Pensions

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I Want To Hear From All Veterans, Even If They're Mad At Me

I want to thank Bruce Moncur for his piece, "Trudeau's Liberals Anything But Sunny Ways For Veterans," and for attending Veterans Affairs Canada's (VAC) stakeholder summit on May 9 to 10. To date, it was the department's largest and best-attended, and he made some invaluable contributions both as a member of the greater assembly and individually when we had an opportunity to speak one-on-one during a lunch break. Bruce points out in his piece that Budget 2016 did not include all of the items in the mandate letter I received from Prime Minister Justin Trudeau when I took office as minister of veterans affairs in November 2015. He's right.
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Trudeau's Liberals Anything But Sunny Ways For Veterans

The Liberal government was going to allow the abeyance on the Equitas lawsuit -- the court case in which the government has been arguing the "moral obligation" they have to soldiers maimed in war -- to run out. The biggest piece of the Liberal party platform and mandate letter was the reestablishment of life-long pension, and now they are going to court to argue against it.
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Why Australia's Pension Reform Won't Work for Ontario

Before we blindly adopt the Australian pension system as our own, we need to take several long moments in deep thought and contemplation -- and look at the evidence. Yes, you are able to invest as you wish. In fact, you are responsible for investing your dollars to achieve the highest rate of return available. Is this something for which you feel capable?
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The Pros and Cons of an Expanded Canada Pension Plan

A new report came out this week that reiterates what we've heard from other sources a few times now: Canadians aren't saving nearly enough for retirement. The Deputy Chief Economist of the CIBC warns that without pension reform now, younger workers today will see a steep decline in living standards as they retire. The Conservative government has recently announced it would like to have a dialogue with Canadians about a potential expansion of the Canada Pension Plan (CPP). While this, in itself, is a purely political action -- since it commits the government to nothing -- it is worth looking at what the possible outcomes might be.
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As a Retired Public Servant, I'm Speaking Out About Government Cutbacks

A government with a hate-on for its workers doesn't just go after those still employed; it also revels in undermining the security of its former workers: us retirees.This year has seen the implementation of an additional $500 payment for my healthcare plan. Despite protests from our retirees association and from the unions, the government effectively broke our contract and unilaterally imposed the extra charge.
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Canada's Biggest Security Threat Isn't What You Think

Recently, Canada's military has come under deliberate, sustained attack. In fact, our Forces may already have been vanquished. Not by an enemy, but by the nation it defends. Faith in Canada's support is the one thing our Forces absolutely, positively must have to be effective. But that was taken away last year, bringing the days of selflessly charging into danger to a crashing halt.
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As a Senior, I Deserve Less Government Money

I might be betraying my demographic but I think it's time we seniors started asking for less. For years now, those in the over-60 age group have been making out like bandits while the younger generations struggle to make ends meet. Unlike in years past, there are now relatively few seniors in developed nations suffering in poverty. The iconic image of an aging widow living on cat food is today largely a myth. Older folks, for the most part, live comfortable lives.
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You Might Be Sitting On a Goldmine

The experts say that the average career in one company is less than seven years. Essentially that means you could be at four or five companies throughout your career. And like you've just discovered, that could mean you may have several RSPs, pensions, employee stock plans or other savings accounts associated with those old jobs.