economy

OPP Cancelled!

Started by Economy with 42 replies so far

https://www.google.ca/amp/s/www.thestar.com/amp/news/queenspark/2016/06/21/wynne-says-cpp-deal-means-no-need-for-ontario-pension-plan.html

 

Yes I was so against this :giveup: 

 

Ontario Canadas largest Province has put on the final legal actions to cancel a program to start its own seperate Retirement System from the Federal Government after Trudeaus new Government enhanced retirement plan making the seperate system "no longer necessairy" according to Premier Wyns own words

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I still think retirement ages around the world need to be raised a couple years to compensate for lower birth rates, aging population and higher life expectancy as unpleasent as it may be

 

age 65 retirement has been the standard a LONG time and is outdated to modern circumstances

 

thoughts? @Luc @Woolfsmck @UK Monster

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Wtf.. raising the pension age more than 65? If I got it right? 

Are people supposed to enjoy their life or just work till they die ..??

How about replacing them with younger people who need a job? 

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I thought the Ontario Provincial Police was cancelled

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*muffled Jewels N' Drugs in the background*

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12 minutes ago, August Blue said:

Wtf.. raising the pension age more than 65? If I got it right? 

Are people supposed to enjoy their life or just work till they die ..??

How about replacing them with younger people who need a job? 

Well i didnt say it was gonna be pleasent

 

But retirement pensions globally are in deficit and severely strained because demographics now have a lot more people entering retirement and a smaller percentage of younger people contributing

 

the new generation also spends more years in school not contributing as heavily the first years as was common

 

No one said it was pleasent. But not fixing an issue because you dont like it is pure stupidity

 

Governments around the world are reluctant to bring up the issue because everytime a politician does there is severe backlash from public and they kick the can down the road

 

Experts are really worried about whats gonna happen to the system 15-20 years down the road with no adjustments being done to reflect the changed circumstances

 

birth rates are lower and people are older, yet hardly any alterations to compensate have been done in most countries

 

 

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20 minutes ago, Economy said:

I still think retirement ages around the world need to be raised a couple years to compensate for lower birth rates, aging population and higher life expectancy as unpleasent as it may be

age 65 retirement has been the standard a LONG time and is outdated to modern circumstances

You want people to work till they die ?
It should not be raised. That's really a selfish thing to say. People work hard though out their lives, that is their time to rest.

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I'm not racist, I have a black iphone #WesternLivesMatter

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1 minute ago, Cocaine Heart said:

You want people to work till they die ?
It should not be raised. That's really a selfish thing to say. People work hard though out their lives, that is their time to rest.

Typical. Citizens dont want any unpleasent changes but never offer solutions to fix an issue

 

how do u suggest we compensate for the mass deficits in government pension funds then? The only other option is to surge deductions on working people and cut what old people receive

 

both terrible for the economy

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20 minutes ago, DeanWinchester said:

I thought the Ontario Provincial Police was cancelled

Same :laughga:

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7 minutes ago, Economy said:

Typical. Citizens dont want any unpleasent changes but never offer solutions to fix an issue

 

how do u suggest we compensate for the mass deficits in government pension funds then? The only other option is to surge deductions on working people and cut what old people receive

 

both terrible for the economy

I am not a citizen of your country. The retirement age in my country is 60.

In your country this isn't an immediate issue. I'm sure alternate plans could be made and those deductions are't mass deductions.

Yeah it may be terrible for the economy but it's not terrible for the people, people actually matter. Typical right wing thinking.  

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I'm not racist, I have a black iphone #WesternLivesMatter

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52 minutes ago, Cocaine Heart said:

I am not a citizen of your country. The retirement age in my country is 60.

In your country this isn't an immediate issue. I'm sure alternate plans could be made and those deductions are't mass deductions.

Yeah it may be terrible for the economy but it's not terrible for the people, people actually matter. Typical right wing thinking.  

I would like to hear about those alternate plans, if you don't mind

And your statement "it may be terrible for the economy but its not terrible for the people" is kinda contradictory, if something is terrible for the economy it is automatically terrible for the people

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1 hour ago, Cocaine Heart said:

I am not a citizen of your country. The retirement age in my country is 60.

In your country this isn't an immediate issue. I'm sure alternate plans could be made and those deductions are't mass deductions.

Yeah it may be terrible for the economy but it's not terrible for the people, people actually matter. Typical right wing thinking.  

It's not affordable to keep it up when there's one pensioner for every two workers (which will happen in Europe). Remember the baby boom generation? Well, Europe is ****ed.

germany-population-pyramid-2014.gif

italy-population-pyramid-2014.gif

How are so few young people going to pay for the pensions of so many old people? Taxes would fly through the roof and there would be no pension left for the young people. The only solution is raising the retirement age.

2 hours ago, Economy said:

I still think retirement ages around the world need to be raised a couple years to compensate for lower birth rates, aging population and higher life expectancy as unpleasent as it may be

 

age 65 retirement has been the standard a LONG time and is outdated to modern circumstances

 

thoughts?

It's already raised in most of Europe. Even Greece has 67 now (with exceptions for too many jobs/people, though). In the Netherlands it will be 67 by 2021 and will keep rising along with age expectancy. My retirement age is 70,5 afaik. It's necessary, because by 2050 there will be one person above 65 for every two of working age. It's hard to keep up the system like that.

I'm personally not in favour of raising the retirement age because there's many jobs where working after 65 is a no-no. I'm in favour of a flexible pension age, where you get to decide yourself if you want to be earlier, but your pension will be lower.

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I think it is going to be necessary in some form or another to either increase the age or decrease the amount each person receives, despite the fact no one is going to like it or readily accept it.

Perhaps until a better solution is figured out, some emphasis should be put on encouraging younger people to start saving early/investing in private pension schemes. At least that will supplement the state pensions later on in life or even provide the option to retire earlier. 

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Posted (edited)

Complex issue to be sure.  Bring that the government is trying to "help' the citizens, their policies need to reflect the best interest of the over all economy, not just one individual segment.   

Also, the revenue projections for the next decade need to be factored , not just what the current status.

I am fortunate that my job allows me to continue working well past retirement age.

Edited by Woolfsmck

like a cat in a sil, I watch life, moving&still, proceed across my face, I leave no trace.My words give a clue,look inside to see whats true

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6 hours ago, August Blue said:

Wtf.. raising the pension age more than 65? If I got it right? 

Are people supposed to enjoy their life or just work till they die ..??

How about replacing them with younger people who need a job? 

In a few years, the baby boomers of the 50s-60s are gonna become seniors, and a lot of communities in Canada are gonna have a higher-percentage of seniors than working millennials. Thus, we either need to raise taxes on the working younger generation (NO!) or cut/limit/change pensions (a little better).

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5 hours ago, Gagamel said:

I would like to hear about those alternate plans, if you don't mind

And your statement "it may be terrible for the economy but its not terrible for the people" is kinda contradictory, if something is terrible for the economy it is automatically terrible for the people

Giving me "I have a secret plan to defeat ISIS" tease...

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