Tuesday, April 20, 2010

Growing Canadian Pension Divide: The Haves vs. the Have-Nots

Growing Canadian Pension Divide: The Haves vs. the Have-Nots | Canadian Taxpayers Federation

And another story from Don Martin about the same topic.

It seems to me that pensions are a contentious topic, but I have to think that a good portion of it is based in envy and entitlement. I know unionized people that are upset that the government is attempting to negotiate away their defined benefit pension plan. I know people who receive a defined benefit pension plan and would gladly trade their plan for a plan that they can contribute to themselves.

What it comes down to is the death of an entitlement that first came into popularity during a time in history when wage freezes forced companies to be creative in how they rewarded their employees for good work. Now, like unions and forced government pensions, the rationale for the idea no longer exists, but the idea is allowed to run rampant.

I agree with Mr. Martin that MP pensions are outrageously high. I agree that there won't be an election until after those 74 MPs reach their 6 year entitlement (Nearly half of which are Conservatives, which is logical considering that the Conservatives and NDP are the only parties to gain large numbers of seats since 2004.) I also agree that this should be an idea on the radar for politicians to take the lead in ensuring that belt tightening hits all sectors.

Now if only someone can explain to me how government pensions increased in value while all others decreased, and why it's my responsibility to ensure that a GM auto worker enjoys a comfortable retirement.

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