Ontario Will Halt Provincial Pension Plan If CPP Deal Reached

[mentalfloss]

Makes sense.


Ontario Will Halt Provincial Pension Plan If CPP Deal Reached

Premier Kathleen Wynne is signalling she’s willing to abandon her proposal to create a provincial pension plan if a meeting on Monday leads to a deal on improvements to the Canada Pension Plan (CPP).

The federal and provincial ministers of finance are set to meet in Vancouver on expanding CPP contributions and payouts, with negotiations happening behind the scenes this weekend. A deal requires the consent of seven of the 10 provinces with two-thirds of Canada’s population.

If an agreement emerges, the Wynne government will put a halt to the looming Ontario Retirement Pension Plan (ORPP), senior officials tell CBC News.

In an interview on CBC’s Power and Politics, Ontario Finance Minister Charles Sousa said his government wants to see “an enhanced CPP that’s timely, that’s adequate, that provides a sufficient amount of supports in the long run.”

“If that is able to be achieved this weekend, we will proceed with CPP enhancement as opposed to the Ontario pension plan,” Sousa told host Rosemary Barton.

The push to boost pension contributions stems from concern that too many Canadians aren’t saving enough for a comfortable retirement, with the modern labour environment of casual and contract work providing too few employees with workplace pensions.

With the Harper government reluctant to boost CPP, Wynne made the creation of a new provincial pension plan a key plank in her victorious 2014 election campaign. It would cover some three million Ontarians who don’t have a workplace pension.

In an interview airing Saturday on CBC Radio’s The House, host Chris Hall asked Wynne why she’s now willing to abandon the plan.

Ontario Will Halt Provincial Pension Plan If CPP Deal Reached

 

[Walter]

So, Justine or the Dykebitch is going to steal more money from me.

 

[mentalfloss]

If it were only from you, I'd be perfectly fine with it.

 

[IdRatherBeSkiing]

So this is just a negotiated tax grab and what they are arguing about is which government will get the revenue. I firmly believe that CPP will not be there when I retire.

 

[Keepitsimple]

The OPP was a reckless ploy for votes orchestrated by the man behind the curtain, Gerald Butts - the man currently holding the puppet strings behind Trudeau. There was just about unanimous economic disdain for the OPP itself - and the timing of such a boondoggle amidst global economic uncertainty. As time went on, even the oblivious Wynne was looking for a way out. It now looks like common sense has taken hold and saved Ontarians further billions that would have been wasted. What a shame we've had this particular group of incompetents for so long - imagine what all the untold billions could have accomplished.


It's not really the political stripe - it's the incompetence and corruption of the people in charge.

 

[petros]

Pfffb...there no way Hell she/he can find a guarantor for a Provincial Pension with the ON credit rating being sh-t and the debt load as high as it is. It was never going to happen in the first place.

 

[Danbones]

most places they just steal the pension money then close the payout window
its called a "balanced Budget"

 

[petros]

ON is on the verge of bankruptcy. Wynne doesn't want to cut spending so carbon taxes and pension money are merely jacking off the dog to feed the cat to keep the lights on.

 

[Johnnny]

ON is on the verge of bankruptcy. Wynne doesn't want to cut spending so carbon taxes and pension money are merely jacking off the dog to feed the cat to keep the lights on.

The Ontario Provincial Government would rather just sell the cat and keep jerking the dog off until its spent.... :lol:

 

[B00Mer]

ON is on the verge of bankruptcy. Wynne doesn't want to cut spending so carbon taxes and pension money are merely jacking off the dog to feed the cat to keep the lights on.

So true..

Ontario is one step closer to bankruptcy says Chamber boss

...and not to mention a housing crisis..

http://forums.canadiancontent.net/news/144252-ottawa-could-take-drastic-measures.html

meh, but Donald Trump will save us.. :lol: Art of the Deal, he will just buy Canada.

 

[petros]

The Ontario Provincial Government would rather just sell the cat and keep jerking the dog off until its spent.... :lol:

You can't make more dogs with your stud being dry either.

 

[tay]

Here are five things to know about the CPP .;


What you need to know about CPP talks

 

[tay]

Three-in-four Canadians say yes to CPP expansion


Three-in-four Canadians say yes to CPP expansion - Angus Reid Institute

 

[Tecumsehsbones]

Three-in-four Canadians say yes to CPP expansion


Three-in-four Canadians say yes to CPP expansion - Angus Reid Institute

Probably shoulda asked more than four. That's a pretty small sample size.

 

[taxslave]

There is nothing wrong with expanding CPP provided a few basic rules are followed. WHat you get is based on what you contributed. Just like any private plan the payout must reflect contributions, not a fixed amount. There must be a minimum contribution period before even being eligible.Something in the lines of 10 years.

 

[mentalfloss]

Three-in-four Canadians say yes to CPP expansion


Three-in-four Canadians say yes to CPP expansion - Angus Reid Institute

And a deal has been reached.

Another victory for socialism.

 

[Walter]

Three-in-four Canadians say yes to CPP expansion


Three-in-four Canadians say yes to CPP expansion - Angus Reid Institute

54% say it will hurt small business.
https://www.salesforce.com/ca/blog/2014/12/canadian-small-business.html

 

[SLM]

It is far, far preferable to expand the current CPP system than to implement a whole new parallel system. It will impact employment numbers though, there's no getting around that but there hasn't been an increase in CPP rates in a long, long time.

 

[Walter]

It is far, far preferable to expand the current CPP system than to implement a whole new parallel system. It will impact employment numbers though, there's no getting around that but there hasn't been an increase in CPP rates in a long, long time.

There should never be an increase and it should be completely phased out. Gubmint never does anything well.

 

[IdRatherBeSkiing]

There is nothing wrong with expanding CPP provided a few basic rules are followed. WHat you get is based on what you contributed. Just like any private plan the payout must reflect contributions, not a fixed amount. There must be a minimum contribution period before even being eligible.Something in the lines of 10 years.

All sensible rules which is why I am sure none of them will be followed.