GM Canada is facing a pension shortfall.

[Vancouverite]

This is going to happen to everyone, though GM will be hit harder than most.

How can we have ever-more workers supporting the retired? That's a Ponzi scheme that can't work, especially since people are living longer than before.

GM still facing huge pension shortfall - The Globe and Mail

 

[Liberalman]

With all those years of the corporations raiding the pension fund to pay the big bonuses to those upper management types this is the reason why there is not enough money in the pension fund.

It’s time for the government to bring in pension reforms for private companies so workers who pay into a pension plan are protected from the greedy hands of their employers.

All private pensions should be paid to a third party government approved administrator who would pay out the pensions as the people retire where the company would not have access to that money for their private projects. This would give some protection to retirees whose company goes belly up.

 

[TenPenny]

Defined benefit plans should be either outlawed (especially for public sector), or, at the very least, gov't should not have to guarantee them.

If gm plan runs out of money, I should not have to top it up.

 

[taxslave]

With all those years of the corporations raiding the pension fund to pay the big bonuses to those upper management types this is the reason why there is not enough money in the pension fund.

It’s time for the government to bring in pension reforms for private companies so workers who pay into a pension plan are protected from the greedy hands of their employers.

All private pensions should be paid to a third party government approved administrator who would pay out the pensions as the people retire where the company would not have access to that money for their private projects. This would give some protection to retirees whose company goes belly up.

Actually tthis should have been done about 40 years ago. Most people knew these pension plans were a ponzi scheme. A good number of us that have never had a company plan are going to end up being better off than those that depended on their company or union for a pension due to the greed of those that a generation older than us. Much the same as they did with constant government debt and deficits to have it all on the backs of those that come behind them.

 

[Vancouverite]

People will just have to work past 65, no two ways about it.

 

[TenPenny]

Or, you could look after your own future.

 

[Bar Sinister]

This is going to happen to everyone, though GM will be hit harder than most.

How can we have ever-more workers supporting the retired? That's a Ponzi scheme that can't work, especially since people are living longer than before.

GM still facing huge pension shortfall - The Globe and Mail

I expect you mean ever fewer workers not ever more. However, I expect you need not worry. Currently the funding of the CPP is more than adequate as the article below indicates. It is also fairly easy to adjust by simply increasing pensions in the future if it is necessary.

Will Canada Pension Plan (CPP) be there when you retire? | Retire Happy Blog