Harper says `major' changes coming to pension system


petros
#31
Hi! Welcome to Wal*Mart
 
SLM
+1
#32
Quote: Originally Posted by petrosView Post

Hi! Welcome to Wal*Mart

Ugh! You know, I started out working in retail when I was a teenager. So help me if I end up there in retirement, I will go stark raving mad and I'll take others with me.
 
petros
#33
Why waste valuable experience?
 
SLM
#34
Is there a use for insanity?
 
petros
+1
#35
Yes. TV producers.
 
JLM
#36
Quote: Originally Posted by SLMView Post

Is there a use for insanity?

Apparently, many people are motivated by it.
 
Machjo
#37
Quote: Originally Posted by mentalflossView Post

Stephen Harper says `major' changes coming to Canada's pension system: speech

DAVOS, Switzerland - Prime Minister Stephen Harper has signalled his government will bring forward ``major transformations'' to the country in the coming months - in areas such as the retirement pension system, immigration, science and technology investment and the energy sector.

Of those reforms, Harper said, getting a grip on slowing the rising costs of the country's pension system is particularly critical.

In the wake of Harper's speech, it now appears that the Conservative government could be poised to gradually change the Old Age Security system so that the age of eligibility is raised to 67 from 65.

``In the months to come, our government will undertake major transformations to position Canada for growth over the next generation,'' said Harper. The Conservative government will table a budget in the coming weeks that is expected to set the stage for years of deficit-slashing and government reform.

Harper said the country's aging population has become a backdrop for his concern about how to keep the country strong over the long term.

``If not addressed promptly, this has the capacity to undermine Canada's economic position and, for that matter, that of all western nations well beyond the current economic crises.''

Indeed, Harper said the country's demographics - an aging populating and a dwindling workforce - constitute ``a threat to the social programs and services that Canadians cherish.''

For that reason, he said his government will ``be taking measures in the coming months.''

Harper did not specify what those measures will be, but he said they are necessary - not just to bring the government's finances back to a balanced budget in the medium term, ``but also to ensure the sustainability of our social programs and fiscal position over the next generation.''

``We have already taken steps to limit the growth of our health care spending over that period,'' said Harper.

``We must do the same for our retirement income system.''

Harper said the centrepiece of the public pension system - the Canada Pension Plan - is fully funded, actuarially sound and does not need to be changed.

But he added: ``For those elements of the system that are not funded, we will make the changes necessary to ensure sustainability for the next generation while not affecting current recipients.''

So far, the government has come forward with a plan to create a private pooled pension system to encourage Canadians to prepare for their retirement.

Still, there are concerns that as baby boomers approach retirement, the cost to government of providing public pensions will skyrocket.

In December, the National Post reported that there was internal debate within the government about increasing the age of eligibility for the other major element of the public pension scheme - Old Age Security - from 65 to 67.

Internal government documents project the cost of the OAS system will climb from $36.5 billion in 2010 to $48 billion in 2015. By 2030 - when the number of seniors is expected to climb to 9.3 million from 4.7 million now - the cost of the program could reach $108 billion.

Among the other priorities where change is coming:

Energy
The Conservative government will make it a ``national priority'' to ensure the country has the ``capacity to export our energy products beyond the United States, and specifically to Asia.''

``In this regard, we will soon take action to ensure that major energy and mining projects are not subject to unnecessary regulatory delays - that is, delay merely for the sake of delay.''

Harper did not explain what he has planned, although he and Natural Resources Minister Joe Oliver have complained that foreign-backed ``radical'' opponents of the $5.5-billion Northern Gateway project have threatened to slow down hearings by the National Energy Board.

Immigration
The system faces ``significant reform,'' said Harper.

``We will ensure that, while we respect our humanitarian obligations and family reunification objectives, we make our economic and labour force needs the central goal of our immigration efforts in the future.''

Science
The government will continue to make ``key investments in science and technology'' that are necessary to sustain a ``modern competitive economy.''

``But we believe that Canada's less-than-optimal results for those investments is a significant problem for our country.''

In future, he said, there will be changes to rectify that problem.

Trade
Harper expects to complete negotiations on a Canada-European Union free-trade agreement this year.

Furthermore, he said, his government is committed to also completing negotiations for a free-trade deal with India by the end of 2013.

And Canada will begin talks to become a member of the Trans-Pacific Partnership while also pursuing opportunities to trade in the emerging market of Asia.

Harper arrived Wednesday at the World Economic Forum determined to tout Canada as a trading nation with a solid economic record and massive oil resources which are ready to be sold and shipped to customers worldwide.

Other members of cabinet who are attending the conference in the exclusive mountainside resort in the Swiss Alps are Finance Minister Jim Flaherty, Foreign Affairs Minister John Baird, International Trade Minister Ed Fast and Bank of Canada governor Mark Carney.

Harper issued a scathing criticism of countries in the developed world, which he suggested had forgotten about the importance of creating economic growth. ``Is it the case that, in the developed world, too many of us have in fact become complacent about our prosperity?'' Harper asked.

He suggested that developed countries had taken wealth ``as a given . . . assuming it is somehow the natural order of things.''

Stephen Harper says `major' changes coming to Canada's pension system: speech

I'm still undecided for most of it, but I'm definitely for more free trade.
 
petros
+1
#38
Quote: Originally Posted by MachjoView Post

I'm still undecided for most of it, but I'm definitely for more free trade.

Free trade is fine as long as it's done using our currency. I'm not too keen on shoring up someone else's dollar.
 
Machjo
#39
Quote: Originally Posted by petrosView Post

Free trade is fine as long as it's done using our currency. I'm not too keen on shoring up someone else's dollar.

And do you mean that reciprocally?

Personally, I'd be in favour of a world currency, but that's just me.
 
petros
#40
A world currency? Backed by what?
 
Machjo
#41
As for the science and technology side of things, I could see combining that with First Nations' education. For example, some kind of 5-15 programme providing sufficient funding for FN children between the ages of 5 and fifteen to get year-round education would certainly boost their knowledge in various fields that could be useful to Canada, also giving them a headstart in science and technology should they choose to go on to university or college later.

Quote: Originally Posted by petrosView Post

A world currency? Backed by what?

Learn from the European experience. Clearly it would need to have very stringent rules regarding national debt acquirements. But it does have its advantages in a world economy.

By the way, what's the Canadian dollar backed by?
 
taxslave
+1
#42
Quote: Originally Posted by mentalflossView Post

I wonder if people will just take the hit and retire early anyway.

I don't really want to work longer than 60 if I could.

Invest wisely and you could retire much sooner than that. I have no intentions of retiring until at least 70 and hopefully later than that regardless of how much money I have stashed.
 
petros
#43
Quote: Originally Posted by MachjoView Post

As for the science and technology side of things, I could see combining that with First Nations' education. For example, some kind of 5-15 programme providing sufficient funding for FN children between the ages of 5 and fifteen to get year-round education would certainly boost their knowledge in various fields that could be useful to Canada, also giving them a headstart in science and technology should they choose to go on to university or college later.



Learn from the European experience.
By the way, what's the Canadian dollar backed by?

Learn from the EU? Sure. I've learned that Germany is footing the bill for loser states who became part of the EU for geo-political reasons and have nothing to offer in natural or human resources.
 
SLM
#44
Quote: Originally Posted by petrosView Post

Yes. TV producers.

Assuming TV producers are useful.

Quote: Originally Posted by MachjoView Post

Learn from the European experience.

Learn how not to do it you mean?
 
Machjo
+1
#45
Quote: Originally Posted by SLMView Post

Assuming TV producers are useful.



Learn how not to do it you mean?

Not necessarily. Had we abandoned all initial failed attempts at improvements, we'd still be in the dark ages.

Quote: Originally Posted by petrosView Post

Learn from the EU? Sure. I've learned that Germany is footing the bill for loser states who became part of the EU for geo-political reasons and have nothing to offer in natural or human resources.

They can potentially contribute. Think of the Marshall Plan. After WWII no European nation was particularly productive. Had we abandoned them, they'd probably have fallen to communism. The US helped them to develop a market. When other countries are wealthy, so will we be.
 
petros
+1 / -1
#46
Quote: Originally Posted by MachjoView Post

When other countries are wealthy, so will we be.

It's other nation's poverty that makes us wealthy.
 
Walter
-2
#47
Quote: Originally Posted by MachjoView Post

By the way, what's the Canadian dollar backed by?

The Canadian economy.
 
Machjo
#48
Quote: Originally Posted by WalterView Post

The Canadian economy.

So a world currency would be backed by a world economy, right?

Quote: Originally Posted by petrosView Post

It's other nation's poverty that makes us wealthy.

To some extent, superficially and in the short-term, you're right.
 
petros
#49
You'd happlily work for and could survive on $2 a day?
 
SLM
#50
Quote: Originally Posted by MachjoView Post

Not necessarily. Had we abandoned all initial failed attempts at improvements, we'd still be in the dark ages.

Of course but we are a long, long, long way off from any kind of real global unification.
 
darkbeaver
#51
Quote: Originally Posted by lone wolfView Post

Somehow, I'm thinking the building and planning department is in need of kissing a wrecking ball.

Bet we don't start with MP pensions

As much as these parasites yack about austerity belt tightening and leadership it is a fact that the wet weight of all the members has increased at least 27% in the last six years, we can digitally verify that by analyzing CBC parliamentry clips. Their fattening up just fine while they sell lean to the rest of the nation. Hey I want to see scientific evidence of their weight reduction, this year, next six months, or they're sentenced to the fat farm. This is without doubt the heaviest parliament ever to sprawl in those seats. We have to cover structural damage as well. With leadership like that this country is doomed.

" What is the Canadian dollar backed by?" 75% american dollar which is owned by the Chinese. I suppose we will have to sell more trees and rocks, fish, polar bears, you know stuff you can eat. IMO
 
Walter
+1
#52
Quote: Originally Posted by MachjoView Post

So a world currency would be backed by a world economy, right?

No. The same problem would occur with a world currency as is happening with the Euro; one economy, Germany's, is propping up the whole EU. Until all cultures are the same the idea of one global currency should be put to rest.
 
Durry
+1
#53
We don't need the government to provide us with a pension. They give us all the tools we need to provide us to look after ourselves ie RRSP, CPP, TFSA plus company pensions. OAS is just a waste of taxpayer money.. Can it !!
 
darkbeaver
#54
Quote: Originally Posted by WalterView Post

No. The same problem would occur with a world currency as is happening with the Euro; one economy, Germany's, is propping up the whole EU. Until all cultures are the same the idea of one global currency should be put to rest.

Well that's about to be decided by the war which seems to have swelled to global proportions, the fuse is getting short. Republicans want the single currency Walter. How come you're a republican? You sound like Ron Paul. I think that's cool.

Quote: Originally Posted by DurryView Post

We don't need the government to provide us with a pension. They give us all the tools we need to provide us to look after ourselves ie RRSP, CPP, TFSA plus company pensions. OAS is just a waste of taxpayer money.. Can it !!

Because of our poor educations some of us didn't know we would get old. We blame the gobernment.
 
Durry
+1
#55
Quote: Originally Posted by darkbeaverView Post


Because of our poor educations some of us didn't know we would get old. We blame the gobernment.

Well I'm not sure how much we should blame our education system for this, still sounds a bit like we're blaming the Gov. for something we have to take responsibility for.
But the education system does have some responsibility, but we have responsibility for our Ed system,,,,bit of revolving door!!!
 
darkbeaver
#56
Quote: Originally Posted by DurryView Post

Well I'm not sure how much we should blame our education system for this, still sounds a bit like we're blaming the Gov. for something we have to take responsibility for.
But the education system does have some responsibility, but we have responsibility for our Ed system,,,,bit of revolving door!!!

I agree with you. But first comes the responsibility for government. That's the actual work we have not done and it leads to every other problem. It is the revolving door for sure. Has government really worked on the same problems for decades or has government simply managed them for the private sector? Western government is infested with private sector wannabees and the competence to run soverign nations has been replaced by corporate servants. It's a very old story by now and but our education makes it a surprise for every new generation of bank slaves.
 
Durry
+2
#57
Well we need a strong private sector to creat jobs and generate wealth for the country. Governments can never do this.
If we have a strong economy and people that are responsible for their own actions, we'll have a great country..
 
darkbeaver
#58
Quote: Originally Posted by DurryView Post

Well we need a strong private sector to creat jobs and generate wealth for the country. Governments can never do this.
If we have a strong economy and people that are responsible for their own actions, we'll have a great country..

What constitutes the private sector? Without strict defining regulation and enforcement we have monopoly, todays problem. Multinationals are wreakers of local economies. I don't disagree with you very much at all. The demand and supply of jobs is controlled by huge international banks. If we don't break them nothing good will ever happen again on this planet.

Education rules. Knowledge is power.
 
Durry
#59
Quote: Originally Posted by darkbeaverView Post

The demand and supply of jobs is controlled by huge international banks. If we don't break them nothing good will ever happen again on this planet.
r.

Ummmm, I'm not sure I agree with this ???
 
darkbeaver
#60
Quote: Originally Posted by DurryView Post

Ummmm, I'm not sure I agree with this ???

All of it or just one of the two statements?
 

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