Thursday, March 4, 2010

Budget 2010

"The current government-supported retirement income system in Canada is recognized around the world by such organizations as the Organisation for Economic Co-operation and Development as a model that succeeds in reducing poverty among Canadian seniors and in providing high levels of replacement income to retired workers." - only if you are making less than the AIW, otherwise you have to save to the max!

"In May 2009, the Minister of Finance, along with provincial and territorial Finance Ministers, launched a process to expand understanding of the issues. They received a report in December and are continuing their collaborative work, leading to a review of policy options at the next meeting of Finance Ministers in May 2010." - the report said there were no problems, why are they still talking? Was the report wrong?

"In preparation for the May meeting, the Government will undertake consultations with the public on the government-supported retirement income system, including the main issues in saving for retirement and approaches to ensuring the ongoing strength of the system. This process will be launched in March." - but, will they talk to real people?

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