Joe Murphy living on the streets

[Reaper]

Originally Posted by Snuffleupagus

He had a long career with almost 800 games, why is his pension only $1000 a month?

He started drawing it at age 45 and it is reduced as a result. A larger pension is available if one can wait to draw on it until age 65.

[Snuffleupagus]

Originally Posted by Reaper

He started drawing it at age 45 and it is reduced as a result. A larger pension is available if one can wait to draw on it until age 65.

Do you have a link? I know 2 NHL players in their 50's getting pensions a whole lot more than $1000.00 a month

[Reaper]

Originally Posted by Snuffleupagus

Do you have a link? I know 2 NHL players in their 50's getting pensions a whole lot more than $1000.00 a month

Sorry, I don't have a link per se. This is just something I heard in a Sportsnet piece a while back.

[Snuffleupagus]

Originally Posted by Reaper

Sorry, I don't have a link per se. This is just something I heard in a Sportsnet piece a while back.

I'm told it's possible his ex-wife and kid(s) get some of his pension

[Locke]

Originally Posted by Snuffleupagus

Do you have a link? I know 2 NHL players in their 50's getting pensions a whole lot more than $1000.00 a month

From what I understand, the official NHL pension system is rather nebulous to understand, its been changed and revamped several times.

But the 'Official Pension' from what I understand isnt all that great and older players were being paid a whole lot less and didnt contribute as much as under several of the more modern structures.

And as with any pension plan, the sooner you start drawing on it the less you get on a monthly basis because it has to last longer which places more emphasis on the individual's own investments for their retirement.

I'd be interested in learning more about it.

[Snuffleupagus]

Originally Posted by Locke

From what I understand, the official NHL pension system is rather nebulous to understand, its been changed and revamped several times.

But the 'Official Pension' from what I understand isnt all that great and older players were being paid a whole lot less and didnt contribute as much as under several of the more modern structures.

And as with any pension plan, the sooner you start drawing on it the less you get on a monthly basis because it has to last longer which places more emphasis on the individual's own investments for their retirement.

I'd be interested in learning more about it.

Yeah I was told playing era's were different for pensions but during the 80's and 90's it was a individual pension account and Murphy should be collecting far more than 12K a year after playing 800 games.

It's funny but my source actually played with him for a short period and even on the same line but I won't mention his name