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My parents lived out in the Laurentians where they had cluster boxes. I've NEVER seen that. There was nothing on the ground except for the occasional deer droppings.
Great idea. Raise the entire country's interest rate by 2% to cover their pension shortfall instead of dealing with it internally. Makes perfect sense to me.
Great idea. Raise the entire country's interest rate by 2% to cover their pension shortfall instead of dealing with it internally. Makes perfect sense to me.
per the article
"t is true that there is a solvency deficit with the Canada Post Pension Plan, but what does this mean exactly? It means that if Canada Post were to suddenly disappear, the pension plan would be 6.5 billion dollars short of being able to pay everyone’s pension.
In short, this is only a hypothetical scenario designed to test the stability of the plan. Other pension plans are not forced to meet this test and many would not pass it. On a going concern basis, Canada Post’s pension plan has no problem meeting its obligations.
Federal regulations require that Canada Post make special payments over a period of five years in order to eliminate the solvency deficit. But Canada Post has just been given a four year reprieve from these payments. This means that this pension deficit will not cost them a dime for at least four years. Again, their talking points do not hold water."
Great idea. Raise the entire country's interest rate by 2% to cover their pension shortfall instead of dealing with it internally. Makes perfect sense to me.
How to deal with pension shortfall internally?
The whole problem with the pension in the western world is because the pension system itself is not sustainable to begin with. The government should never have promised to provide a certain amount of money, indexed to inflation, to its retired citizens.
You can't put the burden of the retirees on the working young. It is unfair and it is unsustainable. People should always save for their retirement starting with their first pay check. Instead, it becomes so prevalent in Canada and other rich countries that people spent pretty much every cent during their working age and have very limited savings at the age of 65, and then start to complain that the government doesn't care about the seniors. Are you kidding?
Improved quality of life is only possible through continuously improving producitivity. However, in welfare countries like Canada, increasing productitivity means asking workers to work harder, and produce more within the same hour. Our unions pretty much make that impossible because all the care about is for the employers to give more money, more vacation, more sick days and more pension for ideally less and less work load, under the glorous slogan of "fair wage".
Someone please enlighten me, under such mindset and culture, how can we expect to keep providing generous pension? We are simply using today's shortfall to fill yesterday's.
IMO, defined benefit pension plans should be completely scrapped in the public sector. CPP and OAS should also be slashed to give tax payers a breath. Seniors should depend more on their life time savings and family for protection, instead of keep asking for handouts from society. Yes, the society is supposed to care for its poor seniors, but not to care so much that the people start to feel free to spend recklessly when young because the government will always catch them when they are fall. sorry, not the government, future taxpayers.
Our modern society lacks personal responsibility and offers too much entitlement. what makes it worse is that it is impossible for the government to take away what is already being given, even when it is necessary, so it just chooses to keep giving more and more to secure votes. Some day, it will destroy the system completely.
The whole problem with the pension in the western world is because the pension system itself is not sustainable to begin with. The government should never have promised to provide a certain amount of money, indexed to inflation, to its retired citizens.
You can't put the burden of the retirees on the working young. It is unfair and it is unsustainable. People should always save for their retirement starting with their first pay check. Instead, it becomes so prevalent in Canada and other rich countries that people spent pretty much every cent during their working age and have very limited savings at the age of 65, and then start to complain that the government doesn't care about the seniors. Are you kidding?
Improved quality of life is only possible through continuously improving producitivity. However, in welfare countries like Canada, increasing productitivity means asking workers to work harder, and produce more within the same hour. Our unions pretty much make that impossible because all the care about is for the employers to give more money, more vacation, more sick days and more pension for ideally less and less work load, under the glorous slogan of "fair wage".
Someone please enlighten me, under such mindset and culture, how can we expect to keep providing generous pension? We are simply using today's shortfall to fill yesterday's.
IMO, defined benefit pension plans should be completely scrapped in the public sector. CPP and OAS should also be slashed to give tax payers a breath. Seniors should depend more on their life time savings and family for protection, instead of keep asking for handouts from society. Yes, the society is supposed to care for its poor seniors, but not to care so much that the people start to feel free to spend recklessly when young because the government will always catch them when they are fall. sorry, not the government, future taxpayers.
Our modern society lacks personal responsibility and offers too much entitlement. what makes it worse is that it is impossible for the government to take away what is already being given, even when it is necessary, so it just chooses to keep giving more and more to secure votes. Some day, it will destroy the system completely.
That's what I was saying...hence the
Natnasci, why kick it down the road for four years like every other government has done. If you have the capability to to make the change now so that there is no chance of default why wouldn't you do it?
The single best time to implement change in a business is not when things are going bad, but when they're doing well. By the time it's bad, it's too late. Besides, CP has stopped adding to carrier delivery for a long time, it only makes sense to move everything to one process.
The single best time to implement change in a business is not when things are going bad, but when they're doing well. By the time it's bad, it's too late.
This is very important for both the private and the public sector.
However, in a democratic system, the politians seldom have the incentive to implement change (cuts) when money is flowing in. Our generous government usually hand out more money ("benefit") to all sorts of people/business without consideration of long term effect.
Once a "program" (I want tp puke at this word) is in place, it is very difficult to remove and reduce when times are bad, because cutting is always politically unpopular (hurting votes).
Let's face it, people will always want more. Who will reject free extra cash? An irresponsible government for their short term interest always tends to give them what they want to secure votes, which becomes impossible to take back when circumstances change. This is the cancer of our democratic often vote buying focused political system - politicians only care about votes and nothing else.
If the money has to come from their own salaries, then I am sure policies will be completely different. Shouldn't policy makers always spend money as if it were their own? It is always easy to spend other people's money, isn't it?
Generous pension and benefits is never a good thing. To think it leads to better "quality of life" is stupid.
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