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Wealth Professional | 01 May 2014, 04:32 PM Agree 0
The Ontario government is now offering key details about a "retirement pension plan" meant to bolster the incomes of the growing number without private plans through work.
  • Kevin O'Brien | 02 May 2014, 09:07 AM Agree 0
    Fact: If you take the $ amount contributed to CPP annually by the average Canadian worker/Employer matched and invest it at 5% for a total of 35 years (the average work span) and then systematically withdraw (indexed to inflation) from the accumulated value (again invested at 5%) the principal is never touched - it keeps growing. Here's the point the reason CPP is broken is because the government failed to keep a CPP account and wastefully spent the money on election promises and government projects. So here we are allowing the Liberals to set up a supplementary pension plan? The government's financial record for maintaining and governance of our government retirement pension plans speaks for itself -I say keep them away from our pension plans.
  • Mark Matsumoto | 02 May 2014, 04:13 PM Agree 0
    This is a very horrible, stupid and irresponsible idea. Create a huge liability, pay the baby boomers who have started to retire and tax the fewer, younger people behind the baby boomers. Alternatively, increase HST, gas, alcohol, and corporate taxes so companies and jobs move out of Ontario.

    It took huge increases in CPP rates to try to fix it. Companies are eliminating pensions because they are so risky and expensive and the people you voted for want to create a huge new one.
    It is a bad plan for Ontario but not so bad for me. I will pay for 5 or 10 years and collect for 20 or 30.
    It is another ill conceived idea by the socialist liberals. This is an open ended expense that will cost far more and cause far more damage to Ontario than the cancelled gas plants or any of their other mistakes.
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