Of course not. The SPP is a voluntary pension plan intended as an option for people who don't have an employer pension plan. It has absolutely nothing to do with building "firewalls". Indeed, it is open to all residents of Canada, so in a sense, it is a very inclusive and, frankly, neighborly idea.
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I'm saying they have been in our party's policy book that long (some good, bad and ugly). What I find funny is that now all of a sudden they are being focused on... yes, just like everything else.
Yes, because for the first time in 10 years, we have the terrifying (for some) prospect of the Wildrose Alliance actually forming government.
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"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
How have we had any of these policies for nearly 10 years? A group of right wing ideologues writing a letter to the Premier who subsequently ignores it and implements none of its suggestions does not equal "policies that we have had for nearly 10 years!".
Sorry, I wasn't clear. "We" meaning the Party.
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Also, the Saskatchewan Pension Plan discussed in that article that you linked to has nothing to do with withdrawing from the Canada Pension Plan. Here is a description from the article:
Actually, that was my point. There are various models out there and worth having the discussion and exploring these things.
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"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
Actually, that was my point. There are various models out there and worth having the discussion and exploring these things.
Absolutely. However, in my view, withdrawing from the Canada Pension Plan seems like the worst model.
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"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
Personally I'd like to opt out of any government pension plan.
I think given the eventual demise of the CPP we need to explore all options. For those who are younger a complete opt out might be best. For those my age (pushing 50) a blended model might work. For those on cusp of receiving CPP likely staying the course is best.
I'm saying they have been in our party's policy book that long (some good, bad and ugly). What I find funny is that now all of a sudden they are being focused on... yes, just like everything else.
Better get used to it this final week. Because the Wildrose is now the established frontrunner, everything in their policy book, no matter how old or how trivial, is going to be under the microscope. The undecides want to know more about the party with no legislative history who they might be giving unchecked power to. Can't say I blame people for wanting to know more
Also, as someone who was raised in Quebec, lets try to avoid as many Quebec policies as possible. As has been mentioned before, without our transer payments they'd be in huge financial trouble, because many of their policies are fundamentally flawed, and QPP is one of them. Because if say you work your here for 10 years or so, make all the PP contributions...then you move, and you have to start your PP plan over again in a new province. Its not a good policy unless people want to stay and pay into the Alberta plan forever, whereas obviously CPP will transfer between provinces.
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I think given the eventual demise of the CPP we need to explore all options. For those who are younger a complete opt out might be best. For those my age (pushing 50) a blended model might work. For those on cusp of receiving CPP likely staying the course is best.
Well, taking those steps would certainly make the demise of CPP nothing more than an eventuality.
Major changes in 1997 led to the change in financing of the CPP from a PayGo basis to a form of partial funding called steady-state funding. The 1997 reform, and particularly steady-state funding, resulted in the Plan’s financial sustainability being restored for current and future generations. The financial status of the Plan is expected to continue improving over time as the assets, asset/expenditure ratio and funding ratio are all projected to increase. The steady-state contribution rate results in asset/expenditure and funding ratios that are both relatively stable over time. The excess of the legislated rate over the steady-state rate that has existed since 2003 has further improved the Plan’s financial status and has provided room for the Plan to absorb some of the impact of future adverse experience that may arise. As it is expected that real investment returns will continue to exceed real growth in total earnings and that the legislated rate will be maintained at a level higher than the steady-state rate, the funding level of the Plan is expected to continue increasing over time.
This study shows that the steady-state funding methodology of the CPP is robust and appropriate for the purpose of contributing to the long-term financial sustainability of the Plan, assuming that future demographic and economic conditions do not vary drastically from those projected, that CPP assets continue to earn a reasonable rate of return and the PayGo rate does not exceed the steady-state rate to a large degree. All of these conditions are considered to be reasonable over the long term.
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"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
Better get used to it this final week. Because the Wildrose is now the established frontrunner, everything in their policy book, no matter how old or how trivial, is going to be under the microscope. The undecides want to know more about the party with no legislative history who they might be giving unchecked power to. Can't say I blame people for wanting to know more.
Absolutely agree. I just find it funny (in an ironic way) they are pulling stuff now to paint us as scary, when really there are people who want to discuss these things.
CPP is solvent for a fairly long time into the future (currently managing over $150 billion in assets, up from around $50billion in 2003) because our government can sometimes be wise enough to be forward thinking. In the mid-90's it was projected CPP would be broke by 2015, but instead they consulted with provinces and citizens on how to best keep the plan funded. Essentially they adopted policies to strengthen the plan (increased employer contributions, cost cuts etc), so CPP is actually very strong right now. Obviously there's always ways to improve, so we always have to look at those. In fact I'm not entirely sure we've had a full review since the mid-90s.
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"Think I'm gonna be the scapegoat for the whole damn machine? Sheeee......."
The results contained in this report confirm that the legislated contribution rate of 9.9% is sufficient to pay future expenditures and to accumulate assets worth $275 billion (i.e. 4.7 times the annual expenditures) in 2020. The minimum contribution rate required to financially sustain the Plan under this report is 9.86% for years 2013 to 2022 and 9.85% for years 2023 and thereafter, compared to 9.82% as determined for the 23rd CPP Actuarial Report. Experience over the period 2007 to 2009 was worse than anticipated overall, thus putting upward pressure on the minimum contribution rate. Investment losses and higher life expectancy increased the rate. Fertility, migration, and economic experience were all higher than expected and thus partially offset the impact on the minimum contribution rate. However, lower inflation expectations, lower assumed rates of return on investments, and expected continuing decreases in mortality rates, especially at the older ages, result in an overall increase to the rate.
Under the 9.9% legislated contribution rate, the assets are projected to grow rapidly over the next 11 years as contribution revenue is expected to exceed expenditures over that period. Assets will continue to grow thereafter until the end of the projection period, but at a slower pace, with the ratio of assets to the following year’s expenditures expected to reach a level of 5.2 by 2050. Thus, despite the projected substantial increase in benefits paid as a result of an aging population, the Plan is expected to be able to meet its obligations throughout the projection period and to remain financially sustainable over the long term.
Anyway, I'm a lowly lawyer, not an actuary, so by no means am I any more than a layman when it comes to this sort of thing. However, reading these two reports, it sounds to me like the imminent demise of the CPP is vastly overstated in some circles. I'd be curious to hear Ms. Smith's rationale for advocating Alberta's withdrawal from CPP. I hope that it is based on something more than just pandering to general anti-Ottawa sentiment among her party's base.
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"Life of Russian hockey veterans is very hard," said Soviet hockey star Sergei Makarov. "Most of them don't have enough to eat these days. These old players are Russian legends."
Last edited by Makarov; 04-14-2012 at 12:05 PM.
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Absolutely agree. I just find it funny (in an ironic way) they are pulling stuff now to paint us as scary, when really there are people who want to discuss these things.
That is what's scary about it.
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I know many aren't fans of Sun News (heck even I can't stand some of their segments), but I found this piece interesting analysis of the debate.
Speaks of body language and how it changed over the course of debate.
Watch that one ^^ first, then watch this 30 second one someone has posted on YouTube.
Found it when someone Tweeted "Redfords attempts at mind control on Raj"
Last edited by First Lady; 04-14-2012 at 12:04 PM.
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How can this province have an anti-Ottawa stance when we elected 27/28 MPs from the majority party, including the Prime Minister? Maybe an anti-Eastern Canada stance (moslty Quebec and Ontario), but I'm pretty sure lots of people in this province like who's in Ottawa.
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