Quote:
Originally Posted by The Yen Man
Well, something's not working if they're saying the pension fund isn't sustainable at it's current rate. So you either get people to contribute more to the fund while they are working, or pull out less when they are not.
I guess in my simplistic view, the fact that your retirement years can outpace your working years while still being paid a working wage salary during the pension years inherently tells me it isn't sustainable, unless the pension fund has made some crazy good investments over the years that has somehow offset the fact that people are drawing more out of the fund than putting in. (sorry for the crazy long run on sentence)
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I understand the sentiment. I do believe pensions need to be rolled back to market conditions. But changing the retirement age is a seperate issue to me. As I said, grandfathering in pension reforms is probably the best way to go, less contributions by employee and employer over time, and ensuring the employees have resources to be more prudent with their own personal retirement savings mechanisms (e.g. education on RRSP's, asset portfolios, etc.)