pension reform

We know the problem but where is the solution?

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March 12, 2010
We know the problem but where is the solution?

  An interesting article caught my attention today. TD’s Don Drummond to rest his calculator end June. The part of the article that amused me was that at age 56 and after 10 years at TD Bank, Drummond is eligible for a FULL federal government pension. He had retired 10 years earlier from the...
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California Pension Dust Up!

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August 9, 2009
California Pension Dust Up!

Last week I wrote Pension Reform In California about pensions reform in California. What happens in California will have an impact on pensions across North America. On Thursday in the Los Angeles Times there was an article called Why did Schwarzenegger bail on pension reform? The article speaks about Schwarzenegger backing out of a...
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Canada promotes double dipping when most governments are eliminating it!

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August 6, 2009
Canada promotes double dipping when most governments are eliminating it!

As the slogan for Red Rose tea says… Only in Canada Eh! Jonathan Chevreau of the Wealthy Boomer and the National Post recently created a video that described how the Canadian government promoted double-dipping to Canadian public sector employees. Phased retirement video This is a scheme that was hatched in the federal budget in...
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The great public-sector pension rip-off

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July 12, 2009
The great public-sector pension rip-off

The Economist published an article that reported on public sector pensions. It is called The great public-sector pension rip-off. It is a short article but highlights the key points about what is wrong with our public sector pensions. Although it is written from the UK it perfectly describes Canadian pensions as well. JOIN a...
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The Heavyweights Step In!

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April 14, 2009
The Heavyweights Step In!

Today CARP, The Canadian Association of Retired Persons released a series of advocacy articles aimed at creating major pension reform in Canada. At initial glance there are certianly some very intersting proposals and ideas originating from the articles in this month’s CARP on-line forum. As Zoomers Pension Reform: the status quo is not an...
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Pension Primer – Some of the concepts explained

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April 2, 2009
Pension Primer – Some of the concepts explained

When I began to study pensions many years ago there were some concepts that I did not initially understand and were confusing but became clearer after I studied them in action. Pension Types In Canada there are two types of pensions. There are defined contribution plans and there are defined benefit plans. The best...
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Pension and Public Sector Reform Gaining Steam

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February 11, 2009
Pension and Public Sector Reform Gaining Steam

As the financial crisis worsens some public figures are stepping up to reform the system. It may be an impossible task but is essential to economic recovery. All world citizens are faced with the same challenges in this financial crisis. The Governor of the State of Rhode Island made a speech that will be...
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Forbes Article, Gilt-Edged Pensions – How much are they really worth?

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January 31, 2009
Forbes Article, Gilt-Edged Pensions – How much are they really worth?

Forbes came out with an article last week about the lucky stiff retiring on a public sector pension. The article tells the story of the stiff retiring four years ago at age 42 with a $65,000 per year pension. The pension is indexed for life, that is guaranteed to increase every year. Forbes places...
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Public Sector Reform Will Be Tough

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January 13, 2009
Public Sector Reform Will Be Tough

The people, not the public sector, are sovereign – Independent of Ireland At a time when all Canadians are feeling the effects of our current economic situation governments seem reluctant to contribute to our economic recovery. It is not unrealistic to expect that cutbacks, layoffs and salary reductions should be shared by the public...
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