Posted by: dave1949 | 2012/01/30

Pension Fun Again

So it seems that our fearless leader is touting, quietly that 67 us going to be the new 65.

Now I have no problem with the fashion industry trying to boost their sales by propounding drivel of this sort. Sure older people can dress like younger ones and not look like fools. No more than anyone that pays for high fashion designer stuff looks like a fool.

I do have a tiny little problem though with the Prime minister whe he starts hinting about needing to rejig the old age pension because, surprise, surprise, we can’t afford the current system. Once again Stevie shows what he really really wants to do in government. He wants to make sure that the power f government is only used for important stuff.

Stuff like flying Peter Mckay in and out of fishing trips. Stuff like building gazebos miles and miles away from economic meetings with his good buddy Tony. Stuff like building more and bigger prisons because they are so  much better for the country than more and bigger schools or hospitals.

For myself there is just one little problem. I retired from GM 8 years ago. At the time I gave it all the thought possible. I knew that I would be cutting my income pretty drastically but with no dependents I figured I could get by without any real hardship and enjoy a long contented retirement.

Part of the planning was that the pension was going to be indexed to the cost of living. Like the pensions for members of parliament. The indexing wasn’t perfect. We would get 80% of the change in the cost of living every half year. Working out the numbers I realized that that meant that over the years I would fall behind but slowly so if I managed to live for 30 years or so I wouldn’t be in the position of trying to pay 2030 costs with 2000 wages. The sort of thing that has caused older pensioners in Canada to lose their houses after decades of ownership.

Well of course GM decided to declare bankruptcy and with the active help of TOny and others they were allowed to dump a bunch of the pension benefits and indexing was one of the first to go. Tony of course didn’t lose the indexing on his pension.

Now Stevie is hinting that he will change the rues so that people can’t get the pension at 65 but may have to wait till 67. Well one of the other parts of my retirement benefit form GM is that they pay me the equivalent of my Old age Pension from the time I retired till I turn 65. The when the government pension kicks in GM.s supplement cuts off. Therefore I will get the same income just from the government instead of GM’s supplement.  Now I’m sure Stevie will just tell GM to keep paying the supplement for 2 more years if he changes the rules because surely he wouldn’t want me to go without any of this money for 2 years. Oh by the way Stevie, Tony, Peter, all of those guys, they don’t have to wait till 65 to get their indexed pensions. Heck they can even work at another job and still collect the pension on top of their wages. So certainly they would want to be sure that thousands of their fellow Canadians aren’t left in destitution over a gap they propose to create in the pension rules.

Gosh it’s hard to figure out how to plan for the future when they keep changing the rules right in the middle of the game. Even the NHL waits and changes rules between seasons.

Now I believe that all citizens of this country should be able to live out their old age in decent conditions. I worked full or part time from the time I was 16 till I was 55. I realize that because I worked at GM I got the ability to retire 10 years earlier than people without private pension programmes and I’m thankful for that. I just hope that while Steve makes sure he has enough money for the planes and jails he seems to love so much he doesn’t forget that there are thousands of us that would like very much to be able to buy something besides cat food to live on. I just hope that he realizes that money spent on the citizens of the country instead of the corporations actually comes back in as taxes and runs through the nation as we drive, and eat, and buty clothes and frivolous stuff like that.

I’m not certain because of course the jails will be awesome and the jets will be stupendous but I’m not sure how much they’ll help the local businesses here and in every town in the country where pensioners live and purchase.

Remember when any one tells you they are going to cut taxes but not services they are lying.


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