Quote:
Originally Posted by IliketoPuck
It's tough to keep pounding on the same drum, I get that.
The model is broken. Not just for the public sector pensions etc., but for CPP as a whole. My parents generation created the greatest Ponzi scheme in history, and are going to leave us to foot the bill.
The only place I take exception is when Teachers are targeted directly. Front line workers in general really. They provide a critical service to society and are repeatedly raked over the coals.
I fully agree reforms need to occur. I personally think that public unions need to get rid of a great deal of administrative bloat and make smarter capital allocation choices. But good luck with that one.
Pensions need to be addressed as well. DB plans are notoriously susceptible to demographic changes.
So yea. I don't know how to fix it at this point. The muppets in Edmonton aren't making it easier, I just really hope they don't manage to set us back 40 years as a result of a protest vote.
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I have often wondered, in regards to the golden parachute pensions, how much less of a burden it would be to drop that percentage that calculates the pension. Right now it is a percentage of the average salary of the last five years. I wonder if you drop it 1% to 5% to compensate for the higher than average salary. Changing the model may be difficult so maybe just start tweaking it.