defined benefit pensions

Mr. Sinclair is correct. The Economist recently included a piece on Canada's well-managed and high performing defined benefit pension plans. These plans cost workers half the service fees of defined contribution plans, and when properly funded by employees, and employers perform far better. The best idea floated by both the Liberals, and the NDP in the last election, and which nobody seemed to notice, was a voluntary expansion of the CPP, that would allow employers and employees to contribute to a defined benefit pension plan. This could take the responsibility for company pensions out of the hands of businesses that might be tempted to underfund, or "borrow" from them when times are hard, as well as allow people to take a defined benefit pension with them when the switch jobs. As a side benefit, people with secure health care and retirement benefits are more likely to take the risk of starting a new business venture.

Canada's Pension Funds: Maple Revolutionaries

http://www.economist.com/node/21548970

An honest conversation about

An honest conversation about how we can lift everyone up is a great suggestion and is what all money reformers like myself are always working to do. An honest conversation includes the facts about money and banking, that the private banks are printing over 95% of our money supply, demanding repayment with interest, and thereby controlling much of our lives.

An honest conversation talks about how the elite intentionally keep money in short supply to the "99%", that their banking system manufactures and guarantees poverty and unnecessary suffering. And that money is simply a number in a database, that banking is just bookkeeping, and that money should be a public utility instead of a system for power and control over us.

The system is sustained by public ignorance, so let's have an honest conversation that will overcome that ignorance.

Pensions are gold mines!

The Conservatives have been after the Privatization and subsequent dismantling of the CPP since their conception!.

The CPP is among the best run and best funded plans in the world. They are in control of a mind boggling sum of cash! They are diversified not just between portfolios but between countries.

The private industry as well as Governments want that money! That is the long and the short of the push.

About 15 years ago the Trucking Companies in the US fell upon very hard times many went bankrupt. The receivers came into the companies and started collecting freight bills.

Customers who received discounts with no contracts were asked to pay the full amounts on their back shipments. (Another reason to get your agreements in writing)

Quietly, they took over the companies pension funds, they reinvested the coin into their private organizations, real or otherwise. Then, walked away.

In most cases the people involved lost their pensions with no recourse to the receiver.

Yes, it is time to fight for your pensions and take part in debates that swing on your pensions funding or lack of it and, any mention of "security".

Fight for democracy or lose it.

In a country as wealthy as Canada, there should be a GAW (guaranteed annual wage) for every Canadian irregardless of age. Our banking system is directed by a few insiders who profit mightily from their endeavours. It is time to modernize the banking system and our whole system of financing human activity. Fiat Lux has written about this many times and I sense that his wisdom has been learned through the tough love of experience. Listen to him for decision time is quickly approaching. Does Canada become part of the imperialist USA corporation or do we march to our own drumbeat? I will choose the latter.

What can you do when most of

What can you do when most of the population has no clue or could care less and are more concerned about the hockey game coming up than long term things like pensions?

The powers that be seem to like to use distractions so people 'fight' among each other. Yes people get pissed when politicians get hefty raises and great pensions yet reading comments from the CBC to some forums and other news sites there is way more vitriol aimed at government employees, union workers (read comments when ever a labour dispute) wanting just a cost of living raise or a better pension or whatever. There is a lot of jealousy/hatred among many in the non union sector for whatever reason yet they bitch but won't do anything to help themselves do better like even joining a union but they seem to want everyone else to have 'nothing' like them. They use excuses like 'no money' (yet money for all sorts of things like fake lakes and roofs for stadiums) or work harder ( I worked non union in the past and working harder does not bring financial benefit to me and many times OT was at straight time) or be happy you just have a job. blah blah..

OK then , if this was two years ago:

http://www.theglobeandmail.com/commentary/can-canada-own-the-pension-podium/article4314507/

What has happened since?

I wonder what the average

I wonder what the average Canadian would do if Mr. Harper tried to privatize the CPP?

Gordon Campbell's huckster

Gordon Campbell's huckster (hey, have I gotta deal fer you) brother babbles on all the time on how Canada's pensions (public and private) are too expensive and we can't afford them anymore. Should be interesting on Michaels comments about his brother's Government pension package.

bc's public pension plan unethical

"Public service pensions across Canada are well funded..." Yes, the workers and employers together provide a large contribution each month, and then BC's public pension fund, bcIMC, takes the money and invests it in tobacco, weapons, pipelines, child labour, soft-core pornography, purveyors of hard core pornography, polluters and pillagers. Every worker deserves a decent pension--when is Mr. Sinclair going to support ethical investing--his past record is one of apparent silence on the issue.

Pension Paradox

As part of the conversation, we need to change pensions from passive income generating vehicles to active investors of capital geared towards social change. Why aren't BC pensions plans financing affordable housing, local food production, co-operatives, daycare centres, renewable energy systems, electric car infrastructure etc..

Instead we see workers' savings invested in the same corporations who abuse the environment, lobby for less regulation, pit worker against worker. It is collective insanity!

If the P3 model was adapted to using pension funds to capitalize social enterprise, then we could seriously move towards a more peaceful, inclusive, and prosperous society.