Quote:
Originally Posted by Cecil Terwilliger
Demonizing pensions has been part of the conservative/capitalist/corporate playbook for 40 years.
And it worked. Instead of a liveable retirement income for years of service, employees now get stock and paltry RSP matching. All under the guise of the “benefits” of increased employee control, independence and sustainability. Employees were lied to and bullied with fear tactics that they should want crappy 2% RSP matching because the evil socialist DB pension plan admins would piss away all their money and leave them with nothing.
All it really did was allow employers to cut back benefit costs substantially. Same idea in the public sector. Demonize unionized employees so that they don’t give the non union workers something to strive for. We don’t want them getting any ideas about how things could look for them.
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If the DB pensions are solvent with average matchings from the employer (governement) then great. If the DBs start to require cash injections from tax payers to keep them solvent then they will be done away with. The fact of the matter is tax payers can not and should not be on the hook to keep DB pensions solvent, which is what the discussion is.