RTO/ERO |
PENSION & RETIREMENT CONCERNS |
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SENIORS AND COVID SUPPORT
Any Canadian senior eligible for Old Age Security will be receiving a
one-time, automatic, $300 supplement from the federal government to help
deal with the stresses of COVID-19.
This generous offering will be dearly needed by some, while others may
in fact be getting along well, within
their current resources.
What a genuine act of kindness it would be if those who are able to
function without this one-time payment were to donate it to any number
of local organizations assisting the vulnerable in our community.
Offering what we might, to those truly in need, would exemplify the true
spirit of being Canadian, and lift the spirits of so many amongst us who
could feel sincerely respected and supported by fellow citizens in such
stressful times.
Bob Sutton
Camlachie ON
519-869-6945
BILL
Bill C27 is a Federal Bill introduced by the current Liberal Government
in October 2016. It affects pension legislation which applies to
federally regulated private and public corporations, but it could
readily be used as a model to push against Defined Benefit Plans. It allows a new
type of pension plan to be implemented by those corporations. Previous
to Bill C27, for the most part, only two types were allowed where
the Federal Government had control. They are Defined
Contribution Plans and Defined Benefit Plans.
Our teachers’ pension is an example of a Defined Benefit Plan. The new
plan which would be allowed under the bill is a Target
Benefit Plan (sometimes inappropriately called a Shared Risk Plan).
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Christmas Banquet 2022 |