Alberta Politics & Government Thread 3.0

[corporatejay]

Originally Posted by para transit fellow

It was downright evil of the Feds to start that "Alberta is calling" campaign back in mid 2022 to encourage more people to move to Alberta

https://zgm.ca/work/alberta-is-calling/

Are you disputing that we are underfunded on immigration or did you think this was clever?

[CliffFletcher]

Originally Posted by bizaro86

I agree with you on all points with 2 clarifications.

1) the average person could have a teacher quality retirement plan if they put aside the same amount of money that teachers contribute to their pensions.

As Slava pointed out, there’s a big difference in security between a defined benefit pension and defined contribution pension. I’d also be curious to compare the investment returns of the big teachers pensions funds with average RRSP returns. The size of the teachers funds gives them a lot of heft.

Originally Posted by bizaro86

2) no routine exposure to violence is sadly becoming less reasonable of an assumption for a teaching career.

Fair enough.

[belsarius]

Originally Posted by corporatejay

Are you disputing that we are underfunded on immigration or did you think this was clever?

What is the source that Alberta is underfunded in regards to immigration?

[bizaro86]

Originally Posted by CliffFletcher

As Slava pointed out, there’s a big difference in security between a defined benefit pension and defined contribution pension. I’d also be curious to compare the investment returns of the big teachers pensions funds with average RRSP returns. The size of the teachers funds gives them a lot of heft.

That's true, although I think in general that security is more necessary in the de-accumulation phase, and it can be addressed with annuities. People always complain that they don't get anything back after death/guarantee period if they annuitize, but of course that's how a teacher's pension works as well

[corporatejay]

nm

[PepsiFree]

Originally Posted by corporatejay

What's my worry? I'm literally paying for this. Who else should worry about this?

So what? They’re paying yours. Every worker is paying for every other worker’s salary. Do you think money in the private sector is just magically waved into existence by an employer? Do you think when you buy milk at the grocery store you’re paying the cow? lol

If someone said you can spend an extra $50 per year and teachers will get a 20% raise, OR, you can take a 8% pay cut and teachers will get nothing, saving you the $50 per year, which would you choose?

[GGG]

Originally Posted by CliffFletcher

Is anyone here vilifying teachers? Quotes?

I’ve seen people say teaching is a good job. But it’s quite a spin to call that vilification.

YMMV, but I think any job that pays in the top 25 per cent, has a guaranteed pension*, and doesn’t involve routine exposure to violence or injury, is a good job.

* If teachers’ pensions are so bad, it’s odd that teachers retire on average 4 years earlier than the general Canadian population.

Of course they do they are forced to save money. If you ensured that 18% of your income was saved each year you do would retire earlier than average. Even if you just saved 14% each year you could retire earlier than 65. The forced savings is why teachers have good retirements.

That one is guaranteed and the other is not is not the driving factor between the difference in retirement date. It is simply the contribution amount.

A quick google suggests only 15-20% of people max out rrsps.