Quote:
Originally Posted by Ozy_Flame
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.)
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It's not necessarily less contributions though. It's that the benefit is not guaranteed. So the city could effectively say "we're not cutting the contributions or reducing that in any way. It's just that you get the results of that, and not a guaranteed income for the rest of your life."