Fed advisers call for higher retirement age
 

https://ca.finance.yahoo.com/news/ot...091503198.html

it just gets better:thinking-006:...:snapoutofit:

The Tories did that and the Libs backtracked, now it's proven that Harper was right. Fascinating.

This is sooooo freaking precious. The old tax and spenders must be hitting panic mode. I have a feeling things are even worse than they appear.

Thanks citizens of eastern Canada. (and Vancouver Trudeau donors)

Trudeau should just apologize to Canada and beg Harper to take back the reins.

I love it when politicians spin their ideas. They are looking at putting an incentive in place to encourage older workers to stay in the work force longer.

The Oxford dictionary defines “Incentive” as “a motive or incitement; a payment or concession to stimulate greater output in workers”

I don’t see raising the age of eligibility for retirement benefits as being an incentive. It certainly could be effective, but it is a stick, not a carrot.

Additionally my workplace currently stope all the health benefits at age 65. I sure hope that gets changed along with the incentive.

It doesn't make sense. I would think wanting people to retire younger would create more jobs for both young people & immigrants ending up with both still being taxpayers. It's really hard to understand.

Even harder when you look at current unemployment numbers. But maybe they are looking to the future.

Maybe those demographics don't wanna work.

I bet those solid gold MP/Senator pensions are not affected :mad0100:

Difference between the Phillipines and Canada.Marcos looted the treasury for years and fled with the money when he was deposed.Canadian politicians legislate their own largesse so it is legal.

FTH

I guess that Justin has realized that the budget won't balance itself.....AFTER spending all that money! AND.....not a single job created!!!!

The only way out of Justin's reckless spending is higher taxes and lost benefits for taxpayers.

Enjoy the decline! :mad0100:

As long as CPP keeps coming direct deposit every month I'm trying really hard not to care for the next 2 years as nothing really suprises me with this government anymore.

I believe that the age of retirement should have a direct mirror of the maximum age of military service on being retired.

If that makes sense.

Increase the retirement age so public sector workers can retire earlier!

Makes sense actually.

Personally, I think the age of retirement should be raised. If you save more yourself and want to retire early perfect.

I just find it amusing that the Libs are now backtracking because they are finally realizing they may be in very deep trouble after letting boy wonder go around writing cheques for a year.

This sort of stuff scares the wits out of me as a young guy. All the baby boomers going into elder age on CPP are going to fully bankrupt this country (never mind the healthcare costs!) and I have zero faith in any governmental aptitude in figuring out a solution beyond taxing my future earnings to the moon and back.

You said it. The senate is the biggest scam running in Canada. How often do they reject or actually adjust bills coming out of the House of Commons? Hardly any of the senators care about being a senator. It's just a political retirement home for playing the game right, nothing more.

Yep, retire whenever I always say.

Just remember, the longer you wait to collect may be the time you see nothing.

I don't expect to ever 'retire'. Life is simply too rich to stop.

Feds can say what they want. My retirement and pension is based on the companies calculated DB/DC numbers.
If what Feds say determine when I get CPP, that'll just be my gas money.

TBark

Ok how about how MP's/Senators get expence accounts as well as living allowances.How about the "Parliament Dining Room" where they get 5 star meals for pennies on the dollar.....no "journalist" at the CBC would report on that though as they enjoy the meals as well because of a press pass.....tis only the taxpayer paying for it.

Canada needs to wake up and throw off the Nobs.

FTH

It should scare the hell out of you! The boomers have known for decades that they weren't paying enough into the pool to look after themselves, they didn't have enough offspring to look after themselves either. It leaves a huge problem and that's why we see so much immigration because "someone" needs to work to support the boomers. The worst is yet to come.

i wish i could opt out of cpp altogether , i could take the same amount and invest it myself and come out way ahead , and not have some liberal idiot in control of my money.

Yup, we all knew, so did Harper but he wasn't doing it to fund his extravagant spending. You are right about too many Baby Boomers and not enough kids to pay into CPP, but don't blame us for not having enough kids, blame our parents for having too many! :sHa_sarcasticlol:

Eventually something is going to give. Not only Canada but the world.

Can I use this? Outstanding! :sHa_shakeshout:

After reading to OP's linked article, my biggest concern was the national child care recommendation. We chose to have a parent at home until the kids were in school and believe that was worth the sacrificed income. For people making the same choice, a national child care program is no benefit, and probably, a tax grab. (Worse, we get on the slippery slope of the government raising your kids right from the cradle through "regulations" that are sure to follow).

As for retirement, I just don't know. My oldest son is a tax expert and says I could have been collecting CPP from age 60, and that's what he would do. (Less per month, but what if you wake up clutching your heart the day after your 65th). But I don't even want to pack it in at 65, if I can still work, and collecting CPP now means higher tax bracket now. The 67 thing doesn't worry me but wouldn't have affected me anyway, just my wife (a youngster on the relative scale).

This ^^^ is a great point! As a butt-end of the boomer generation, I worry more about the kids and grandkids. They're all bright and well equipped -- maybe they'll figure it out -- but we have saddled them with a debt burden we did not have to deal with. The liberal domination of our most productive years have insured our comfort at their expense!

(I could pay for my own medical checkups, but that would be illegal, go figure).

Further to this point -- obviously, I think this is really important -- in 1984 I went out and voted for Mulroney to stop the T1 spending spree, which was the basis of the PC platform, and he pretty much doubled it. He punted! 1984!The question becomes, "How long is the damn field?"

For those that agree that it should be raised to a higher age. I hope you don't get laid off and have to try to find a job. Not very many employers want to hire someone around the age of 60 these days. They are looking for the younger people to fill most positions unless it's for a senior managers position.

Just maybe they should be investing the CCP monies better and not diverting money from that account to cover other over expenditures.

Another failed election promise. Does that surprize me ? NO !

http://fairpensionsforall.net/

Many do. However many take second job, in government start double dipping if they work 3-5 years. Then government sector worker has two pensions before 65. The worst are highest managers, directors. They come back consulting at $500.00/hr.

These are people that need punitive actions against. There are many. Look up Sr. consultants in any public sector. Just cannot release power.
Sad result hinders progress of others. Government failure.:snapoutofit:

The baby boomers are generally considered to have been borne from 1946 to 1964 and they had lots of offspring. It's the generations since then that have decided not to have kids.

My favorite is they use their significant financial resources to run side businesses that compete against me. Tough to quote the same as a 55 year old teacher on a full ride pension who can do business for half the cost I can because every month the big guy sends him 5k for existing.