Fed advisers call for higher retirement age

[fishtank]

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

it just gets better...

[Roughneck12]

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

[rugatika]

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.

[Skybuster]

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.

[skidderman]

Originally Posted by Skybuster

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.

[Skybuster]

Originally Posted by skidderman

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.

[Unregistered user]

Originally Posted by skidderman

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.

Maybe those demographics don't wanna work.

[CNP]

Originally Posted by skidderman

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.

You're on the wrong track. The govt could care less about people retiring earlier or later..........................they just don't want to cough up paying CPP until later.

[Scott h]

Originally Posted by skidderman

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.

Your scenario works only if those that retire don't draw a pension.

[bigskinner]

Originally Posted by skidderman

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.

EASY to understand , they want to be able to not pay you a pension until your 70 instead of 65 , hoping you,ll be dead by then ,and wont have to pay you nothing, remember our pension money is invested by them and they pocket any interest gained on it , crooks every one.

[Mike_W]

Originally Posted by Skybuster

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.

Well the government doesn't control how your employee group benefits are handled and second the only benefit that stops at 65 is disability and life insurance decreases by 50% at age 65. Otherwise benefit typically go until and 70 or retirement but often that is being opened up to 75 or 85 even as our workforce is remaining working for longer.

I personally don't mind the retirement rollback as its simple that people are living healthier for longer, working longer and living longer. I honestly don't understand how someone can retire in their 50's unless they have a pile of money and in that case they shouldn't care much about this either.
If I didn't work I would be out of money in no time unless you make significant lifestyle changes with all the free time spending money would be too easy. Only in my 30's myself I know I shouldn't talk much on this but in my mind I plan to work as long as possible maybe a semi retirement or something but I plan for that to go into my 70's.

[Stinky Buffalo]

Originally Posted by rugatika

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

You know, I think we could crowdfund a billboard in Ottawa that says just that!

Who's on board?

[58thecat]

Financial word of advice if there is such thing because in order to be advice there has to be a listener but anyways plan YOUR retirement and don't rely on a outside source it's not all that hard to do.