To: Prime Minister
Canadian Pensions
I'd like to see the government adopt a Pension system that works more or less like an RRSP, accruing value over time, as Canadians pay into it.
Why is this important?
Currently, Canadians pay more into CPP than the average monthly amount for an RRSP, which would later pay out a significant sum. There is no reason this should be the case. The government holds this money in a pension fund, where they could instead allow it to accrue value.
The Poverty level has remained unchanged for a significant amount of time that I am aware of, not having heard of it changing in my lifetime. As I recall, it is currently $12000 CDN/year; where the average pension from CPP amounts to not musch more than $6000 CDN/year.
Not only is it unrealistic, but it does nothing to reward the hard working Canadians who have spent their lives working and paying taxes, as well as paying into this fund. Instead, they can be expected to use up their savings, and spend the remainder of their days below poverty.
I live in a complex where a number of pensioners reside, and some of the pensioners here I have spoken with are living on frozen vegetables and macaroni and cheese. This is unhealthy, lacks reasonable or even decent nutrition, and is common among seniors and pensioners.
I work in an industry where I see a number of them fairly often, and in fact work alongside one who cannot afford to retire, and wouldn't know what to do with himself if he did.
The pensionable age keeps increasing, and somewhat ironically, has increased beyond the average life expectancy; especially among individuals who work in industry, service jobs, or similar occupations, who tend to have lower than average life expectancies.
These people pay the taxes this Country operates on. It may seem a Corporation lends a big sum in taxes, but they also get significant write offs, and much of the taxes they pay are collected from their consumers, and other taxation that eventually trickles down, (generally immediately), to the consumer, or impacts the employees wage caps. One way or another, it always falls on the shoulders of people who need and can claim pensions.
Poverty is common in Canada, and it really starts to reflect on value and quality of life before you drop below $30000/year. At this level, you can expect not to pay for a home in your lifetime, and to continuously be paying into vehicles, credit cards, and other lending systems. This is part of the economic system we have, and directly attributed to how it functions. A part of the design.
There are plenty of other things I would like to see addressed, but this would be a good start. Next up might be health and dental care, and making that more affordable and available, across Canada.
The Poverty level has remained unchanged for a significant amount of time that I am aware of, not having heard of it changing in my lifetime. As I recall, it is currently $12000 CDN/year; where the average pension from CPP amounts to not musch more than $6000 CDN/year.
Not only is it unrealistic, but it does nothing to reward the hard working Canadians who have spent their lives working and paying taxes, as well as paying into this fund. Instead, they can be expected to use up their savings, and spend the remainder of their days below poverty.
I live in a complex where a number of pensioners reside, and some of the pensioners here I have spoken with are living on frozen vegetables and macaroni and cheese. This is unhealthy, lacks reasonable or even decent nutrition, and is common among seniors and pensioners.
I work in an industry where I see a number of them fairly often, and in fact work alongside one who cannot afford to retire, and wouldn't know what to do with himself if he did.
The pensionable age keeps increasing, and somewhat ironically, has increased beyond the average life expectancy; especially among individuals who work in industry, service jobs, or similar occupations, who tend to have lower than average life expectancies.
These people pay the taxes this Country operates on. It may seem a Corporation lends a big sum in taxes, but they also get significant write offs, and much of the taxes they pay are collected from their consumers, and other taxation that eventually trickles down, (generally immediately), to the consumer, or impacts the employees wage caps. One way or another, it always falls on the shoulders of people who need and can claim pensions.
Poverty is common in Canada, and it really starts to reflect on value and quality of life before you drop below $30000/year. At this level, you can expect not to pay for a home in your lifetime, and to continuously be paying into vehicles, credit cards, and other lending systems. This is part of the economic system we have, and directly attributed to how it functions. A part of the design.
There are plenty of other things I would like to see addressed, but this would be a good start. Next up might be health and dental care, and making that more affordable and available, across Canada.