three levels of government and tell them that we are no longer going to vote for any government that bestows benefits to public service employees that are not widely available in the private sector and ask the taxpayer to fund them. We need to ask ourselves what benefits are we willing to pay on behalf of all working people.

14 years ago @ Macleans.ca - The war for workers · 0 replies · +2 points

Please start referring to the employers as the taxpayer and remember that 70% of the contributions to this plan are made by the taxpayer on your behalf. The deficit is being paid by the taxpayer. Stop bean counting and think about whether or not it's fair to ask me to pay for 70% of the cost of your pension. I will put $4400 this year into the CPP (I'm classed independent contractor) and whats the current payout at retirement $519/month. Your extended health care benefit including dental continues in retirement and is paid for by the taxpayer. My extended health in my 50's is costing me $220/month and it's not as generous as yours. It's unheard of in the private sector to get extended health care benefits in retirement. I can't imagine what the cost would be for someone over the age of 65. How much do the retirees pay for this benefit $10 to $15 per month.

14 years ago @ Macleans.ca - The war for workers · 0 replies · 0 points

I used to feel that government existed for the people--I now feel that we exist to service them.

14 years ago @ Macleans.ca - The war for workers · 0 replies · +1 points

How can you possibly justify your position as a loss for retirees. We the employer are making about a 70% contribution to your pension. Average public service retirement age had fallen to 58 by 2006. The average value of income package in the federal public service is over 40% higher than the average income for the same job in the private sector. This is primarily due to the pension plan and benefits.
Do you dispute the Macleans article that showed 2 couples making identical contributions to a defined benefit, versus a defined contribution plan. The defined contribution ended up with around $220,000 at retirement and the defined benefit ended with $1,200,000 benefit. Please stop defending your entitlement to your entitlements and advocate for a decent retirement for everyone. That's the purpose of my posts.

14 years ago @ Macleans.ca - The war for workers · 0 replies · +1 points

The $10.1 Billion I was referring to was in the Ontario Provincial Plan. You seem to forget that the employer is the taxpayer!! How many of the 80% of us that are not privy to these pensions want to pay for them--What about our retirement! When your employer pays 50% of your unemployment insurance do you consider that your money or the employers. Let me assure you employers think it's a payroll tax and they pay it. So now we have an even greater deficit to pay in the Federal Defined Benefit Pension Plan.
I've never heard you suggest that all everyone should have a decent pension and that's what I've been advocating for. Instead you defend the rest of us contributing to yours and the rest of us contribute 70% to yours. Yes, folks the employees contribution to their cushy pension has never been more than 38% paid by the employee. Why are you defending your position without a hoot of care for the rest of us?

14 years ago @ Macleans.ca - Canada's Top 100 Emplo... · 1 reply · -1 points

I can live with that explanation. However, it also means that the value government pay packages in this country are 25 to 40% higher than the private sector. I suspect this is because they aren't spending their own money.

14 years ago @ Macleans.ca - Canada's Top 100 Emplo... · 0 replies · -1 points

Again I refer to the Macleans study where they took two couples with identical contributions over an identical period of time. The defined benefit pension plan paid out over 5x the amount of money. The reason being the defined benefit plan isn't based on the amount of money in the plan, it's based on an average of top 5 earning years. Turn the defined benefit into a defined contribution plan and you will very quickly see the difference.

Name one private sector company that has started a defined benefit pension plan in the last 30-40 years. There's a reason. These plans worked when life expectancy was 70 and retirement age was still 65. With freedom 58 and a life expectancy of 80+ they don't.

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